Baker Tilly Legal Poland and TPA Poland advised Cloe Investments on the sale of investment properties in Gronowo Górne
The transaction concerned the sale of undeveloped properties located in Gronowo Górne, in the municipality of Elbląg, with a total area of nearly 9 hectares. The properties are situated in the immediate vicinity of the S22 expressway and close to its junction with the S7 route.
Under the local zoning plan, the land is designated for service development, including retail and wholesale facilities exceeding 2,000 m², conference centres – including hotels and gastronomy – as well as high-bay logistics facilities.
The scope of Baker Tilly Legal Poland’s advisory services included comprehensive legal support to the client in negotiating and executing the sale transaction, as well as advice on the transaction structure, settlement arrangements and cooperation between the investors.
The transaction on behalf of Baker Tilly Legal Poland was led by Piotr Łaska, Partner in the Real Estate team. Krzysztof Rubas, Counsel, advised on corporate law matters and settlements between the shareholders.
“Cloe Investments sp. z o.o., its shareholders and team were extremely happy with the professional, personal and proactive engagement of Piotr Łaska and the team at Baker Tilly Legal Poland throughout the process of concluding the successful sale of its property in Elbląg” – said Sean Flanagan, Chief Financial Advisor.
Tax advisory in connection with the transaction was provided by Joanna Prokurat, Partner at TPA Poland.
As part of the project, the Baker Tilly Legal Poland and TPA Poland teams also cooperated with legal and tax advisors to the Cloe Investments in Ireland and Luxembourg.
Cloe Investments sp. z o.o. is an investment company controlled by Irish investors and active on the Polish commercial real estate market. The company focuses on projects involving the development of investment land designated for retail, residential and logistics purposes. Lawyers at Baker Tilly Legal Poland have been advising Cloe Investments and its investors in Poland for over a decade. The described transaction forms part of the group’s current investment strategy.
