MOTOKÓW-WARSAW
A Two modern warehouse buildings with a total area of approx. 5,000 m2 and two older warehouse buildings (demolished after purchase) with a total area of approx 2,000 m2 (portion of purchase price for total area occupied by warehousing – €4 mln).
B Two modern warehouse buildings with a total area of approx. 5,000 m2 and two older warehouse buildings (demolished after purchase) with a total area of approx 2,000 m2 (portion of purchase price for total area occupied by warehousing – €4 mln).
C Investment site with valid building permit for two office buildings (subsequently developed as Helion and Lumninar) with a total area of approx. 14,650 m2 (portion of purchase price – €2.7 mln ).
Purchase Date
|
August 2005
|
Purchase Price
|
€9,7 mln (split as above)
|
PHASE ONE – RESIDENTIAL SITE
Outline planning permission for 77,000sq.m of residential development was secured and the site was sold to Layetana in May 2007.
Purchase Price (portion of larger price paid for whole Park)
|
€ 4 m
|
Project Budget
|
€ 500,000
|
Sale Date
|
May 2007
|
Sale Price
|
€ 24 m
|
Sale Price per useable m²
|
€ 330 per sq.m of buildable apartments
|
PHASE TWO – HELION OFFICE BUILDING
Construction began in August of 2006 and was completed in August 2007 providing 9,030 m² over seven floors.
The building was fully leased in 2007 to Skandia, Tele 2, Wola Info, Gerber, and Royal Unibrew.
In December 2007 Helion was sold to the German investment fund Deka Immobilien releasing a sizeable profit
Purchase Price (Portion of larger price for whole park)
|
€ 1.6 m
|
Development Budget
|
€ 13,3 m
|
Sale Date
|
December 2007
|
Sale Price
|
€ 25.5 m
|
Initial Yield
|
6 %
|
Purchaser
|
Deka Immobilien
|
PHASE THREE – LUMINAR OFFICE BUILDING
Construction began in August of 2007 and was completed in August 2008.
The building was 100% leased for 10 years in 2008 to BRE Bank.
In August 2008 Luminar was sold to the German investment fund Deka Immobilien releasing a good profit.
Purchase Price (portion of larger price for whole park)
|
€ 1.025 m
|
Development Budget
|
€ 9.6 m
|
Sale Date
|
September 2008
|
Sale Price
|
€ 17 m
|
Initial Yield
|
5,85 %
|
Purchaser
|
Deka Immobilien
|
PHASE FOUR – SOLAR OFFICE BUILDING
The property was renovated in small phases from 2008 and fully re leased to a number of tenants including Medicover, Beko, Berlin Chemie, Lily Moly, ZPUE, Bard, and Styropol.
The property currently produces a net income of €860,000 pa.
Purchase Date
|
2005
|
Purchase Price
|
€ 3 m
|
Redevelopment Budget
|
€ 500,000
|
Net income pa
|
€ 860,000
|
Valuation December ‘12
|
€ 7.9 m
|