Polish international property developer Vastint has signed a preliminary agreement to acquire the Arkady Wroclawskie multifunctional building in Wroclaw, Poland from Develia Group in a deal said to close by the end of August 2025.
Arkady Wroclawskie is a retail and office building located in the quarter of Powstancow Sl Street, Swobodna Street, Komandorska Street and Nasypowa Street. The property includes a four-storey shopping centre, a 13-storey office building, and a one-storey underground car park.
The net sales price amounts to around €43 mln.
'The agreement we have signed brings us closer to the sale of Arkady Wroclawskie, and thus to the realisation of our strategic goal of divesting our office and retail portfolio. We are well on our way to achieving this, as Arkady Wroclawskie is our last commercial building,' commented Andrzej Oslizlo, president of Develia.
He added: 'We have reinvested the funds we have raised from the transactions completed to date in dynamic growth in the residential segment through organic growth, acquisitions, as well as joint venture partnerships. As a result, we have significantly strengthened our position at the forefront of residential development and and we aim to continue this trend.'
Vastint's investment plan envisages the demolition of the existing complex to replace it with a modern, mixed-use development. 'A well-planned project in the city centre will bring numerous benefits to the local community, attracting residents and businesses and creating a dynamic, attractive space to live, work and spend leisure time,' said Roger Andersson, managing director of Vastint Poland.
Currently, the operations of the Arkady Wroclawskie shopping centre are being phased out and will close in the first half of 2024.
