Balmoral sells three office buildings of Browar Lubicz

Savills has advised Balmoral Properties on the disposal of three office buildings of the Browar Lubicz complex in Krakow. The new owner of the property is French-based PAREF Gestion, which acquired it on behalf of SCPI Interpierre Europe Centrale.

Browar Lubicz is a mixed-use development that seamlessly blends the elements of the traditional architectural design of the former brewery and a modern building. The transaction comprised three office buildings of the complex with a combined area of 7,500 sqm.

The property is located at Lubicz Street, directly opposite Krakow Main Railway Station and Galeria Krakowska, just 800 metres away from Krakow’s Main Market Square. Its tenants include one of the leading app-based mobility as a service provider, CentralNic, a multinational holding company providing domain name registration services, web hosting and web traffic monetization, and YGGDrasil, a Swedish provider of gaming solutions.

“Thanks to its prime location, Browar Lubicz ties in with the strategy of investment funds targeting assets close to key transport hubs. It is unique in being a human scale development and one of very few modern office buildings located so close to the historic Main Market Square and the Tower of St. Mary’s Basilica. The transaction is a confirmation of the continued trust and confidence of cross-border capital in high-quality properties in Poland,” says Tomasz Buras, CEO and Head of Investment, Savills.

The parties agreed not to disclose the value of the transaction. Balmoral Properties was advised on the sale of the buildings by Savills (investment and leasing support services) and Jakubaszek & Wspólnicy (legal). The new owner of the property was advised by Dentons (legal) and BNP Paribas Real Estate (technical).