act legal Poland (BSWW) has consulted on Rank Progress’ purchase of nearly 8 hectares of investment land worth over PLN 27m net. On June 26, 2019, Progress XVIII sp. z o.o. – S.K.A., a subsidiary of Rank Progress S.A., entered into a preliminary agreement for acquisition of ownership title to a land lot of 7.9 ha with a view to developing a shopping mall.
The property is located in Otwock. The transaction value is PLN 27.6m.
The law firm’s team was led by Michał Wielhorski, Managing Partner. It was also made up of Katarzyna Marzec – Partner and Mateusz Prokopiuk – Senior Associate.
“Rank Progress runs a range of investment projects involving acquisition of land in promising locations in various towns and smaller cities for the purpose of retail developments intended for lease or sale,” says Michał Wielhorski. “This is yet another project of this kind, on which we advise our Client,” he adds.
Rank Progress is an investment and development company which has become a market leader when it comes to construction of retail spaces. It is listed on the Warsaw Stock Exchange.