ARTICLES LABELLED WITH TAG DIY

KS Holding, a Kesko Group company, has completed the sale of Kesko-Senukai stores in Vilnius and Daugavpils to the Finnish Special Mutual Fund Titanium Baltic Real Estate. Together with the sale of Riga’s Ozols Centrs, acquired by Titanium in November, KS Holding has brought retail assets valued at €60 million to the market. Returns to shareholders in the recent transactions for the money invested exceed 20% per annum.

Net lease real estate investment trust W.P. Carey has added seven DIY retail stores in Poland to its portfolio. The NYSE-listed company has bought the newly built assets totalling 70,000 sqm from private real estate firm Supernova Group for an undisclosed sum. The stores are triple-net leased to OBI for a term of 15 years with Eurozone CPI-based rent increases.

Pavăl Holding, the group controlled by the founders of DIY chain Dedeman, will have a new HQ in Bucharest. The holding is revamping Vila Hlebnikian that will serve as its main office. Construction works on the 2,800 sqm building will be completed by 2023, according to Profit.ro.   

Furniture retailer Jysk will begin building a new distribution centre in Ecser, Hungary in April. When in operation, the €200 million distribution centre will employ around 300 people and further strengthen the company’s logistics setup in Europe, the company announced.

Metro Properties, the real estate subsidiary of Metro AG, has sold a property in Poznań with a retail building under a long-term lease to Castorama to French investor Corum Asset Management. The purchase price amounted to €20.3 million.

British group Kingfisher PLC, a European DIY chain present in Romania through the Brico Depot brand, acquired Praktiker Romania, which currently operates 26 units and is one of the largest DIY retailers in the country. PeliFilip assisted Kingfisher PLC.