Project: Cushman & Wakefield was exclusively appointed as a sales agent by the owner of the portfolio by way of sale of the Dutch SPV. Management of office buildings.
Client: Gooioord B.V. on behalf of Unibail Rodamco and private Dutch investors
Location: Kyiv, Ukraine
GLA: 14,000 sq. m
Major tenants: Procter and Gamble, Kraft Foods, Philip Morris, KPMG, Air France-KLM, Panasonic, Nokia, Canon, US Peace Corps and the embassies of Belgium, Sweden, Switzerland and Argentina
Since 1994, Cushman & Wakefield (formerly operating as DTZ in Ukraine) has worked with the Dutch developer Gooioord B.V. when choosing, renovating and reconstructing the buildings, acted as the exclusive leasing agent, and also managed the portfolio until its sale in 2008.
The total area of office space was about 14 thousand square meters including buildings on 11 Mykhailivska street, 48B and 52 Bogdana Khmelnitskogo street, Leontovycha street, 29, 31, 34/33 and 36 Ivana Franka street as well as office space in buildings 25, 38 and 40 on Ivana Franka street.
Services provided by Cushman & Wakefield (formerly operating as DTZ in Ukraine):
- Assembly of individual assets to form central office portfolio of 8 office buildings totaling to around 14,000 sq m (1996-1999).
- Development consultancy advice on delivery conditions, legal structures, space planning, occupier targeting and asset management approach (1996-1999).
- Full property and facilities management including tenant management and rent / service charge invoicing, collection and reporting, full local tax reporting, servicing and maintenance, capital repairs and improvements and asset management including disposal of non-core assets (1997-2008).
- Exclusive leasing agents to the portfolio, achieving tenant list of leading international organizations and diplomatic missions including amongst others: Procter and Gamble, Kraft Foods, Philip Morris, KPMG, Air France-KLM, Panasonic, Nokia, Canon, US Peace Corps and the embassies of Belgium, Sweden, Switzerland and Argentina (1998-2008).
- Investment sale of portfolio: recognising a clear overheating of the office property market in Kyiv with escalating rents, falling yields and 100% occupancy, we advised our client to dispose of this portfolio and optimize exit value. Sale of the Dutch SPV company was achieved by DTZ as exclusive selling agents at the peak of the market ahead of the economic downturn (2008).