Investment Portfolio
Panattoni Park, Tychy – Poland: Bluehouse initiated the development of a modern class A multi-tenant logistics centre offering 68,000 sqm of warehouse space and 5,000 sqm of office space to be built in Bieruń near Tychy, one of the biggest automotive clusters in Poland and an established logistics hub. The business plan is to develop the Silesia South centre in two phases with the last phase to be completed in 2020. The phase under construction has been pre-leased to Havi Logistics a global provider of logistics services, operating in the FMCG sector, who has leased around 13,000 sqm.
The development will take place in cooperation with Panattoni Europe, one of the leading industrial developers in CEE.
Upper Silesia region is the second biggest industrial market in Poland with over 2.8M sqm available. The region has robust economic situation with low unemployment and high business activity. It is well connected with Czech Republic and Slovakia via A1 and S1 motorway respectively, it is also possible to use A4 motorway to commute to the Western Europe and Ukraine. By the end of 2022 the remaining parts of A1 motorway allowing to shorten the drive time from North to South of Poland.
The companies operating in the area apart from servicing Upper Silesia can provide their products and services to their clients located in the southern Poland and the broader CEE region.
Novodvorska Plaza shopping centre, Prague – Czech Republic: Bluehouse completed the acquisition of Novodvorska Plaza shopping centre in Prague. The shopping centre with a retail area of circa 25,000 sqm was built in 2006 and serves a large population extending over Prague 4 and Prague 12 with over 150,000 residents within a 10 minute public transport radius. The center currently attracts ca. 5 million annual footfall and is leased to over 70+ tenants, the major tenants include Tesco hypermarket, H&M, Datart, Sportisimo, Lindex.
2018 September
Marynarska Point 2, Warsaw – Poland: Bluehouse acquired an office building of nearly 14,000 sqm located in Mokotow – one of the largest and most dynamic business districts in Central Europe. The property was constructed in 2008 and is in very good condition, offering suspended ceilings, programmable and regulated air-conditioning, structural cabling, security and 24h monitoring, as well as a power generator. Additionally, the asset underwent a refurbishment of the ground floor (including the reception and patio) which now features a modern, visible reception layout as well as a lounge area. This is complemented by an outside patio which serves as a leisure component for tenants and visitors. There are 10 above-ground levels and 265 underground parking spaces. Major tenants include DNB Bank, Regus and T-Mobile.
Panattoni Park Warsaw North, Warsaw/Radzymin: Bluehouse initiated the development of a modern class A multi-tenant logistics centre offering 53,000 sqm of warehouse space and 3,000 sqm of office space to be built in Radzymin near Warsaw, one of the most sought-after destinations for logistics / industrial occupiers. The business plan is to develop the Warsaw North centre in two phases with the last phase to be completed in 2019.
Phase 1 is currently 45% pre-leased. There is strong interest from tenants for the remaining space. Each phase is expected to achieve significant pre-let prior to and during construction.
Radzymin is approximately 28 km from Warsaw, being the capital and the largest city in Poland, an important and established industrial hub strategically located in the centre of the country.
The area offers good quality infrastructure and business-related services being consistently ranked the most business-friendly city in Poland.
The Warsaw region is the biggest logistics market in Poland (35%). It is served by the A2 motorway (E-W) which is the main gateway for national and international inbound and outbound traffic. The A2 motorway connects with the Warsaw ring road, which grants access to the major airports and the city centre, as well as the S8 express road, which connects Western and Eastern Europe with the Baltic Countries, Belarus and Russia.
Panattoni Park Warsaw North, Warsaw/Radzymin: Bluehouse initiated the development of a modern class A multi-tenant logistics centre offering 53,000 sqm of warehouse space and 3,000 sqm of office space to be built in Radzymin near Warsaw, one of the most sought-after destinations for logistics / industrial occupiers. The business plan is to develop the Warsaw North centre in two phases with the last phase to be completed in 2019.
