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DWF advises Multikino on the sale of the plot with the oldest multiplex cinema in Warsaw

17 March 2023

DWF, the global provider of integrated legal and business services, advised the Polish cinema chain on the sale of the plot in Warsaw's Ursynów district, on which the oldest multiplex cinema in Warsaw is located, to Belgian developer GH Development 11.

On 8 March 2023 Multikino signed an agreement for the sale of the perpetual usufruct right to the plot of land at the junction of KEN Avenue and Indira Gandhi Street in Warsaw to buyer GH Development 11. According to the lease agreement signed on the date of sale, the Multikino Ursynów cinema will operate unchanged for at least 18 consecutive months.

DWF's advice to Multikino covered the full transactional scope, from the offering process and structuring of the transaction through to the negotiation of the preliminary sale agreement, the lease agreement and the final sale agreement, including tax support at each stage of the transaction.

The project was led by Małgorzata Lesiak-Ćwikowska, Local Partner in the Real Estate Department at DWF in Poland. The team involved included Patryk Hilla, Junior Associate and Michał Zaniecki, Junior Associate. Katarzyna Stec, Counsel in the Tax Department, advised on tax matters.

Multikino, owned by the Vue Entertainment International Limited Group, was the first operator to launch a multiplex cinema in Poland in 1998. Currently, 45 cinemas in 37 Polish cities operate under the brand. The British Vue Group is the operator of the largest private cinema chain in Europe, operating in 9 countries: UK, Ireland, Germany, Denmark, the Netherlands, Italy, Poland, Lithuania and Taiwan.

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