Balmoral Properties, advised by Savills, has disposed of three office buildings from the Browar Lubicz complex in Krakow, Poland. The new owner is French-based PAREF Gestion, who made the acquisition on behalf of SCPI Interpierre Europe Centrale. The parties agreed not to disclose the value of the transaction.
Browar Lubicz is a mixed-use development that seamlessly blends the elements of the traditional architectural design of the former brewery and a modern building. The transaction comprised three office buildings from the complex with a combined area of 7,500m².
The property is located at Lubicz Street, directly opposite Krakow Main Railway Station and Galeria Krakowska, just 800 metres from Krakow’s Main Market Square. Tenants include one of the leading app-based mobility service providers, CentralNic, a multinational holding company providing domain name registry services, web hosting and web traffic monetisation, and YGGDrasil, a Swedish provider of gaming solutions.
Tomasz Buras, CEO and Head of Investment, Savills Poland, said: “Thanks to its prime location, Browar Lubicz ties in with the strategy of investment funds targeting assets close to key transport hubs. It is unique in being one of very few modern office buildings located so close to the historic Main Market Square and the Tower of St. Mary’s Basilica. The transaction is a confirmation of the continued trust and confidence of cross-border capital in high-quality properties in Poland.”