Tawstock Estates finalizes sale of Euromarket Office Center in Kraków (PL)

Tawstock Estates has finalized the sale of Euromarket Office Center in Kraków, Poland. The purchaser is a vehicle managed by Bluehouse Capital. CBRE together with Savills advised the vendor in the investment transaction.

Euromarket, located at Jasnogorska street in Kraków, is a five-story building offering ca. 10,600 m² of modern office space and over 1,600 m² of retail area. The Property was completed in 2001. Euromarket was designed with the application of modern architectural and technical solutions. The Building provides the tenants with the high quality technical solutions such as BMS, suspended ceilings, air-conditioning, full range of telecommunication services, 24-hour building monitoring and security systems. The main tenants are BP Europe and CanPack SA.

Mike Atwell, Senior Director of CEE Capital Markets at CBRE, commented: “The disposal of Euromarket Office Center proves that from a cross-border investor perspective, Poland continues to be the most active market in the CEE region and high on most investors target lists. We observe a growing investors’ appetite for assets located not only in Warsaw, but also in regional cities in Poland. This trend will continue in 2014.”

Michał Ćwikliński, Director and Head of Investment Department at Savills, said: “This transaction yet again proves that there is a strong interest in the regional cities in Poland and not only the prime assets, but also those that allow for adding value. The demand for such properties is growing on the pan-European basis and here we have another example.”

Source: CBRE

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