The Development Consultancy Department of CB Richard Ellis (CBRE) has represented PEKAES SA, a part of the Kulczyk Holding group, in the sale of their development site in the center of Warsaw. The property was purchased by OKAM Capital.
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A residential scheme has been designed for the site.
The site is located in Wola district and is bounded by Siedmiogrodzka, Karolkowa and Gieldowa streets, with a land area of 12,216 m². It has been designed for a residential scheme, which will be additionally serviced by the commercial element on the ground floor which is clearly separated from the residential part of the building. The property holds a valid building permit.
CB Richard Ellis represented the seller in this transaction an SPV controlled by the PEKAES SA group.
"In our opinion both parties of the transaction made an adequate business decisions by finalizing this deal. It allows PEKAES SA to execute profit and concentrate on the core business activity in compliance with the previously adopted strategy.
"On the other hand an appropriate preparation of the site for development process as well as an excellent location gives the buyer an opportunity to execute the investment project successfully," said Mikolaj Martynuska, Director of Development Consultancy at CBRE.
"The site is located in the growing Wola business district, very close to CBD. Continuous development of the neighboring properties is transforming this area into a prime business and residential location," added Martynuska.
Source: CB Richard Ellis
CB Richard Ellis represented the seller in this transaction an SPV controlled by the PEKAES SA group.
"In our opinion both parties of the transaction made an adequate business decisions by finalizing this deal. It allows PEKAES SA to execute profit and concentrate on the core business activity in compliance with the previously adopted strategy.
"On the other hand an appropriate preparation of the site for development process as well as an excellent location gives the buyer an opportunity to execute the investment project successfully," said Mikolaj Martynuska, Director of Development Consultancy at CBRE.
"The site is located in the growing Wola business district, very close to CBD. Continuous development of the neighboring properties is transforming this area into a prime business and residential location," added Martynuska.
Source: CB Richard Ellis
