2001 – 2005
Between 2001 and 2005, Celtic Asset Management undertook a number of instructions from NCC to commercialize the following property developments:
1.Brama Zachodnia, a 23,800sq.m office development at Jerozolimskie 92, Warsaw Poland which was successfully let to Eriksson, Marsh Mclennan, Forever Living Products and Direct Line Insurance. The building was sold to DEKKA in 2004 for $65m. CAM undertook the leasing, advised on the commercial design and fit out, and undertook the negotiations for the sale of the property.
2.Obuda Gate, 14,000sq.m retail and office building in Obuda, Budapest, Hungary which was successfully leased to a number of tenants including Ford and L’Oreal, Sony, Transys and Reckit Benkiser. The property was sold in 2004 to the Polonia Fund for ca. €28m.
3.Airport Retail Centre, an 8,000sq.m box retail scheme in Budapest, Hungary predominantly let to Dixons in the UK and sold for ca. €12m in 2004 to PRICOA.
4.Bundesalle, an 8,450sq.m office building in Berlin, Germany which was let to a number of tenants including Impuls AG, Brunnel, Drees and Sommer, Kaiser and Eurotax and sold in 2004 for ca. €20m reflecting a yield of 9%.
5.NZ9, a 6,500sq.m office building together with a 205 bed hotel in Nodlicher Zubringer 7-11, Dusseldorf which was let to Novell and Novotel hotels and subsequently sold in 2003 for € 13m.
6.Dortmund, a 8000 sq.m office building which was fully let out and sold in 2004 to a private German investor for €12 m.
7.Sale of a Hotel and 11,500sq.m office complex in the Seestrum Sentrum, Dusseldorf for €65m to DGI in 2003.
8.Advise and assistance on the sale of NCC’s office headquarters in Solna, Sweden and on their office portfolio in Oslo, Norway.
9.Sale of a site to Stellar LLC in in Grzybowska, Warsaw, allowing for the development of 14,000sq.m of offices.