Linklaters advises UBM Development on the disposal of a new Holiday Inn hotel in Gdańsk
Congratulations to UBM Development and Union Investment Institutional Property on successful closing of another hotel deal in Poland.
Linklaters’ Warsaw Real Estate Team has advised UBM Development AG, the leading Austrian real estate investor and Europe’s larger hotel developer, on another successful transaction in Poland, this time concerning the disposal of a new Holiday Inn in Gdańsk to an institutional investment fund managed by the German Union Investment Real Estate GmbH. The new hotel has 240 rooms and has a premium location directly on the water’s edge at the tip of the historic Granary Island (Wyspa Spichrzów) in the old town of Gdańsk. The hotel is open for public since June 2019, and now the sale has been legally sealed.
In this prominent location, the building is visible from afar and is set to become an architectural icon. The hotel features a high-quality brick and aluminum façade, using modern architecture to blend in with the surrounding planning concept for the new Granary Island. This concept involves restoring and regenerating the island’s historic buildings while also adding new urban space to the site. In addition to its 240 rooms, the hotel has a sky bar and fitness rooms. There are also five conference rooms planned, covering 480 sq m of space, and 46 parking spaces in an underground car park. Gold LEED certification is in the process of being sought for the property.
UBM Development will continue to operate the hotel, and day-to-day management will be handled by the InterContinental Hotels Group (IHG) under the Holiday Inn brand.
Linklaters’ team advised UBM Development on all legal aspects of the transaction from the land purchase in the scope of a PPP project till successful sale. Linklaters’ Warsaw Real Estate legal team was led by Michał Mieciński (counsel, real estate) with the core team including Zuzanna Lipska (senior associate, real estate), Żaneta Rogoń (senior associate, real estate) and Patrycja Czarnecka (associate, real estate). Kacper Piórecki (associate, real estate) was involved at the land acquisition stage.