PHN Group has signed an agreement on building and renting a retail facility for an established commercial entity. The facility will be used for retail purposes.
The cooperation between PHN Group and the commercial entity assumes project implementation in the built-to-suit formula – a “tailor-made” project, adjusted to the needs of the future tenant. As part of the project, PHN Group will design, construct, and then rent out a retail facility with accompanying technical infrastructure, taking into account the tenant’s requirements and standards. The agreement has been signed on the condition that building permit is obtained until the end of 2017, and covers a 10-year rental period from the day of commissioning the retail facility, with the possibility of extending it for another 5 years.
“The project will include the construction of a retail facility with a total area of ca. 1,100 sq.m. It will be the first project in the plan of end-to-end commercialization of the property located in Warsaw’s Lewandów, by Trasa Toruńska. The concluded agreement is in line with our strategy, assuming the implementation of BTS commercial projects for selected tenants. It is worth noting that it is yet another project started recently by PHN Group. I will remind you that in March, we started the first stage of the Hillwood & PHN Pruszków project carried out as a joint venture with Hillwood, for which we have acquired tenants with an established market position – Cosentino Group and Westwing, thus reaching a pre-let of 55%. Building works will be completed in Q3 this year, and the warehouse building will be commissioned by November,” said Maciej Jankiewicz, President of the Management Board of Polski Holding Nieruchomości S.A.
The property on which the retail facility will be constructed has an area of 8,700 sq.m. and is located on the border between the Capital City of Warsaw and Marki, by Trasa Toruńska (S8) and in close proximity to the Lewandów Leśny estate. The area which will be developed under the project is ca. 3,700 sq.m.
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Polski Holding Nieruchomości Group
The Polski Holding Nieruchomości Group is the leading managing investor in the commercial property market in Poland. It is one of the largest companies in the sector in terms of the market value of its portfolio, which includes ca. 140 properties and nearly 700 ha of land across the country (e.g. in Warsaw, Poznań, Wrocław and the Tri-City). PHN has long experience both in real estate management and construction project implementation. The Company has been listed on the Warsaw Stock Exchange since February 2013.
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Contact:
Magdalena Kacprzak, Head of the Marketing, Strategy, Investor Relations and PR Office
mob. +48 721 000 071; phone +48 22 850 91 34; e-mail: magdalena.kacprzak@phnsa.pl
