The Radisson Blu hotel in Wroclaw, developed by UBM Development AG and completed in 2002, has a new owner. Union Investment has secured the established five-star hotel in the centre of Wroclaw for its UniInstitutional European Real Estate fund. The purchase price was not disclosed. This is Union Investment’s second property purchase in Wroclaw within the past eight months. Wroclaw is Poland’s fourth largest city, with more than 630,000 inhabitants. In December 2014, the Hamburg-based real estate investment manager acquired the Dominikanski office built for UniImmo: Deutschland via a forward purchase arrangement.
The hotel offers 162 rooms, 75 parking spaces, a 200-square-metre health spa and conference facilities for up to 350 people. The seven-storey hotel also features a restaurant and bar area with seating for 170. Its spacious inner courtyard is shared with the Academy of Arts. Wroclaw city centre with its many tourist attractions is within easy walking distance of the hotel, while the National Museum and the famous painting of the Panorama of the Battle of Raclawice are right on the doorstep.
In 2016, Wroclaw is set to become European Capital of Culture and will also host the 2016 European Film Awards ceremony. The World Games will be held in the city in 2017. These events are expected to provide a significant boost to both domestic and international tourism.
Source: Union Investment