Wroclaw Business Park sold18 Nov 2020
Aviva Investors sold Wroclaw Business Park to Panattoni. Avison Young represented the buyer.
Wrocław Business Park has been acquired by Panattoni from Aviva Investors, the global asset management business of Aviva plc. The seller was represented by Avison Young investment team throughout the transaction.
Wrocław Business Park comprises two warehouses of ca. 9,500 sqm GLA in total and development land of ca. 10.5ha. It is located at 55 Bierutowska Street in Wrocław - in an established industrial and commercial area within the central part of Psie Pole, strategically positioned next to a major transport route and close to the A8 motorway and S8 expressway. Other notable companies operating in this area are Whirlpool, UTC Aerospace System, Bosch as well as warehouse schemes of Raben, DHL, TK Maxx.
The Property is well serviced by public transport by numerous bus lines with bus stop within 5 minutes walking distance from Wroclaw Business Park. Additionally, train station Psie Pole, servicing short and long distance trains, is situated within 10 minutes walking distance. It enables convenient communication from more distant districts as well from neighbouring cities of Wroclaw.
Wroclaw Business Park is currently leased in 100% to 3 tenants: FedEx Express, Topus and DHL. The final value of the transactions has not been disclosed.
„Industrial market is currently thriving with the total investment volume outperforming results from 2019. COVID-19 pandemic accelerated rapid development of e-commerce market. This trend is also reflected in the increase of investments in the city logistics schemes. Wrocław Business Park is a great example of such an asset: in-city location with great accessibility enabling fast transport within the Wroclaw city as well as to many destinations in Poland.” – comments Bartłomiej Krzyżak, Director, Investment, Avison Young.
Aviva Investors was also advised by Dentons.