Phase 1 is currently 45% pre-leased. There is strong interest from tenants for the remaining space. Each phase is expected to achieve significant pre-let prior to and during construction.
Radzymin is approximately 28 km from Warsaw, being the capital and the largest city in Poland, an important and established industrial hub strategically located in the centre of the country.
The area offers good quality infrastructure and business-related services being consistently ranked the most business-friendly city in Poland.
The Warsaw region is the biggest logistics market in Poland (35%). It is served by the A2 motorway (E-W) which is the main gateway for national and international inbound and outbound traffic. The A2 motorway connects with the Warsaw ring road, which grants access to the major airports and the city centre, as well as the S8 express road, which connects Western and Eastern Europe with the Baltic Countries, Belarus and Russia.
Panattoni Park, Poznań – Jaryszki, Poland: Bluehouse initiated the development of a modern class A multi-tenant logistics centre offering 86,871 sqm of warehouse space and 3,761 sqm of office space within the Poznan-Jaryszki logistics cluster. The industrial park is going to be constructed in 4 phases with the last phase to be completed in 2019. Phase 1 is currently 65% pre-leased. There is strong interest from tenants for the remaining space with leases being negotiated for approximately 30,000 sqm. Each phase is expected to achieve significant pre-let prior to and during construction.
2017 July
Alchemia I was sold to Deutsche Alternative Asset Management, a subsidiary of Deutsche Bank and one of the largest international real estate managers. Alchemia I was acquired in July 2015 and during the holding period Bluehouse added value by institutionalizing the asset in terms of its technical position, increasing the building’s occupancy and re-gearing existing leases with all tenants being retained.
Bluehouse completed the acquisition of Alchemia I, a modern Grade A multifunctional complex in Tricity, Poland. Alchemia I was completed in December 2013 and consists of two towers (of eight and six stories respectively) with a total GLA of 24,647 sqm. Alchemia I benefits from a diverse and strong tenant line-up covering a wide range of sectors, the 3 largest tenants include: Dynatrace, Kemira Gdansk and Gdańskie Wydawnictwo Oświatowe. The building incorporates a wide array of state-of-the-art technical solutions, which means reduced environmental impact, reduced operating costs and a top-quality work environment. Alchemia I is the first in Tricity, and one of the few projects in Poland, which has been granted LEED Platinum pre-certification, the highest level achievable under the rating for Leadership in Energy and Environmental Design.
Bluehouse completed the acquisition of Malta House office building located in the Central Business District of the city center of Poznan, Poland. Malta House is a modern Grade A five-story office building offering 14,270 sqm of office space, 1,254 sqm of retail space, and 273 parking places on 2 levels of underground parking. It was developed in July 2013 by Skanska and is of a very high standard, with modern specifications and state of the art architecture. The largest tenants include: Franklin Templeton Investments, Ciber Polska and Skanska. Malta House was awarded with a prestigious “LEED PLATINUM” certificate, thus becoming the 3rd office building in Poland and 1st in Poznan with this certification; and in line with Bluehouse’ commitment to environmental sustainability.
Hungary
Bluehouse completed the acquisition of one Grade A and two Grade B+ office buildings in Hungary. The portfolio consists of Margit Palace, a Grade A office building located in the city center of Buda, which was completed in 2003 with a GLA of 17,193 sqm of office space, 1,889 sqm of storage space and 229 underground parking spaces; and Terraparks A&B, located in Budaor, which were completed in 2002, and combined have a GLA of 26,216 of office space, 3,834 sqm of storage, 70 underground parking spaces and 242 above-ground parking spaces. Tenants include Roche, Dupont, Invitel, Emea Remote and Justice Table, to name a few. This latest acquisition demonstrates our unique access to off-market deals as a result of our longstanding relationships in the region. Having pre-negotiated with the bank the optimal capital structure for the buildings, we will now pursue an active management strategy to include vacancy reduction, lease extensions and refurbishment work which, when completed, will enable us to benefit from stable, recurring income, and from yield improvement as a result of their institutionalization.