Von der Heyden Group Finance Plc´s guarantor TIMAN Investments Holdings reports its audited and consolidated Financial Statements for the period ended 31st December 2018 with a profit after tax of EUR 13,128,910.

Timan Investments Holdings Limited (the Group – consolidated), presented consolidated and audited annual accounts for the financial year ended 31st December 2018, reporting a record profit after tax of EUR 13,128,910 (2017: related loss €1,025,181).

The profit for Timan Investment Holdings Limited (the Company – stand-alone) for the year after tax amounted to EUR 14,225,162 (2017: EUR 1,995,190. Timan Investment Holdings Limited (the Company) holds for capital growth and income generation, investments in 35 subsidiaries and associated companies around Europe.

The Group reported a net shareholders  Equity of EUR 44,908,978 (2017 EUR 35,381,712) with a percentage increase of 26.9%.

During this financial year, the Group’s results have been positively impacted by the financial results of Bogenhausener Tor Immobilien Sàrl (BTI), an associated undertaking which is the developer of Munich’s largest development project, Bavaria Towers. Situated in the Bogenhausen district on the eastern edge of Munich, the Bavaria Towers project has reached substantial completion, creating a stunning new gateway to the city and consisting of four high-rise towers with circa 78,000 sqm of total gross rental area and two central underground car parks with almost 1000 spaces. Furthermore, the Blue Tower, an 18 Level building with office rental area of some 24,500 sqm which is co-owned by the group has successfully pre-leased over 90% of the available rental space with negotiation on the limited available space in advanced negotiations with potential tenants. The share of profits generated from BTI as a result of property revaluation for the year ended 31 December 2018 amounted to €17,867,487.

The Group registered an increase in turnover of €4.5 million. This is 23.2% increase over the previous financial year, was mainly generated from its subsidiary hospitality group IBB Hotel Collection, consisting of 13 hotels around Europe. During 2018, the hotel chain proceeded with its expansion plans: Recently opened, historical IBB Hotel Dlugi Targ in Gdansk is recording a successful return on investment, whilst IBB Hotel Paderborn and IBB Hotel Ingelheim in Germany and Cugó Gran Macina Grand Harbour in Malta had their first full year of operations. Furthermore, IBB Hotel Collection has invested in a new four-star hotel in Eichstätt – a baroque episcopal and university town in the heart of Bavaria, Germany. This stylish, modern and luxury hotel located within the city’s new quarter “Spitalstadt” will host 90 rooms with plans to open in spring of 2020.

     

In line with the Group’s continued expansion and its investment in Human resources and improvements in operating procedures, it experienced an increase in cost of sales, staff costs and operating expenses of EUR 4.3 million.

In March 2017, the Group through its special purpose vehicle Von der Heyden Group Finance plc has issued a €25,000,000 bond which is listed on the Malta Stock Exchange. It was the most traded bond in terms of number of transactions during the year 2018. The bonds were issued to support the group to finance its future projects whilst at the same time enabling the Group to seize new opportunities that may arise in the market.

‘This year marks the Von der Heyden Group’s 30th anniversary in Europe. These record results are testament to three decades of many landmark projects and transactions which have led us to where we are today. We are very proud  to have a team of over 400 people who contribute at all levels to the continuing success of our Group in our real estate investments and developments, our hotel group IBB Hotel Collection as well as in our alternative investments’

Sven von der Heyden
Chairman
Von der Heyden Group

TIH Press Release VDHG FY18 Results 16 05 2019

Hammett’s Macina Restaurant at Cugó Gran Macina Grand Harbour Hotel Named ‘Luxury Heritage Restaurant’ in Europe at 2019 World Luxury Restaurant Awards

 

Hammett’s Maċina Restaurant located within the walls of the Sheer Bastion fortress in Senglea, Malta – home to luxury boutique hotel, Cugó Gran Maċina Grand Harbour – has been named ‘Luxury Heritage Restaurant’ in Europe at the 2019 World Luxury Restaurant Awards.

The 4th annual World Luxury Restaurant Awards ceremony was held at The State Hermitage Museum Official Hotel in St. Petersburg, Russia on the 5th July with representation from over 90 countries. The World Restaurant Awards recognize establishments for world-class service excellence. Awards are presented on a country, regional, continental and global basis. Winners are selected by public vote online, providing true recognition that reflects the hard work and dedication exhibited by staff.

Unimaginable history seeps from the Maċina’s ancient walls. Built almost half a millennium ago by the Knights of Saint John, the Maċina has been a landmark for centuries and now hosts Hammett’s Maċina Restaurant. The gastronomical concept is a take on the islands’ succession of powers with a modern representation of traditional Mediterranean culinary influences that date back to the Phoenician times, and using the finest local, seasonal produce.  The Kitchen brigade is led by Chef de Cuisine, Francisco Carrasco, and directed by the Maltese multi award-winning Chef and restaurateur Chris Hammett.

