PHN to acquire Alchemia II

A subsidiary of WSE-listed Polski Holding Nieruchomości (PHN) has signed a contract with real estate developer Torus to acquire perpetual usufruct rights for land located in Gdańsk, by Aleja Grunwaldzka and property rights for the Alchemia II building, the second phase of Alchemia office scheme, the media reported. As of 17 November, the value of the contract stands at some €60.8 million, which translates roughly to PLN 258 million. The subsidiary of PHN said it would acquire external funding in order to pay for the rights. The transaction is to be completed by September 30, 2016. Alchemia II is to feature nearly 21,000 sqm of modern office space. Construction work launched in December 2013. Alchemia is a Class A office complex located in Gdańsk, which will ultimately consist of four towers interconnected by a 4-storey base. Alchemia will be delivered in four phases, the first of which was the subject of the transaction.