Ben Habib: There is Brighter Weather Ahead in Poland for Property Investor After the Covid Story
“The country continues to tick all the boxes; a virile economy, prudent spending, and sensible management of the COVID-19 crisis have maintained my faith in this economy, which I started to invest in back in 2005,” he writes.
“And amazingly, they are already able to start easing the crippling lockdown restrictions imposed across the continent, beginning last week. This is critical, as those countries which emerge earliest and with good balance sheets will do the best.”
Investors Chronicle: ‘First Property is a shrewd operator’
He adds: “Effectively, you are getting a free ride on these investments and a fund management business that manages £602m of third-party assets even though the company has a track record of outperformance, delivering an IRR of 25 per cent (including dividends) since 2006.”
Simon Thompson: Stock picking value open to future gains https://t.co/MaKbWKZ26N
— Investors Chronicle (@IChronicle) May 4, 2020
Press Release: Warsaw’s CH8 Tower sells for €44 million (£38 million): First Property Group PLC completes transformational sale as Polish market bucks negative trends
Chief Executive Ben Habib argues the deal reflects the strength of Poland’s economy as commercial property transactions hit record rates ahead of coronavirus crisis. The sale nets Group their largest ever cash windfall of £16.7 million (€19.6 million), substantially increasing their future purchasing power into the hundreds of millions.