“We are delighted to receive such a prestigious award for our youngest brand at Hammett’s Collection”, Says Chris Hammett. “Winning the ‘Luxury Heritage Restaurant’ award is testament to team’s hard work in achieving both our cultural and gastronomic goals for a unique concept that draws from the islands’ culinary history”.

“We are so delighted for Chris, Francisco and the team,’ says Sarolta Mike, Hotel Manager of Cugó Gran Maċina Grand Harbour. “Hammett’s Maċina Restaurant has really helped us put Senglea on the map, certainly amongst our international guests.  It is immensely popular of course also amongst the locals!  We feel very fortunate indeed to have so much culinary talent and flair going on within our hotel walls!”

Hammett’s Maċina Restaurant launched in February 2018 following the opening of the 21-suite Cugó Gran Maċina Grand Harbour hotel and the meticulous renovation of the Maċina; the Sheer Bastion structure which was originally built in 1554 during the reign of Grand Master Claude de la Sengle.  Maltese architect Edwin Mintoff created the hotel’s luxurious minimalist design whilst preserving original historic features to blend natural and traditional materials with modern, clean lines. In June, Edwin Mintoff Architects was awarded the European Prix Versailles World Architecture & Design Award in the ‘Exterior Hotel Design’ category.

Both Cugó Gran Maċina Grand Harbour and Hammett’s Maċina Restaurant are under the management of IBB Hotel Collection. IBB currently operates 15 hotels across Europe and is part of the Von der Heyden Group which has over 30 years of expertise in leisure and real estate.

Rates at Cugó Gran Maċina Grand Harbour, a member of Design Hotels™, start from €159 per night room only.

Von der Heyden Group celebrates its 30th Anniversary in Munich

The Von der Heyden Group announced its 30th Anniversary as a leading international investment firm in the European Real Estate market recording impending acquisitions, developments and offices in over 10 strategic locations (*) around Europe. The group was founded in 1989 as a financial advisory firm in Munich, Germany and quickly grew into a real estate investment and development firm with its first projects in Dresden and Berlin later followed by Warsaw. Since its inception, the Von der Heyden Group has today recorded an investment program, impending acquisitions and developments with a value of over half a billion euro.  The group is renowned for configuring a high return on its investments, its high-end finishes in its developments and for achieving record prices for its award winning projects when sold. The Von der Heyden Group conducts four pillars of business with an international team of over 400 people; including real estate investments and real estate developments, its hotel group IBB Hotel Collection as well as alternative investments. The investment firm has this year announced multi-million investments of its own funds and that of third parties in Ukraine, marking its expansion into a 5th market beyond Germany, Poland, Spain and Malta in light of strengthening Ukraine’s economic growth and development. The group, with extensive experience of being a first mover in upcoming markets, plans to invest between 50-100 million US dollars in amongst others Kiev and Lviv. Von der Heyden Group Chairman, Sven von der Heyden: It is with great pleasure to celebrate the Von der Heyden Group’s 30th anniversary in Munich where it all started for the group back in 1989. 2019 marks three decades of trust in Europe with exceptional growth and landmark projects which have led us where we are today. Results have shown that our vision can be turned into reality, with a goal of growing our net asset value to over EUR 100m within the next 5 years. The Von der Heyden group celebrated its 30th Anniversary with a reception at the BMW Welt in Munich. Bob Rottinghuis, the Von der Heyden Group’s Chief Executive Officer presented an authentic piece of the Berlin Wall to Chairman Mr. Sven von der Heyden to mark the group’s 30 years of trust in Europe and synonymously, to commemorate the fall of the Berlin wall, a monumental time in history in 1989 when the group was founded. VDHG 30th Anniversary Press Release ENG

Von der Heyden Group opens New Offices in Ukraine for multi-million euro Real Estate investments in Kyiv and Lviv

Von der Heyden Group, an international investment firm on the European Real Estate market with a value of over half a billion euro in aggregated invested assets, has opened new offices in Kyiv in Q4 2019 to establish multi-million euro investments in Ukraine. The Group is renowned for being a first mover in emerging markets, creating landmark Class A office buildings, running award winning hotels and delivering superior returns from real estate investment.

The Group, founded in Germany in 1989, will invest around €50 million in commercial and residential properties in Kyiv and Lviv during its preliminary phase, aiming to increase this to up to fourfold in its mid-term portfolio expansion in a favourable market.

