Von der Heyden secures financing for Poznan's ABC

International builder Von der Heyden Group said on Thursday that it has secured financing from Bank Zachodni WBK (BZWBK) for the development of the Andersia business centre (ABC) in Poznan, Poland, allowing construction work to start on the site in July this year.

Andersia, a joint venture with the City of Poznan, will involve an investment of around EUR 33 mln and is expected to be delivered in the third quarter of 2012. The site is located at Plac Andersa, in central Poznan, and is planned to offer 14,000 m² of office and retail space over five storeys and 150 parking spaces. Porr's Polish unit has been mandated as general contractor while architects Ewa and Stanislaw Sipinscy were responsible for design.

'I am particularly proud and relieved to have been able to strengthen our ties with BZWBK, who even during a difficult market environment at all times during the last years has been a reliable but also commercially thinking partner,' said chairman Sven von der Heyden. 'Getting projects of this size financed is not that easy these days.' Knight Frank acted as broker and financial advisor on the deal.

Andersia constitutes the third phase of the Anders Square development, which in a later phase will see the construction of another 35,000 m² of office facilities. Phase I was sold to AIB Polonia Property Fund in December 2004 and Phase II was sold to Deka Immobilien in January 2008.