Savills and CBRE have advised Tawstock Estates on finalising the sale of Euromarket Office Center in Kraków, Poland. The purchaser is a vehicle managed by Bluehouse Capital.
Savills and CBRE have advised Tawstock Estates on finalising the sale of Euromarket Office Center in Kraków, Poland. The purchaser is a vehicle managed by Bluehouse Capital.
Euromarket, located at Jasnogorska Street in Kraków, is a five-storey building offering circa 10,600 sq m of modern office space and over 1,600 sq m of retail. Euromarket was designed with modern architectural and technical solutions and the property was completed in 2001. The building provides tenants with high quality technical solutions such as BMS, suspended ceilings, air-conditioning, a full range of telecommunication services, 24-hour building monitoring and security systems. The main tenants are BP Europe and CanPack SA.
Michał Ćwikliński, director and head of the investment department at Savills Poland, says: “This transaction yet again proves that there is a strong investment interest in the regional cities in Poland and not only prime assets but also those that allow for adding value. The demand for such properties is growing on a pan-European basis and here we have another example.”
Mike Atwell, senior director of CEE capital markets at CBRE, comments: “The disposal of Euromarket Office Center proves that from a cross-border investor perspective, Poland continues to be the most active market in the CEE region and high on most investors target lists. We observe a growing investor appetite for assets located not only in Warsaw, but also in regional cities in Poland. This trend will continue in 2014.”