“Ukraine’s market is rapidly maturing, as the country continues to strengthen its institutional framework and align its economy with that of the European Union. For these and other positive reasons it tops the Von der Heyden list in offering the right investment opportunities. As we have done in Poland, our Group intends to make a lasting mark in Ukraine by being one of the first international real estate investors.”Robert Rottinghuis; Chief Executive Officer, Von der Heyden Group

The new offices in Ukraine marks the Group’s further expansion as an international private investment and real estate firm with representative offices in eight countries.

The Von der Heyden Group has appointed a local expert team, formed to expand the Group’s real estate portfolio led by Mr. Dmitry Havrylenko who assumes the role of Chief Executive Officer in Ukraine. Mr. Havrylenko until recently held the postion of National Director and head of the Ukrainian office of global investment management firm, Jones Lang LaSalle (JLL) and has been a valued counsellor to a number of  leading professional services and investment firms. Having attracted more than USD 1 bln for Ukrainian companies, the Group’s Ukraine office CEO comes with over 15 years of experience in investment banking, private equity and real estate investments.

Tatyana Yarmolitskaya, a real estate professional with over 15 years of experience in real estate finance, investments and asset management joins the Von der Heyden Group as Investment Director. Until recently Ms. Yarmolitskaya held the role of Head of Capital Markets at the Kyiv office of Jones Lang LaSalle (JLL).

Daniel Parsai, a lawyer by background with specialization in local and international taxation also joins the team as Legal & Tax Director, having worked on a variety of M&A and real estate transactions for multinationals and international institutional clients. Until recently Mr. Parsai held the role of Associate with the tax practice of  leading Ukrainian law firm, Arzinger.

VDHG Opens New Offices in Ukraine 24 01 2020 ENG
VDHG Opens New Offices in Ukraine 24 01 2020 UKR

 

Bavaria Towers: Leading German Asset Manager acquires Blue Tower from Von der Heyden Group

International investment firm Von der Heyden Group has announced the sale of Blue Tower at the Bavaria Towers to leading asset manager on the German market Real I.S consortium, after having secured long-term lease contracts for the state of the art project. The 18-storey Blue Tower acquired from the Group with co-developers BayernProjekt and co-investors Zurich Gruppe Deutschland, is the second highest tower of the four-part high-rise complex in Einsteinstrasse in Munich with a gross floor area of over 24,000 square meters. The tower has been sold at a record yield of less than 3%, registering the highest rate of return of equity for the Von der Heyden in their A-Class building portfolio.

The investment was made by Bayerische Versorgungskammer (BVK) fund managed by the largest AIFM in Luxembourg, Universal Investment. Real I.S.’s asset management mandate and purchase transaction included the asset and SPV management of the tower, complete with long-lease tech giant tenants NVIDIA and BayernHeim as well as Golding Capital Partners. The sale was collaborated by Colliers International and law firm Arnecke Sibeth Dabelstein where the parties have agreed not to disclose the acquisition price.

Sven von der Heyden, Chairman and founder of the Von der Heyden Group: “The Bavaria Towers was one of the first major high-rise projects to be approved in Munich in a long time. Over the span of fifteen years we strived for pioneering architecture, a community-oriented concept and an A-class tenant structure to deliver a spectacular development that would redefine Munich’s Eastern cityscape. Having a renowned buyer in this transaction is testament to the Group’s commitment in providing organic and valuable returns from quality real estate investment” he added further “this project has been seeing difficult times as well, but the persistence of our equity partners, the tireless hard work of our advisors, consultants but foremost the team of Bayern Projekt have made this an outstanding success”.

The Von der Heyden Group has over the past week made the real estate news with the opening of new offices in Ukraine to establish multi-million commercial and residential property investments in Kyiv and Lviv. The Group has a track record for being a first mover in emerging markets, creating landmark Class A office buildings, running award winning hotels and delivering superior returns from real estate investment.

VDHG Press Release sale of Blue Tower at the Bavaria Towers to Real IS 06 01 2020 ENG FINAL

Von der Heyden Group reports its audited and consolidated Financial Statements for the period ended 31st December 2019 with a record turnover of EUR 25,883,596.

TIMAN Investments Holdings Limited (The Company/Group), the Von der Heyden Group Finance Plc’s guarantor, presented consolidated and audited annual accounts for the financial year ended 31st December 2019, reaching a record turnover of EUR 25,883,596, registering an 8.5% increase from 2018. The Company holds for capital growth and income generation, investments in 35 subsidiaries and associated companies around Europe, realising growth in revenues in all its four operating markets at the end of 2019.

