Alta, formerly known as TUP, has signed a conditional agreement to sale the right of perpetual usufruct of two plots located in the south of Katowice. Murapol is the buyer.
The subjected plots are located on Bażantów St. The first parcel of land covers the total area of 2,24 ha and was previously destined for the development of Forest Hill, a housing estate planned by TUP. The second plot (1,13 ha) was intended for the construction of the „Bażanty” shopping center.
The agreement is conditional as the right of first option to purchase the land is held by the City of Katowice, according to the real estate management act. Non-fulfillment of the suspensive condition will give the right to conclude the transaction between Alta and Murapol. Net sales price amounts to PLN 9 million.
In compliance with the City spatial development plan, the Forest Hill plot can be used for the development of a housing project. Additionally, a building permit for the 3 300 sq. meters retail building was already issued for the „Bażanty” plot.
If successfully concluded, this would be another transaction to be finalized between Alta and Murapol. The developer is now conducting construction works on a housing estate called Murapol Bażantów and localized within the same area on Bażantów St. The Alta’s construction plot was acquired by Murapol in December 2012. The company paid net PLN 8 million for the 2,8 ha property.