Vastint closes its first purchase of land in Katowice

Vastint Poland has signed a preliminary agreement for the purchase of a plot of more than 9 000 sq. meters 2 Piotra Skargi St., where the Silesia Hotel is situated.

The 11-storey building was built in 1971 and has been deserted since 2006. The developer is planning to demolish the existing facility and to develop a complex of modern office and hotel buildings. The property is now owned by a local businessman.

„At the moment we have agreed on the prerequisites of the purchase with the private owner of the plot. We expect the transaction to be closed by the end of 2017. This is Vastint’s first acquisition Katowice, but I believe that there will be more transactions. We are interested in purchasing more land in the city, and further strengthen our position in the local market” – says Roger Andersson, managing director of Vastint Poland.

The developer hopes to start construction in 2018.

The goal of Vastint is to create long-term value through property investments and is present on several markets across Europe since 1989. The company focuses on the management of portfolio properties and the development of commercial real estate, including residential development and sales. Up until May 2016, Vastint was part of the Inter IKEA Group of companies.

Silesia Hotel