No. 12/2024 - CeMat A/S acquires right of perpetual usufruct to land plot in Bielany, Warsaw
10 October 2024 - 12:13AM
UK Regulatory
No. 12/2024 - CeMat A/S acquires right of perpetual usufruct to
land plot in Bielany, Warsaw
Nasdaq
Copenhagen
Nikolaj Plads 6
DK-1067 Copenhagen K
Copenhagen, 9 October 2024
ANNOUNCEMENT no. 12/2024
CeMat A/S acquires right of perpetual
usufruct to land plot in Bielany, Warsaw
CeMat A/S is pleased to announce that it has
obtained a binding decision confirming its acquisition by law of
the right of perpetual usufruct (RPU) to 75% of the shares in an
undeveloped plot of land on Wólczyńska Street, in the Bielany
district of Warsaw. The decision relates to a land plot covering a
total area of 6,720 sqm, and grants the company the right of
perpetual usufruct until 2089. This binding decision provides the
legal basis for registering the RPU in the land and mortgage
register.
The acquired plot is currently being used by the
company for internal roads, which are a key component of the street
layout within the property complex, contributing both to the
company's current rental operations and future investment plans for
CeMat in Warsaw's Bielany district. The road provides access to a
public road for all plots earmarked for future development within
the Bielany complex. The Bielany complex covers a total area of
159,300 sqm.
The final value of the acquired property will be
determined following an independent valuation process.
Obtaining legal title to the plot marks a
significant milestone in fulfilling CeMat's goals for 2024, as well
as its long-term strategy. As part of the Group's strategy, this
acquisition represents the first step in the value creation chain,
which includes securing legal title, receiving re-zoning decisions,
obtaining building permits, and commencing the pre-sale and
construction phases.
The newly issued decision is an important factor
that will facilitate the development process. In addition to
the zoning decision, the road connection is one of the elements
required to obtain a building permit in the future. This additional
road will improve the site's utility connections and increase the
overall attractiveness and value of the Bielany complex.
Cemat A/S
Frede Clausen
Chairman
This announcement has been prepared in a Danish-language and an
English-language
version. In case of doubt, the Danish version
prevails.
- Announcement no. 12 - 09.10.2024 - Perpetuel use of right
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