Vastint Poland has entered into a definitive agreement for the sale of the first stage of Business Garden Poznan. The Singaporean fund Cromwell European REIT became the new owner of the property.
The four office buildings located at Kolorowa Street, the first phase of the nine buildings comprising Business Garden Poznan, were commissioned in 2015. They offer 42,000 sqm of modern office space leased by global brands as Santander, Daikin, Man, John Deere, Capgemini, GSK, Homag, Lidl and Carry. Business Garden Poznan is one of the few projects located outside the city centre that has received LEED certification at the Platinum level in Poland.
“The conditions on the Polish real estate market that we are currently experiencing are exceptionally attractive. Responding to a great deal of interest from institutional and private investors, we decided to capitalize on the opportunity and sell four buildings from our portfolio,” said Roger Andersson, Managing Director, Vastint Poland.
“We are observing constantly growing interest from both companies and employees in the work environment created by developers. The scale and scope of amenities for tenants used in Business Garden Poznan make it an excellent investment product. The complex is an excellent base for tenants to thrive on, which in turn will translate into a dynamic of the return on investment for the new owner in the future,” comments Piotr Mirowski, Senior Partner and Head of the Investment Advisory Department at Colliers International.
Business Garden Poznan is a modern complex that consists of nine Class A office buildings with a total leasable area of 88,000 sqm and a detached multi-level garage. The buildings are located on a 6-hectare plot within Streets Marcelińska, Bułgarska and Łubieńska. The complex is characterized by low-scale buildings, a large share of green areas and a wide range of facilities tailored to the needs of tenants. At their disposal are a kindergarten, fitness club, canteen and medical facility. The distinguishing element of the investment is a large, open garden available to tenants. In the relaxation zones, employees can rest and actively spend time outdoors, playing volleyball, basketball or boules. The complex also offers extensive infrastructure for cyclists.
In the sales process, Vastint Poland was assisted by law firm Magnusson and consulting company Colliers International. The Cromwell European REIT fund was advised by the Wardyński & Partners law firm.