Peakside Capital Advisors has completed the sale of eight hectares of land, including the Plaza Gallery building, to developer STRABAG Real Estate. JLL advisors supported the vendor in this process.
The transaction between Peakside Capital Advisors and STRABAG Real Estate concerned an eight-hectare site in Kraków's Dąbie district. The plot includes the former Plaza shopping centre building along with green areas and a pond. This location is within easy reach of the city center, and guarantees great investment potential as well as excellent exposure.
The site is located at the intersection of Pokoju Avenue and Stanisław Lem Street – Kraków’s main arterial routes. Furthermore, trams and bus stops are located nearby, with the city center, the Old Town, and the Main Railway Station only 15 minutes away. The plot is surrounded by commercial and service buildings, residential buildings, and hotels. An additional advantage is the plot’s close proximity to green areas such as the Polish Aviators' Park and the green boulevards on the Vistula River.
The new owner, STRABAG Real Estate, has announced its intention to demolish the shopping mall and construct new buildings in its place. The plot in Dąbie is an ideal location for a mixed-use investment that will complement the surrounding infrastructure and foster the development of the district in line with the 15-minute city concept.
Year by year it becomes more and more difficult to find an attractive plot of land for development in Kraków, especially if the investor is looking for a plot of such significant size. The property sold by our client is covered by the local masterplan allowing for the development of commercial services. This gives the purchaser a wide range of possibilities as to the choice of the development project. Additionally, an exceptionally good location makes it an ideal place for a multi-functional complex including apartments for rent, commercial and service premises, and offices. Opportunities to acquire such attractive land are rare on the market. We are glad that we could support Peakside Capital Advisors in this unique transaction.