LC Corp SA has signed preliminary sales contracts for two office compounds – Silesia Star in Katowice and Retro Office House in Wrocław for over €113m. The preliminary contracts are scheduled for signing on 15 August 2019.
Silesia Star is an A-class office compound, composed of two buildings totalling 27,000m². The complex is located in Katowice’s city centre, next to the Intercity Road, the University of Silesia and the Silesian Museum. The purchase price amounts to €54.3m. Retro Office House, a prestigious office building situated in the centre of Wrocław, offers 21,000m² of rental space and parking facilities for 155 vehicles. The building’s tenant mix consists of 13 Polish and international companies. The purchase price is €58.8m.
“The sales of office buildings Silesia Star and Retro Office House make the first transaction of this kind in our company’s history”, said Tomasz Wrobel, Board Member at LC Corp SA. “Started in February 2019, the negotiation process with Ingadi and Artigo was completed in a very efficient way."
“We are very happy to support LC Corp with the sales process of the property. The purchase of the office buildings Retro Office House and Silesia Star points to investors’ continuous interest in regional markets”, commented Marcin Purgal, the Director of the Capital Markets Department at Knight Frank. “We managed the whole process in a very short time, from signing the letter of intent, to due diligence, to the stage of preliminary contracts. All of this shows that the two parties have been fully committed to completing the deal.”
“The transaction we have worked on for our client confirms the trend observed in the Polish office property market in the past few years. Investment activity, especially in Wrocław and Katowice, is impressive and on a steady rise”, said Bartłomiej Kordeczka partner in the Property Department at Dentons.
“We believe that the perfect location of the office buildings of LC Corp will provide excellent conditions for prospective tenants to grow. We are happy not only because of the role our firm has played with this transaction, but also the entire process. Its first stage was completed in a very fast-paced manner”, sums up Maciej Jodkowski, Counsel at Dentons.
“While delivering each of our commercial properties, we focus on innovation, functionality and good location. Our office buildings meet the highest standards and individual requirements of our tenants. The best proof of our success is the short time we need to lease our buildings”, said Piotr Pirogowicz, the Director of the Lease Department at LC Corp SA.