Fortenova Group and the Agram Group have signed a contract for the sale / purchase of the property owned by Fortenova Group in the Cibona Business Tower in Zagreb. The property in question comprises office premises on 16 floors of the Tower as well as garage areas amounting to 6700 square meters overall. In accordance with the contract the sale-pruchase price is not being disclosed.
The Cibona Business Tower is one of Zagreb’s most representative office buildings. It is located in the center of the city, at a prestigious and easily accessible location, and since it was built as part of the sports hall complex for the purpose of the 1987 Universiade it has become one of the city’s most recognizable landmarks.
“After having largely completed the processes of divesting our non-core companies, the focus has been shifted to the sale of non core real estate. We are happy to have found, within a very short time, a partner who will, I am sure, provide the required investment into this well known building ” – said James Pearson, Fortenova Group’s Chief Financial Officer.
“The Cibona Tower is an iconic building of the City of Zagreb and a great fit in the real estate portfolio of the Agram Group. Having recognized this investment opportunity we continue to invest in the local economy, and this acquisition coincides with the 30th anniversary of the Agram Group’s successful operations” said Ivana Bratanić, M.Sc., Vice President of Agram Group.
For more than two years, Fortenova Group has been continuously conducting the process of disinvesting companies and real estate that are not in the function of its core business. Consequently, a decision was made to sell the office space owned by the Fortenova Group within Cibona Tower. The management of the process is entrusted to Colliers, global commercial real estate consultants.
Cibona Business Tower is one of the most representative business buildings in Zagreb. Fortenova Group is its majority owner with a share of 76.03 percent in which it has 5905.16 m² of office space, and with the addition of garage surface, the total area is 6,718 m². Overall, it is the total of 16 floors of modern office space in a prestigious and easily accessible location, in the city centre.
On this occasion, James Pearson, Fortenova Group’s Executive Director of Finance stated: “The Fortenova Group is recording excellent business results this year, with the realization of all key business projects and goals that were set. One of the most important components of our business is focus on the core activities and the disinvestment of parts of the business and assets that are not in their function. Since Fortenova Group no longer uses the office space of Cibona Tower for its own needs, we decided to sell it with the assistance of a specialized partner. “
The website http://nekretnine.fortenovagrupa.hr features almost 200 properties worth more than HRK 139 million
Fortenova Group has refreshed the offer at its specialized website for selling properties http://nekretnine.fortenovagrupa.hr to include more than 50 new properties located all across Croatia. The offer still includes various property types: residential, commercial, agricultural and building land. Those are non-core properties owned by Fortenova Group’s operating companies. Thus the overall portfolio offered on that website comprises almost 200 properties worth more than HRK 139 million in total. As a new feature, all properties offered have additionally been designated with special boards on site with the required contacts in order to make the divestment process as efficient as possible.
The website http://nekretnine.fortenovagrupa.hr features a detailed description of the condition of each property offered for sale as well as the terms of disposal, along with the initial price and instructions on how to submit bids for a specific property. In addition, it is possible to tour and view commercial facilities subject to prior notice. There is also a special telephone line under the number +385 99 531 4000, where additional information can be obtained. Binding bids for purchasing properties shall be received until 31st May 2020.
The bids are to be submitted in binding form and must contain the name of the natural person or firm name of the legal person, PIN/IIN (OIB), contact, proof of residence or registered seat of the bidder, designation of the property (property ID listed with each individual advertisement starting with „AGNE-____“) for which the bidder submits the bid in writing, the offered amount of the sale-purchase price in kuna that must be higher than the stated initial sale-purchase price, proof of security deposit payment, IBAN for possible security deposit repayment, statement of the bidder on acceptance of the terms and conditions of the sale-purchase agreement, signature of the bidder and a list of appendices submitted with the bid. The bidders should deliver the written bid in a closed envelope to the address: FORTENOVA GRUPA d.d., Marijana Čavića 1, 10 000 Zagreb, with the remark – „Bid for the purchase of the property – ID No. AGNE-______, Asset Management Department of the Group“. All details regarding the conditions of sale can also be found at the following link: http://nekretnine.fortenovagrupa.hr/hr/uvjeti/.
The list of properties offered for sale shall continue to be updated regularly and the website will soon be supplemented to include new content and new properties.
In July this year Fortenova Group launched a special website http://nekretnine.fortenovagrupa.hr in Croatian and English with a large offer of non-core properties owned by the Group’s operating companies. This week the list of properties offered on the website has been extended by a number of new properties located all across Croatia. Along with numerous commercial properties and agricultural land listed on the website, there are now also residential properties such as attractive apartments in Mikulići and Bukovačka cesta in Zagreb, an apartment in Samobor, attractive building land located at Zagreb’s Šalata (between Voćarska and Jurkovićeva streets) in the total area of 3255m2, land for investment buildings in the industrial zone of Kukuljanovo (Rijeka) in the total area of 31274m2, the former mill building in the center of Križevci, the former pig breeding farm Sremac in Rokovci (Vinkovci) as well as other business premises and land for investment construction, agricultural purposes and other.
For each property offered for sale the website http://nekretnine.fortenovagrupa.hr features a detailed description of its condition and terms of sale together with the upset price, as well as instructions on how to make a bid for a specific property. In addition, for commercial facilities the open house date and time when the facility can be visited and viewed is defined in advance. Binding bids for the purchase of properties can be submitted by 20 December 2019.
The submitted bids have to be binding and contain the name of the natural person or company – legal person, their PIN (OIB), contact, proof of residence or registered seat of the bidder, the designation of the property (ID of the property that can be found with each advertisement, starting with the designation „AGNE-____“) for which the bidder submits a written bid, the offered amount of the purchase price in kuna which has to be higher than the stated upset price, proof of payment of the security deposit, IBAN for the possible repayment of the security deposit, the statement of the bidder on accepting the terms and conditions of the sale-purchase agreement, the signature of the bidder and the list of appendices enclosed to the bid. The bidders should deliver their written bid in a closed envelope to the address: FORTENOVA GRUPA d.d., Marijana Čavića 1, 10000 Zagreb, with the designation – „Bid for purchase of property – ID No. AGNE-_______, Group Real Estate Management Division“. All details related to the terms and conditions of sale can also be found at the following link: http://nekretnine.fortenovagrupa.hr/en/terms-and-conditions/.
Since launching the website of Fortenova Group properties for sale more than 1.2 million clicks and views have been recorded. In the period since the properties have been offered for sale potential buyers have shown keen interest and tours and viewings of commercial locations have already been realized. The list of properties for sale shall continue to be updated on a regular basis and the website will soon be supplemented with new content and new properties.