Coffee with Craig Show – daily CRE news covering the CEE region with Publisher Craig Smith and Winston Norman, Editor & Chief of EuropaProperty.com.
Peakside and Generali sell Austria Trend Hotel in Ljubljana
On behalf of Generali Adriatic Value Fund, SIF, Peakside Capital and Generali Investments Slovenia have sold the Austria Trend hotel in the Slovenian capital. The fund purchased the hotel in 2019 from the Austrian company CA Immo. The adopted business plan involved renegotiating the contract with the hotel operator and a comprehensive property renovation.
Austria Trend is a 4-star facility excellently located in the capital of Slovenia, right next to the Ljubljana ring road. The hotel offers 214 rooms and 12 apartments, as well as numerous amenities for guests including a restaurant, fitness and wellness area with saunas, a conference centre with 11 rooms, and both surface and underground parking.
Christopher Smith, Head of Portfolio Management CEE at Peakside Capital Advisors, emphasized: Following a comprehensive refurbishment and a lease extension with the current operator, the hotel has garnered significant interest from income-focused investors in the region.”
Redkom will build a retail park in Bydgoszcz
The Bydgoszcz Glinki shopping centre will be redeveloped by Redkom Development, resulting in the construction of a modern retail park with Carrefour as the grocery tenant. The new retail destination with an area of about 16,000 sqm GLA, 25 shops and service outlets will offer residents a wide range of goods, from fashion to beauty, home, pet, DIY and medical clinics. It is scheduled to open in the fourth quarter of 2025.
“A retail park in Bydgoszcz with an operating Carrefour is the perfect place to re-establish itself in the minds of Bydgoszcz residents as the most attractive place to shop,” commented Elżbieta Kutrasińska, Senior Leasing Manager, Redkom Development.
Volvo Tech Hub leases 10,000 sqm of office space in Kraków
Volvo Tech Hub will occupy 10,000 sqm of space at Brain Park C. A new section of Volvo Car Poland will be moving into the Kraków office building, from Echo Investment, in three phases, starting in September 2024. In the transaction, the tenant was represented by JLL Polska.
” This transaction, the largest in the office market in Krakow, is a milestone that will significantly increase Volvo’s visibility in the city”, comments Przemek Berendt, Head of Volvo Tech Hub.
“Kraków is a place with enormous potential in terms of well-educated IT staff, so we understand our client’s decision to open a new technology hub here”, says Agata Suder, Senior Consultant, Office Tenant Representation, JLL Polska.
Brain Park provides 43,000 sqm of office space in the centre of Kraków.
Neopak leases 10,500 sqm near Warsaw from Panattoni
Industrial packaging distributor Neopak is to move its main warehousing facilities to Panattoni Park Warsaw South IV, where it is to occupy over 10,500 sqm of warehouse and office space.
“Over the last few years, Nadarzyn has become a key logistics hub, utilising the potential of its location and the superb local infrastructure to the full”, says Michał Samborski, the Head of Development at Panattoni.
“This is our investment in the future that will improve our operational efficiency from the first day of moving in”, says Szymon Ździarski, the president of the management board of Neopak. The company is to begin operations from the park just outside Warsaw in September this year.
Panattoni Park Warsaw South IV is a logistics centre that is currently under development, which is to eventually comprise close to 100,000 sqm of industrial space in two buildings. The first stage of the development has been completed with a building of around 50,000 sqm.
