- Polish properties sold for more than €160 mn in total
- Sale of Hauptpost Potsdam for €19 mn rounds off Fast Track 2017
(Vienna, 22-01-2018) The turn of the year has been characterised by a range of sales successes for UBM. The “Kotlarska” office building in the heart of Krakow, completed in December, was sold to the Czech real estate mutual fund ZFP realitní fond for around €30 mn before the end of the year. This month, the “Pegaz” office building, completed a year ago and boasting almost 21,000 m² lettable space in a top location in Wroclaw, was sold to Hamburg’s Warburg-HIH for around €54 mn. Two hotels in Poland went to Union Investment – one was the Holiday Inn “Twarda” in Warsaw for around €41 mn. The other one is the Holiday Inn in Gdansk, which is under construction until spring 2019 and which was sold in a forward sale structure to Union Investment for around €38 mn.
“Through a new way of collaboration between the UBM teams in Poland, Vienna and the hotel division, we have managed to generate a sales volume in excess of €160 mn in a remarkably short period”, said Chairman of the UBM Polska Managing Board, Peter Obernhuber.
The accelerated sales programme Fast Track 2017 was rounded off with the acquisition of the historic Hauptpost building in Potsdam by Austrian S-Immo for around €19 mn.
“UBM has thereby proven its ability for turning around projects extremely quickly and can now focus on developing the adjoining, undeveloped land”, explaines Managing Director of the German business Christian Berger.
“Fast Track 2017 in its entirety can go down as a real success-story. A year ago none of us would have dared think it possible”, added Andreas Zangenfeind, Executive Committee member responsible for Transactions.
“Kotlarska” office project in Krakow
| Time of impact | Q4/2017 |
| Net sales proceeds | approx. EUR 30 mn |
| Effect on total output | 100% |
| Effect on revenue | None (share deal) |
| Effect on net debt | approx. EUR 30 mn |
“Pegaz” office project in Wroclaw
| Time of impact | Q1/2018 |
| Net sales proceeds | approx. EUR 54 mn |
| Effect on total output | 100% |
| Effect on revenue | 100% (asset deal) |
| Effect on net debt | approx. EUR 54 mn |
Holiday Inn “Twarda” in Warsaw
| Time of impact | Q1/2018 |
| Net sales proceeds | approx. EUR 41 mn |
| Effect on total output | 100% |
| Effect on revenue | 100% (asset deal) |
| Effect on net debt | approx. EUR 41 mn |
Holiday Inn in Gdansk
| Time of impact | expected Q1/2019 |
| Net sales proceeds | approx. EUR 38 mn |
| Effect on total output | 100% |
| Effect on revenue | 100% (asset deal) |
| Effect on net debt | approx. EUR 38 mn |
Potsdam Hauptpost (standing asset)
| Time of impact | Q1/2018 |
| Net sales proceeds | EUR 18.7 mn |
| Effect on total output | EUR 9.4 mn |
| Effect on revenue | None (at equity consolidation) |
| Effect on net debt | EUR 9.4 mn |
UBM Development AG is the leading hotel developer in Europe. The strategic focus is on the three clearly defined asset classes Hotel, Office and Residential and the three core markets Germany, Austria and Poland. With 145 years of experience, UBM focuses on its core competency – developing real estate. From planning through to marketing the property, UBM offers all services from a single source. The UBM shares are listed on the prime market segment of the Vienna Stock Exchange.
For enquiries:
Thomas G. Winkler
CEO
UBM Development AG
Tel.: +43 (0)50 626-1471
Email: public.relations@ubm.at