Old military barracks in the city centre of Poznań, Poland
Revive and BPI Real Estate are joining forces to realise one of the largest real estate transactions in Poland. Together, we will acquire an old military barracks in the centre of the Polish metropolis of Poznań. On the 5.5-hectare site, we will be building a mixed-use project with more than 1,000 flats, offices, commercial spaces and spaces for services in the coming years.
Revive and BPI Real Estate are entering into a joint venture to realise one of the largest real estate transactions in Poland. As part of this project, we are each contributing 50% of the total amount of EUR 26 million for the site of an old abandoned military barracks in Poznań, right next to the city’s central station. The site currently serves as a large car park and is therefore being redeveloped into a completely new urban project with more than 1,000 residential units.
"The project completely reflects our corporate mission: to give rundown, underused city locations a new life. In Belgium, we have gradually become the expert in such reconversion projects, which are usually polluted brownfields, which we first clean up. And it is precisely this expertise that we now want to bring to Poland, because there is still enormous potential there. In Polish cities, there are still many sites that are abandoned, despite being in a strategically strong location. Moreover, we have not yet begun our test piece in Poland. Because Revive is also redeveloping the Imperial Shipyard in Gdansk, accounting for approximately 3,500 residential units." Alexandre Huyghe - CEO Revive
Living and working
Besides these flats, we are also developing some 24,000 square metres of offices and commercial spaces there. The site also includes several buildings of historic value, which are being renovated. Such mixed-use projects where living and working are interwoven in one project are rare in Poland. While this type of urban development is already well established in Belgium today. The concept therefore fits well with the Belgian buyers.
"Which is why, in cooperation with the city of Poznań, we also want to introduce this philosophy of development to Poland. It is a major challenge, but with our experience in urban redevelopment projects and with the help of our partner, it will undoubtedly be a success, and one in which we will place innovation and sustainable development centre stage. Obviously, this will be an important year for BPI in Poland. This is because the project in Poznań is our largest investment ever in the Central European country and fits in perfectly with the strategy we want to pursue. We plan to make further investments in Poland in the coming years, in which Poznań will play a major role. This is a city with enormous potential and one of the fastest growing real estate markets in Poland. The standard of living there is very good, partly due to the high level of education and healthcare." Jacques Lefèvre - CEO BPI Real Estate Belgium
The notarial deed was signed on the 29 September.
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Just a little more patience...
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