The Polish state railways (PKP S.A.) sold its land properties in the core centre of Warsaw

16 Nov, 2011, Warsaw

POLCOM INVESTMENT VI Sp. z o.o., a part of HB Reavis Group, has won two tenders for the purchase of PKP S.A.’s land properties located in the core centre of Warsaw, at Chmielna and Al. Jana Pawła II streets. The total transaction value was PLN 171 million, which reflects PLN 9,955 per square metre of the land. Cushman & Wakefield, a global commercial real estate advisory firm, instructed by PKP S.A. organized and coordinated the tender procedure.

The subject of the first tender procedure was the right of perpetual usufruct to the land comprising two plots of a total area of 9,767 sq.m (no. 33/4 and 33/5, district 6-01-10) with ownership rights to buildings and improvements on the land. Sale price reached in the tender: net PLN 97m.

The subject of the second tender procedure was the right of perpetual usufruct to the land of an area of 7,411 sq.m (no. 33/3, district 6-01-10) with ownership right to buildings and improvements on the land. Sale price reached in the tender: net PLN 74m.

The subject properties are located in the core centre of Warsaw at the junction of Chmielna street and two main arterial routes – Al. Jana Pawła II and Al. Jerozolimskie. There is the Palace of Culture and Science, the main railway station and Złote Tarasy retail-office complex in the direct neighbourhood. The offered properties are unique in terms of their location in Warsaw’s Central Business District, size, shape and legal status.

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