POLAND

The Generation Park Z Warsaw office building has been sold to Deka Immobilien, one of Europe’s leading real estate investment managers.

The Warsaw office building was sold by Skanska for €98 million. It is Deka’s fourth acquisition with Skanska in Central and Eastern Europe.

The Generation Park Z office building in Warsaw
Generation Park Z Warsaw Offices

Katarzyna Zawodna-Bijoch, President and Chief Executive Officer of Skanska commercial development business in Central Eastern Europe, says, “The office sector remains one of the safest in a volatile market situation. A combination of the trustworthy Skanska brand and high-quality futureproof building leased to well-known tenants create a valuable and stable investment product, also for uncertain times.”

Generation Park Z is part of the Generation Park office complex in the heart of Warsaw. The three-building complex offers around 87,000 square meters and benefits from very good transportation options.

Generation Park Z is fully leased to Vistra and Crido, among others. The property has a total leasable area of around 19,000 square meters and 110 underground parking places plus bike parking areas.

Warsaw office demand extremely high

Adrian Karczewicz, Head of Divestments at Skanska commercial development business unit in the CEE, says, “Skanska has been an active player on the Warsaw office market for years. Generation Park Z is located in the most desirable and fastest growing Warsaw city center destination in recent years. The demand for prime office buildings in this location is extremely high, that’s why we are happy to meet the needs of investors and tenants by delivering our innovative and futureproof workplaces there. We are pleased that Deka has once again chosen one of our buildings,”

The demand for new offices in the capital city of Poland remains high and drives developer activity. In 2019, 17 new buildings were delivered with a total volume of 162,000 square meters and Generation Park Z was one of the three largest office developments among them, according to JLL.

Skanska focuses on delivering sustainable and human-centric projects that are environmentally friendly and support the tenants’ health and wellbeing.

Common areas in Generation Park Z consist of many elements such as a tree in the main lobby or a mural inside the garage entrance. The property’s amenities include restaurants and coffee shops. It also has a terrace on the 13th floor with greenery.

Generation Park Z provides easy access to the office complex patio, which includes green areas with a garden café, meeting points or bike infrastructure. The pavement on the patio and around the building is an innovative “green concrete”, a unique self-cleaning product that also cleans the air of toxic compounds from car exhausts.  

Virtual reception

The building is equipped with an integrated building operating system – Connected by Skanska – which facilitates daily office management. The system will enable users to move around the building using their smartphone instead of traditional access cards. It will also provide a virtual reception. The building will feature a parking system that will recognize license plates and allocate available spaces. 

Generation Park Z has been LEED Platinum pre-certified and is applying for WELL certification. It will also apply for the Building without Barriers certificate, which proves that the building is friendly and adapted to the needs of people with disabilities and with children. 

Source: https://www.skanska.pl/en-us/about-skanska/media/press-releases/243194/Skanska-sells-office-building-in-Warsaw%2c-Poland%2c-for-EUR-98-M-

€735m France stores and warehouses deal reached

FRANCE

Casino Group has signed an agreement with Aldi France for the sale of Leader Price stores and warehouses in mainland France, for €735 million.

A Leader Price store

The unilateral promise is to purchase with a view to the sale of three warehouses and 567 stores in the Leader Price perimeter in metropolitan France, for an enterprise value of €735 million (including a €35 million earn-out, paid in the event of compliance with operational indicators during a transition period).

With this agreement, the transferred Leader Price stores will develop under the Aldi banner and will benefit from the commercial dynamics of Aldi France.

Casino Group will remain the owner of the Leader Price brand in order to continue to operate it under certain conditions agreed with Aldi, in France and internationally.

The sale will take place after consultation with employee representative bodies and subject to obtaining the authorization of the French Competition Authority.

The image is by Lionel Allorge and is from Wikipedia through Creative Commons.

Branded Bristol Airport hotel fetches £24m

UNITED KINGDOM

The Hampton by Hilton Bristol Airport has been sold for more than £24m to the Ability Group.

Hampton by Briston Airport

CBRE advised China-based CIMC Capital Ltd. (CIMC) on the sale.

The hotel has 201 bedrooms, two meeting rooms, a gym, lounge area and food and beverage facilities. It is located adjacent to the airport’s terminal, the only branded hotel at Bristol International Airport.

There is the opportunity to expand the hotel to include an additional 50 rooms.

Anuraag Badola, Director, Hotel Investment Properties, CBRE, says, “We are delighted to have advised CIMC on this transaction. This asset is a well-presented, modern hotel that benefits from both its association with Hilton Worldwide and its prime strategic location as the only hotel in Bristol Airport, an important transport hub for the city of Bristol and the South West region.”

Source: https://news.cbre.co.uk/cbre-advises-on-the-sale-of-hampton-by-hilton-bristol-airport/

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