The amendments to the execution government decree of the Land Registry Act entered into force on 1 May 2022, which introduced a new definition of parking space. A parking space is an area serving for the placement of a motor vehicle created in the motor vehicle storage room of a building, one side of which is connected to the access road to the parking spaces and the other three sides of which are delimited by a permanent physical marking or wall on the floor of the room. The definition also specifies the size of the parking space. This is important, since as a result, a parking space in a car storage room of a condominium may be registered as an independent property in the land registry. This only requires a proof of existence of a car storage room in the building.
TGS Baltic Advises City Development on EUR 6.5 Million Sale of Real Estate to Estmak Capital
TGS Baltic has advised the City Development Company on its sale of four real estate properties in Riga to Estmak Capital group company Riga Properties 3.
JDP Advises SanoRice Group on Investment in Nowa Sol
JDP Drapala & Partners has advised the Dutch SanoRice Group on its investment in a new production plant in Nowa Sol, Poland.
Taylor Wessing Advises S+B on Via Una Project
Taylor Wessing has advised S+B Gruppe developer company S+B Plan & Bau Prag on the redevelopment of the Via Una office building in Prague.
Cobalt Advises Asuntosalkku on Nasdaq First North Growth Market Listing
Cobalt has advised Asuntosalkku on its listing to the Nasdaq First North Growth Market in Finland. Bird & Bird reportedly also advised Asuntosalkku.
Closing: Echo Investment’s EUR 56 Million Sale of Office Buildings in Lodz to KGAL Group Now Closed
On July 4, DLA Piper announced that Echo Investment’s EUR 56 million sale of three office buildings within its mixed-use Fuzja revitalization project in Lodz to German investment manager KGAL Group (reported by CEE Legal Matters on January 28, 2022) had closed.
Weinhold Legal Advises Jamp on Acquisition of Former Raiffeisen Headquarters in Prague
Weinhold Legal has advised the Jamp Group on the share deal acquisition of the 2747 Konevova Street building in Prague from Raiffeisen Stavebni Sporitelna. Havel & Partners reportedly advised the sellers.