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Chełmska sold

10 January 2019

Chełmska sold
Sando bought the site at auction in 2006
POLAND The site of the Chełmska bus terminal at the junction of ul. Chełmska and ul. Czerniakowska in Warsaw, has been sold by Spanish investor Sando.

The sale of the 5 ha plot was brokered by Colliers International. Acoording to Eurobuild sources the buyer is Polish developer, Konstanty Strus and the price comes to around PLN 300 mln gross. A building permit has already been issued for the first stage of a project including a 12,337 sqm residential area with 8,719 sqm of retail space and 36,369 sqm of office space. Eventually around 100,000 sqm of space could be developed.

“The Chełmska project was a complex transaction to sell one of the most interesting plots in Warsaw and it is one of the largest deals on the land market in Poland over the last 10 years,” claims Emil Domeracki, the director of investment land at Colliers International. “I want to thank our partners, Sando and Bank Pekao for their trust and flexibility at strategic points of putting the deal together. In 2019 we expect further spectacular land deals not only in Warsaw but also in Gdańsk, Gdynia, Wrocław and Poznań,” he announced. In November 2006 Sando bought the site at auction for PLN 371.45 mln.

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