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.
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