Von der Heyden Development, the service consultancy arm of Von der Heyden Group (VDHG) has a great pleasure to announce that Von der Heyden Group entered into a landmark transaction on the Polish real estate market and sold its flagship mixed-use development in Poznan – Andersia Tower to an internationally recognized renowned fund DEKA Immobilien. DEKA Immobilien is responsible for worldwide purchases and sales of properties, managing assets, and providing all other property-related services. DEKA Immobilien belongs to DekaBank Gorup that manages fund assets of about 17 billion euros.
With the sale of the 19 story Andersia Tower as THE top class A building in Poznan, its prestigious tenants and the quality of the offices and the Hotel component managed by IBB Hotels, VDHG has certainly broken a record with respect to its low capitalization rate, which has never before been achieved in any city outside of Warsaw.
Although details on financial terms were not disclosed, on signing of the sale purchase agreement, Mr Sven von der Heyden, Chairman of Von der Heyden Group commented: “Irrespective of the current turbulences on the World financial markets DEKA has been brave and forward thinking to acquire this prime property from us in an all-cash transaction. The Von der Heyden Group remains closely related to the building given its involvement in IBB Hotels as the operator of the Hotel component. We are proud to have closed this sale to DEKA and we want to wish this great Investment Fund all the luck for the future. As always, our closest advisors of Knight Frank and Clifford Chance have greatly contributed to a smooth and professional closing”
Mr Adam Trybusz, Managing Director for Poznan, Von der Heyden Group, said: “Poland is developing and becoming increasingly attractive not just because of Warsaw’s booming property market. The country’s economic development is also evident in the economic growth of its regions. Secondary cities like Poznan, Wroclaw, Katowice, Krakow, Gdansk and Lodz all have plenty to offer in terms of Prime Property – international real estate which is highly sought after because of the cash flows it generates, the quality of tenants it attracts, and the urban planning of its district. I am glad that this moment has arrived. I am proud to be able to say that VDHG has played, and continues to play, a major role in the development of the City of Poznan. Those projects that VDHG has realised with the City of Poznan would make excellent case studies of how a public and private partnership can work well in practice. While this is admittedly difficult from a legislative perspective, it is not impossible provided there are clearly established goals. The watchword is transparency, from which comes mutual trust.”
In the transaction, Von der Heyden Group was advised by Knight Frank Sp. z o.o., a company that also together with Von der Heyden Development contributed to the 100% leasing up of Andersia Tower. Mr Piotr Górecki, representing Knight Frank said: “The hotel and mixed use hotel-office development transactions are rarely seen on the Polish market due to the limited supply of good quality products. Therefore available investment opportunities are very attractive for international investors. The success of the commercial development depends, however mostly on three elements: its location, quality of the building and the market strength of the tenants. Andersia Tower has it all: Poznań, Pl. Andersa, the developer experienced in top quality commercial buildings and renown, reputable companies occupying its space. This elements place Andersia Tower among of the most unique investment products in Central Europe.”
Andersia Tower (development costs of Euro 64 mln, total development area 42.668 sqm) is a Joint Venture between Von der Heyden Group (VDHG) and the City of Poznań, located in the heart of Poznan, Poland. It perfectly blends into the environment with the 1st phase of the Anders Square development, Poznan Financial Centre (“Intelligent Building 2001″Award, developed by VDHG as well) but also with the neighboring Stary Browar Development. After PFC, Andersia Tower is again a perfect proof that private & public partnership can work well.
Andersia Tower is the tallest building in Poznań (102,1m) and the first mixed-use development with both hotel (4 star de-luxe, located on the first 9 floors of AT) and office functions (class A, upper levels). The turn-key developer’s product was fully leased up while still under construction.
The office part is 100% let and houses prestigious tenants such as: Franklin Templeton Investments Poland, Ernst & Young, IKB Leasing, Pannatoni Development. The hotel part makes the high-class 4-star hotel with 171 rooms, suits with an executive floor, presidential suite, retail outlets, restaurants, extensive conference centre and bankquet & ball rooms for up to 800 people, swimming pool, fitness club and a steam bath. The IBB Andersia Hotel is operated by IBB Hotels that has been successfully operating, e.g. Grand Hotel Lublinianka, Poland.
As the state-of-the-art technology was applied in building construction and some solutions were used in Poland for the very first time, there is no doubt that Andersia Tower can be rated as one of the very few really intelligent buildings. It conforms to the most strict standards of intelligent facilities as well as set-up standards performed by Von der Heyden Group in its European projects.
Andersia Tower was designed applying the top quality materials, natural materials have been used (marble, wood, combination of natural stone and Venetian plaster). The hotel part is comparable with the standard of a five star hotel both in terms of finishes, amenities and size of the rooms. It was vital for the investor to offer a unique hotel product and a particular focus was put on the interior design and high quality and comfortable hotel equipment.
Some innovative interior design solutions for the first time in Poznan and partly in Poland have been introduced, e.g. chaise lounge (unique window-sills arrangement – the window sill finished with an upholstered seat and a sliding table), or the bathroom glass panels.
The building complies with the sustainability idea in many ways, none of the materials used is by any means hazardous to health. Building Management System guarantees energy saving management of the building and quick intervention in case of malfunctions or emergency. The building has no boiler room, so there is no air pollution. In a swimming pool the technology of “low salinity of water” was introduced, and the technology based on electrolysis of salt. This materially improves the environmental aspect and both hotel and SPA guests are not bothered with chlorine substances and unpleasant smell.
Architect: Pracownia Architektoniczna Ewy i Stanisława Sipińskich Sp. z o.o.
General Contractor: HOCHTIEF Polska Sp. z o.o., “zero stage” performed by Warbud S.A.
Hotel Interior design: PRC Architekci Sp. z o.o.
Project Manager: Grupa Inwestycyjna Probuild Sp. z o.o.