Located in the Nove Nivy zone, a core location in Bratislava’s new CBD, the building was completed at the end of 2018. Already 100% let, principally to Amazon, the 23 storey office tower with three underground floors, offers 34,752 sqm of high spec space including a roof top garden and panoramic views. The scheme also includes 1,360 sqm of retail and 456 car parking spaces.
Valesco originated the asset off-market and the transaction represents the first real estate investment backed by South Korean capital in Slovakia. The acquisition builds on Valesco’s and AIP’s substantial deployment of capital in the UK market in 2018 which saw circa £350 million of investment through the acquisitions of Cannon Bridge House in the City of London and the Microsoft HQ in Reading.
The Ashurst team was led by partner and global head of real estate capital markets David Jones, assisted by senior associates Jonathan Spencer, Francesca Downes and Stuart Blacklock. Partner Tim Gummer advised on tax matters, working with Kinstellar who advised on the Slovakian aspects of the transaction.
Shiraz Jiwa, founder and CEO of The Valesco Group, commented:
“This prime asset coupled with an exceptional principal tenant in Amazon in the growing core of Bratislava offers a unique and compelling investment opportunity. It has been a real pleasure partnering with Ashurst on our third major acquisition together. David Jones and his team provide us with a first rate and commercially-focussed approach that we value greatly."
David Jones added:
"We are delighted to have worked with Valesco and AIP on their debut investment in Slovakia and to continue our relationship with them across Europe. This is an interesting and exciting time for the CEE region which is witnessing a growing level of foreign direct investment."
