PKP and C&W tighten cooperation

Cushman & Wakefield has been cooperating for nearly three years now with PKP S.A. in the process of commercial development of the State Treasury’s properties. Katowice Osobowa Railway Station in Katowice is only a few investments in which Cushman & Wakefield have participated as a consultant.

The cooperation has already brought about benefits in the form of acquiring investors for a number of key projects.

Jerzy Dobrowolski, Head of the Advisory Department of Cushman & Wakefield, explains: “The aim of this cooperation was to provide advice and support in the selection of the investor who would set up a special purpose vehicle with PKP SA and develop new schemes or modernize the existing ones located on plots of land near railway stations”.

The first stage of cooperation on the commercial development of Katowice Osobowa Railway Station has been successfully completed. It has resulted in the selection of a Spanish investor, Neinver, which, as a partner of PKP, will be responsible for the construction of the complex, featuring a railway station, a bus station, a retail and services center and a business and cultural center.

Cushman & Wakefield has advised on this investment project, considered as one of the most significant in the Central European real estate market, during the negotiations with potential investors on the main forms of cooperation, methods of project realizations, the value of investments outlays or project financing conditions with performance guarantees. Cushman & Wakefield’s team of experts has also took part in the preparation of investment memorandum for the prospective investors or the required conditions for the new scheme.

Cooperation does not end here. Within the long-term cooperation on the project in the first half of September this year Cushman & Wakefield was appointed an exclusive agent for the commercialization of Katowice Railway Station shopping gallery.

”We have also prepared commercial space development plans for a number of railway stations in Silesian Voivodship including Gliwice, Żywiec, Zawiercie or Myszków,” said Katarzyna Michnikowska from Advisory Department of Cushman & Wakefield. “They have enabled us to define the most effective tenant mix strategy for the PKP scheme.”

Cushman & Wakefield is supporting the company on the acquiring investors not only for railway station facilities. “We have advised on the selection of business partner for the company’s office building, located in the center of Katowice at Roździeńskiego Av., close to Spodek. The aim was to find a partner that would take over the multi-story scheme in order to modernise it and also develop another office building on the same plot,” explains Dobrowolski. Eventually, Hines decided to undertake the investment project.

All the above activities, focused on the commercial development of railway properties, are aimed at bringing in profits for PKP.

Out of cooperation with PKP, Cushman & Wakefield is also involved in another project in Katowice. As a leading agent is responsible for the commercialization of GTC’s Francuska Office Center.

based on Cushman & Wakefield’s press release