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The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.
26 April 2019
Globalworth Real Estate Investments Limited
("Globalworth" or the "Company")
Acquisitions in Poland
Globalworth, the leading office investor in Central and Eastern Europe, is pleased to announce the conditional agreement for the acquisition of two investments in Poland, which were identified as part of its acquisition pipeline announced on 11 March 2019, for a combined transaction value of €113.2 million. The transaction is expected to close by the end of July 2019, subject to the fulfilment of customary conditions.
Retro Office House, a newly completed office development located in central Wroclaw benefitting from excellent connectivity to all parts of the city and a range of public transport options, is to be acquired for €58.8 million. The building offers a gross leasable area of 21.9k sqm, an annualised contracted rent of €3.9 million and is 100% leased to a variety of tenants, including Infor and Olympus, with a WALL of 5.0 years.
Silesia Star, an office complex with two interconnecting buildings developed in 2014 and 2016 at the heart of Katowice, is to be acquired for €54.4 million. Located in the immediate vicinity of the city centre, it is close to two universities and various transport options. The building offers a gross leasable area of 29.2k sqm and an annualised contracted rent of €4.6 million at 95% occupancy, which rises to €4.8 million as a result of a vendor guarantee on the existing vacant space. It is leased to a variety of tenants in the finance, technology and services sectors, with a WALL of 3.6 years.
Dimitris Raptis, Deputy CEO and Chief Investment Officer of Globalworth, commented: " We are delighted to be able to announce these new acquisitions, which follow on from our very successful €500 million capital raise earlier this month. These investments reinforce our position in both Wroclaw and Katowice, and represent very desirable, well-located properties in these important regional Polish cities. We have announced over €280 million of investments in Poland this year, consolidating our position as the most active investor in the Polish office market".
For further information visit www.globalworth.com or contact:
Enquiries
Andrew Cox Tel: +44 20 3026 4027
Head of Investor Relations & Corporate Development
Jefferies (Joint Broker) Tel: +44 20 7029 8000
Stuart Klein
Panmure Gordon (Nominated Adviser and Joint Broker) Tel: +44 20 7886 2500
Alina Vaskina/Justin Gulston
Milbourne (Public Relations) Tel: +44 7903 802545
Tim Draper
About Globalworth / Note to Editors:
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland, where the Company has a 99% shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by nearly 200 professionals across Romania and Poland, the combined value of its portfolio is over €2.5 billion, as at 31 December 2018 and proforma for subsequent acquisitions. Over 90% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 650 national and multinational corporates. In Romania, Globalworth is present in Bucharest, Timisoara and Pitesti, while in Poland its assets span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. For more information, please visit www.globalworth.com and follow us on Facebook, Instagram and LinkedIn.
IMPORTANT NOTICE: This announcement has been prepared for the purposes of complying with the applicable laws and regulations of the United Kingdom and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the United Kingdom. This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "targets", "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts and involve predictions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company's business, results of operations, financial position, liquidity, prospects, growth or strategies and the industry in which it operates. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. Save as required by law or regulation, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.