Develia has entered into a preliminary agreement to sell a property on Kolejowa Street in Wrocław to a subsidiary of AFI Europe, an international investor specializing in office, retail, and residential projects across Central and Eastern Europe. The agreed sale price for the nearly 5,500-square-meter land is PLN 50.5 million, with the transaction expected to be finalized by the end of 2024.
The property at 8 and 10 Kolejowa Street, which Develia had planned to develop into an office and hotel building with retail and service areas, represents a key asset in Wrocław’s city center. The sale aligns with Develia’s strategy for 2024-2028, which focuses on divesting commercial assets to reinvest in the residential segment, the company’s strategic priority.
“This preliminary agreement marks an important step in achieving our strategic goals. We are pleased with the terms of the transaction and confident that this centrally located plot will be developed by an experienced investor with a robust portfolio,” stated Andrzej Oślizło, President of Develia.
The finalization of the sale is contingent upon the Wrocław Municipality not exercising its pre-emptive right to the property. AFI Europe, part of the larger AFI Properties group, brings a strong background in managing a diverse range of projects in the region.
