Reinhold Center still unsold

On 31st of May 2011, Reinhold Polska Project 4 Sp. z o.o. – a subsidiary of Reinhold Polska AB – and PKP Cargo S.A. had concluded a conditional preliminary sale agreement on selling the Reinhold Center office complex located at 138 Korfantego Av. in Katowice. The Management Board of Reinhold Polska informed that due to the non fulfillment of the condition precedent of the agreement, the final contract has not been signed by the parties on 23rd of December 2011, as it was agreed.

The condition precedent to receive by PKP Cargo an approval of its general meeting of shareholders to purchase the property has not been fulfilled.

At the same time, Reinhold Polska notifies that has obtained the information from PKP Cargo that, as a previous tenant, the contractor is still interested in purchasing the property and will take further efforts to obtain a positive decision of the owner. According to the information received from the contractor, rental of the additional space in Reinhold Center has been taken into consideration.

According to the conditional preliminary sale agreement an estimated worth of the transaction would be PLN 53 million.

Reinhold Center was delivered in mid-2010. It offers 8 635 sq. meters of office space. PKP Cargo occupies almost 6 000 sq. meters in the building.