PKP earns over PLN 200 mln selling real estate
Investment & financeschedule 19 February 2016
Tomasz Szpyt-Grzegórski
POLAND The Polish State Railways (PKP) has announced that in 2015 the company carried out 22 projects.
Passengers can now use the new Bydgoszcz Główna station, built with the support of EU funding, and a new station in Sopot, built thanks to a public and private partnership, among other facilities. Last year also saw the completion of the pilot project for the construction of innovative system stations (IDS). “Stations in Mława, Nasielsk, Strzelce Krajeńskie Wschód and Ciechanów have new facilities with numerous green solutions, adapted to the needs of the disabled. The cost of the construction of a system station is considerably lower than that of standard modernisation. The operating costs of such a facility are also lower,” says Jarosław Kołodziejczyk, member of board of directors of PKP. “We are considering further locations for innovative system stations,” he adds. Apart from big modernisation projects, PKP is doing aesthetic improvement work on railway stations in Poland in Dęblin, Łódź Chojny, Nidzica, Rybnik Paruszowiec, Sochaczew and Solec Kujawski, among others. The total cost of the work completed in 2015 amounted to PLN 12.9 mln. In cooperation with Xcity Investment and external partners, PKP is also implementing development projects. At present seven projects are being developed, talks are taking place over three others and moves to select investors have been started for 15 more projects. According to PKP, in 2015 the premium category space in 16 stations was 85 pct leased, out of which the lease rate in the seven biggest stations amounted to 94 pct. Moreover, last year local authorities took over 51 stations and over 240 km of railway track from the company. The taken-over property can be re-developed and used by local councils for tourism, sport, educational or cultural purposes, among others. The municipalities of Jeleśnia and Żory took such an approach last year. Former railway lines are often turned into tourist routes or cycle paths. PKP has also been selling real estate, generating PLN 226 mln to the company last year. The biggest transactions include the sale of real estate on ul. Kiejstuta in Warsaw (plots were bought by Home Invest Group for app. PLN 40 mln), near Rondo Mogilskie in Kraków and on ul. Dworcowa in Katowice,, among other sales. Some of the funds received from the real estate sales is to be used to finance the modernisation of rail stations. PKP also sold three recreational properties – in Piwniczna Zdrój, Sieraków and Prądocin.
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