Vastint Poland buys Arkady Wroclawskie
Vastint Poland has signed a preliminary agreement with Develia Group for the sale of the real estate on which the Arkady Wroclawskie multifunctional building is located. The transaction is to be finalised by the end of August 2025.
Arkady Wroclawskie is a retail and office building located in Wrocław in the quarter of Powstancow Sl. Street, Swobodna Street, Komandorska Street and Nasypowa Street. The property includes a 4-story shopping centre with a shopping and entertainment area, a 13-story office building, and a 1-story underground car park along with a cubic parking lot. The signed agreement is for the sale of the land property along with the entire mixed-use development. The final agreement should be signed by the end of August 2025, subject to the fulfilment of conditions precedent.
“The agreement we have signed brings us closer to the sale of Arkady Wroclawskie, and thus to the realization of our strategic goal of divesting our office and retail portfolio. We are well on our way to achieving this, as Arkady Wroclawskie is our last commercial building. We have reinvested the funds we have raised from the transactions completed to date in dynamic growth in the residential segment through organic growth, acquisitions, as well as joint venture partnerships. As a result, we have significantly strengthened our position at the forefront of residential developers, and we aim to continue this trend. Arkady Wroclawskie will go to an experienced investor with a wide portfolio of mixed-use projects, so I am convinced that this quarter of the city will gain a new quality," says Andrzej Oślizło, president of Develia.
„For many years, Arkady Wroclawskie has been a place for meetings, shopping, and various events for the Wroclaw community, while being an essential element of the city's commercial landscape. Our investment plans call for demolishing the existing complex and replacing it with a modern, mixed-use development. A well-planned project in the city centre will bring numerous benefits to the local community, attracting residents and businesses and creating a dynamic, attractive space to live, work and spend leisure time," says Roger Andersson, managing director of Vastint Poland.
Currently, the operations of the Arkady Wroclawskie shopping centre are being phased out and will close in the first half of 2024.