Savills advises Allianz on Platinium transaction

Property adviser Savills said it represented Allianz Real Estate in the acquisition of Warsaw's Platinium Business Park.

The five-building complex was sold by Globe Trade Centre to Allianz Real Estate over the summer for a total of EUR 173 mln.

Platinium comprises a total of 56,000 m² at the junction of Domaniewska Street and Wo³oska Street in Warsaw's Mokotów district. The scheme is almost 100% let to tenants including Publicis Group, Peugeot, Panasonic, Aviva and Levi Strauss.

Micha³ Æwikliñski, head of investment at Savills Poland, said: 'This is a key transaction in the Warsaw investment market and is evidence that international investors are seeking well-let, quality assets in prime locations. After a relatively protracted completion process, this deal also shows that transactions are taking longer than before with more detailed and exacting due diligence, which shows a maturity and stability that we have not seen before.'