Von der Heyden Group sold its ‘Maraton Gardens’ Project in Poznań to Restaura!

13.06.2007

Von der Heyden Development, the service consultancy arm of Von der Heyden Group is pleased to announce that Von der Heyden Group has sold one of its residential plots in Poznań to the experienced and renowned Spanish developer – Restaura, a company specializing in purchasing historical buildings for their renovation and later resale.

Maraton Gardens project is located in the heart of Poznań, at the intersection of Królowa Jadwigi Street and Maratońska street in the close neighbourhood of the Old Town. The site is 22.332 sqm.

Von der Heyden Group has sold not only the site itself but the completely prepared investment package with a building permit ready for realization. The architectural design has been prepared by PRC Architekci, a company that co-operated with VDHG’s other projects in Poland like e.g. Liberty Corner in Warsaw, or in terms of interior design with soon to be completed Andersia Tower in Poznań. The Maraton Gardens project foresees 251 apartments in 6 buildings (each max. 5-6 floors) with an underground car park.

Although financial terms were not disclosed, on signing of the sale purchase agreement, Mr Sven von der Heyden, Chairman of Von der Heyden Group said:

“We are happy that the Project has found a serious buyer for whom I personally have a lot of respect. We have decided to sell Maraton for a series of reasons such as the stateof the market and the fact that we have projects only in Poznan in the pipeline of more than Euro 140 mln. And last but not least something I have learnt from my days working as a Bond Dealer, nobody ever died taking profits”.

Mr Adam Trybusz, the Managing Director for Poznań, said:

‘I didn’t work at the stock exchange but I learnt a lot from Sven von der Heyden. Moreover, as a Poznan resident I’m glad we have a new professional developer at the local market. As it’s about my role in the Group, sale of the ‘Maraton Gardens’ project releases energy for next buildings at the Anders Square. Believe me, we are only half way now. We have ‘Andersia Front Office’ and an exciting ‘Andersia Silver’ in front of us.’

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Von der Heyden Group sold its ‘Maraton Gardens’ Project in Poznan to Restaura