Coffee with Craig Show – daily CRE news covering the CEE region – Tuesday, April 5 with Winston Norman, Editor and Chief of EuropaProperty.com – Celebrating over 300 shows!!!
RECORD YIELD IN BALTIC DIY SALE
KS Holding, a Kesko Group company, has completed the sale of Kesko-Senukai stores in Vilnius and Daugavpils to the Finnish Special Mutual Fund Titanium Baltic Real Estate. Together with the sale of Riga’s Ozols Centrs, acquired by Titanium last November, KS Holding has brought retail assets valued at €60 million to the market. Returns to shareholders in the recent transactions for the money invested exceed 20 percent per annum.
The construction of the Vilnius store was completed last November. The valuation realized in the exit now marks a new record high for a DIY store in the Baltic States. The building is being evaluated as fulfilling the BREEAM Very Good sustainability rating. Financing for the development was provided by SEB Lithuania.
Saulius Merkys, KS Holding CEO and Zabolis Partner responsible for real estate commented: “I am greatly pleased with being able to achieve such a high valuation for our Vilnius store. The conditions for retail have been considered as challenging, but our partners Kesko-Senukai have proven to be highly resilient and adaptive to market conditions.”
GLOBALWORTH SIGNS PARTNERSHIP WITH CATTED FOR SMALL BUSINESS UNITS
Globalworth announced a strategic partnership with CATTED in the light industry and logistics sector, mainly focused on the “small business units” segment. The partnership, with Globalworth as the majority shareholder, initially involves the acquisition of land of around 45,000 sqm in Ștefănești, ideal for logistics development, as well as the takeover of a small business unit project previously developed by CATTED in Chitila.
The two projects with which the collaboration begins are located in two areas extremely well connected to the infrastructure of Bucharest, the capital remains one of the main production and logistics services hubs in the country.
“Following the growth of the e-commerce industry, we have identified a new target with high potential: small and medium-sized companies looking for modern storage spaces,” said Mihai Zaharia, Globalworth Romania Head of Investments and Globalworth Group Capital Markets Director.
“The strategic development plan on which our partnership is based opens a new path for the development of a national network of logistics parks focused on small business units,” added Tudor Cobalaș, Business Developer, CATTED.
ACCOLADE GROWS INVESTMENT ACTIVITIES IN BYDGOSZCZ
Accolade is expanding in Bydgoszcz, investing over €200 million in four modern warehouse parks, with a total area of over 240,000 sqm. At the same time, the investor is launching a new, €40 million project in nearby Piła. Accolade is now one of the regional leaders, owning almost 40 percent of the total modern warehouse space around Bydgoszcz.
Accolade’s investment activities in Bydgoszcz started in 2016 and have placed it at the forefront of the most important investors in the region. The first two parks have a total area of 87,000 sqm and are fully leased by the leading companies in the logistics and e-commerce industry. The third complex is under expansion, with a current, fully leased area amounting to 34,000 sqm. This park will ultimately reach 44,000 sqm. The newest project, located in Lisi Ogon near Bydgoszcz, will consist of three buildings with a total surface of 110,000 sqm. The first tenants will move in Q2 2022.
“Bydgoszcz is a good example of how Accolade chooses its locations. It is a city with over 300,000 inhabitants, a developed infrastructure, and an industrial tradition. It is a large industry, trade and logistics centre and has a developed communication hub,” says Michał Białas, Country Head of Accolade in Poland.
“A good business environment and improving accessibility of the city infrastructure-wise, make Bydgoszcz an attractive industrial real estate market, also in terms of capital investments,” says Edyta Wiwatowska, Board President of Bydgoszcz Regional Development Agency.
CAPITAL.COM TAKES TWO FLOORS IN THE SKYLINER OFFICE BUILDING
Capital.com, a high-growth investment trading platform, has leased nearly 3,000 sqm of office space in the Skyliner building at Rondo Daszyńskiego in Warsaw. The tenant will move into its new offices in August this year.
Jonathan Squires, Group CEO of Capital.com said: “Capital.com has grown tremendously in the past 18 months. Our success is truly apparent and measurable through the amount of new staff we are hiring to manage and support the different aspects of the business – over the last two years our headcount has grown almost five-fold.”
The tenant was represented in the transaction by the MAXON Nieruchomości agency, and the Karimpol Group by the CBRE team.
“We are glad that Capital.com has chosen Skyliner as its new office location in Warsaw – an office building located in the heart of the Wola business centre,” says Michał Libiszewski-Sawoni, commercial real estate advisor at MAXON Nieruchomości.