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The Warsaw Voice » Real Estate » February 6, 2008
The Real Estate Voice
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February 6, 2008   
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King Sturge Acquires Retail Company

King Sturge has acquired Leslie Furness & Co, a retail property specialist, in a move it hopes will strengthen its market position in fields such as shopping center space lease, investment, evaluation, development and management of commercial property.

King Sturge has seen the expansion of its shopping center leasing and professional business as a key strategic objective for some time.

It aims to continue to expand its team focusing on the core shopping center sector while expanding into mainland Europe.

Charles Miller, Head of UK In-Town Retail Markets at King Sturge, said, "We are delighted to have attracted a leading retail company which is a highly recognized and regarded operator in the retail sector, with close links to both retailers and property companies. By combining forces we will become a significant player within the sector with a proven track record on delivery of high profile projects."

Grand Hotel £ód¼ Changes Hands

Colliers International Poland real estate services company acted as an agent in the sale of the Grand Hotel in £ód¼ to Orbis Accor for 20 million euros. The buyer is a private investor that already owns boutique-type hotels in Poland.

The Grand Hotel is the most recognizable hotel in £ód¼, located in the heart of the tourist and business part of the city, on its main street.

The hotel has 161 rooms, three restaurants with more than 300 seats, a café and an amusement arcade. Three conference rooms are available, with a total area of 349 square meters. The hotel was originally built in neo-Renaissance style in 1888.

"We are delighted to have achieved this major transaction for Orbis," said Hadley Dean, managing partner at Colliers International Poland.

Alex Kloszewski, director of Colliers International Poland's Hotel Department, said, "The Grand Hotel is one of the great landmark hotels in Poland. We are very proud to have secured its future and to have got a fair deal for our clients."

Colliers International Poland's Hospitality Department has been operating for almost three years. The department has provided advice in a number of transactions, including a franchising agreement for the five-star Hilton Hotel in Gdañsk; a franchising agreement for the three-star Hilton Garden Inn Hotel in Rzeszów; preparation of a feasibility study for the Prudential building in Warsaw; and appraisal services for the Hyatt Regency Hotel in Warsaw.
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