VDHG sells residential project in Poznań (PL)

Von der Heyden Development, the service consultancy arm of Von der Heyden Group, has announced that Von der Heyden Group has sold the residential project Maraton Gardens in Poznan to the Spanish developer Restaura, a company specializing in purchasing historical buildings for their renovation and later resale.

Maraton Gardens is located in the heart of Poznan, at the intersection of Królowa Jadwigi Street and Maratonska street in the close neighbourhood of the Old Town. Von der Heyden Group has sold not only the 22.332-m² site but the completely prepared investment package with a building permit ready for realization. The Maraton Gardens project foresees 251 apartments in six buildings (each max. 5-6 floors) with an underground car park.

The architectural design has been prepared by PRC Architekci, a company that co-operated with VDHG's other projects in Poland like Liberty Corner in Warsaw, or in terms of interior design with soon to be completed Andersia Tower in Poznan.

Although financial terms were not disclosed, on signing of the sale purchase agreement, Mr Sven von der Heyden, Chairman of Von der Heyden Group, said, "We are happy that the project has found a serious buyer for whom I personally have a lot of respect. We have decided to sell Maraton for a series of reasons, such as the state of the market and the fact that we have projects only in Poznan in the pipeline of more than €140 million. And last but not least something I have learnt from my days working as a Bond Dealer, nobody ever died taking profits."

Mr Adam Trybusz, Managing Director for Poznan, said, "I didn't work at the stock exchange but I learnt a lot from Sven von der Heyden. Moreover, as a Poznan resident I'm glad we have a new professional developer at the local market. As it's about my role in the Group, sale of the 'Maraton Gardens' project releases energy for next buildings at the Anders Square. We are only half way now. We have 'Andersia Front Office' and an exciting 'Andersia Silver' in front of us."

Source: VDHG

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