Property highlights
The CeMat Group’s real estate portfolio comprises a diversified set of investment and development assets, including land plots predominantly located in Warsaw’s Bielany district. The building portfolio consists of warehouse, production, office and ancillary facilities. The existing buildings, largely developed in the 1980s, provide a solid foundation for value-add strategies, including new developments, active asset management and functional redevelopment. The assets are located approximately 8 km from Warsaw’s central business district (CBD), in an area with excellent transport links, including an extensive public transport network (metro, tram and bus lines) as well as a well-developed road system, ensuring fast and direct connections to the city centre and wider Warsaw metropolitan area.
The property complex offers over 31,314 sqm of leasable space and encompasses more than 153,600 sqm of land. Combined with the attractive location, the scale of planned developments and the dynamic growth of the Bielany district, the portfolio presents significant opportunities to increase net operating income and develop plots for residential and commercial projects, including self-storage, office space, and other serviceoriented facilities.
We believe that the combination of a strong local market, excellent connectivity and ongoing regional development makes the CeMat Group’s assets a promising investment opportunity.
The CeMat Group has control of the land through the perpetual usufruct right, ownership rights and the right of possession to the site. Part of the property holds the status of right of possession and is therefore not entered in the land and mortgage register.
The CeMat Group has the perpetual usufruct right to circa 58% of the property, the ownership right to circa 1% of the property and the right of possession to 41% of the Warsaw property.
A necessary pre-condition for treating a plot of land as an investment product is having control of the land through the perpetual usufruct right or ownership right.
The potential investment value is represented by about 90% of the CeMat Group plots located inside the current industrial complex. The other 10% of the joint plot area located outside the complex are green areas and, according to the study of the spatial plan of Warsaw, designated for an expressway and the North Bridge route.
The nature and status of the land in Bielany, Warsaw, the number of plots controlled by the CeMat Group and the different legal situation of the individual properties require that an individual approach should be adopted for each and every property. In the understanding of the company’s Management, such an approach can maximise the potential value of the individual properties, thus increasing the company’s value.
The total area of re-zoned plots is 20,422 sqm (12.8%), out of a total area of 159,300 sqm, as at 31 December 2024.
Other opportunities
CeMat ’70 and the Institute of Technology are in dispute about the ownership of a 5,000 sqm plot of land near Warsaw’s international airport. The result of the case is highly uncertain. As at the date of writing this report, this represents a book value of zero due to the lack of legal title and the uncertain resolution of the dispute.
CeMat’70 is the owner of a 13,602 sqm residential plot in Blichowo, located outside Warsaw. The fair value of the land is DKK 0.14 million.