The Group reported a net shareholders equity of EUR 44,260,068 (2018: EUR 44,908,977). During the year under review, the Group’s gross profit was of EUR 21,490,877 (2018: EUR 19,194,575), with an operating loss of EUR 2,629,288 (2018: EUR 1,514,709). Such loss reflects the recurring overhead costs of the Group’s structure, which historically is substantially exceeded by dividend income from subsidiaries and capital gains made with its investments.

During the year under review, EBITDA (calculated excluding share of profit from associate) amounted to EUR 3,387,218 (2018: a negative value of EUR 2,222,057), with the reclassification change of IFRS 16 the EBITDA measurement becomes more meaningful in measuring the Group’s performance. After accounting for investment income and finance costs, the Group registered a pre-tax loss of EUR 1,949,469 (2018: EUR 12,994,300 profit).

TIMAN Investments Holdings Ltd. recorded a strong free cash flow position of EUR 6,318,201 as at 31st December 2019, an increase of 66.15% from 2018 which stood at EUR 3,802,604. The Group’s financial performance has, for the second year been positively impacted by its associate Bogenhausener Tor Immobilien Sarl (BTI) having sold its second and last asset, the Blue Tower forming part of the Bavaria Towers office and hotel development in the city of Munich, Germany. The asset was sold in December 2019 to the leading asset manager on the German market Real IS consortium with the main shareholder Bayerische Versorgungskammer. The property was sold at a record yield of less than 3%, registering the highest rate of return on equity for the Group so far in its A-Class real estate portfolio. Though the main impact of the sale in the P&L was reflected already in 2018 due to a revaluation to fair market value at that time, the sale of this asset generated a share of profits, which amounted in 2019 to another EUR 3.1m.

Due to a planned restructuring in operations in light of a more robust market positioning, the Group’s hospitality chain IBB Hotel Collection did not reach the expected profit levels during 2019. The first two months of 2020 registered success in most budget targets across the 11 hotels in the Group. However, the unprecedented events caused by the worldwide COVID-19 pandemic have demanded further restructuring in its hotel portfolio by maintaining, strengthening, and prioritising hotels in markets that generate the most sustainable profitability.

The Von der Heyden Group also recorded a 37% increase in its total assets as at 31st December 2019 recorded at EUR 147,785,446 (2018: EUR 107,485,547). In line with the Von der Heyden Group’s continued growth strategy and as a renowned first mover in emerging markets, it has set up an asset management company with a team of highly skilled real estate professionals operating from its new office in Kyiv, Ukraine. The local real estate and asset management team will serve to launch attractive investment opportunities, working as the Group’s Asset Management arm in Ukraine and starting its first regulated real estate investment fund by the end of 2020. The fund will focus on realising the full potential of Ukrainian commercial and residential real estate market opportunities in Kyiv and Lviv to its investors.

The Von der Heyden Group has also expanded its geographic footprint to Sardinia with the launch of a real estate services arm in one of the world’s most exclusive luxury locations, Costa Smeralda, Sardinia, Italy. Von der Heyden Group Real Estate provides a specialist perspective and bespoke brokerage service in the real estate market to buyers and property owners.

Furthermore, the Group has acquired a 25% stake in a residential co-development project in the Algarve, Portugal, and also plans to undertake its first investment in the Montenegro residential real estate market in 2020.

The gearing ratio of the Group at the end of the year stood at 65.78% as opposed to 54.68% in 2018. The increase is not attributable to higher indebtedness by the Group but rather as a result of IFRS16 coming into force requiring the recognition of leases as liabilities in the Balance Sheet. The gearing ratio without the IFRS16 consideration would have been 51.89%. Furthermore, given that the Group does not grant corporate guarantees for hotel operatingor real estate investment and development subsidiaries, the gearing ratio on a non-consolidated stand-alone basis stands at a mere 18.36%.

Chairman of the Von der Heyden Group Sven von der Heyden said:
The recent sale of one of the Group’s biggest real estate investments to date has led to a comfortable position of liquidity during such unprecedented times. This strength enables us to continue to focus on delivering a high return on the Group’s real estate developments and investment opportunities while ensuring a sustainable growth strategy in the restructuring of our hospitality Group, IBB Hotel Collection. The Von der Heyden Group’s capital growth is at the core of our strategy; as our asset management business expands beyond Ukraine, our mission is to continue to thrive for more positive operational results for our stakeholders.

Bob RottinghuisThe Group’s CEO Bob Rottinghuis adds: The current pandemic undoubtedly will have a long-lasting impact on (real estate) markets across the globe and the way people work going forward. It shows once more that the wellbeing of employees and their families as well as of business partners is critical at all times. Because of the flexibility of our staff, our business has continued in recent weeks without interruption, for which we are very grateful to them. Furthermore, timing is everything, both in buying and selling assets, as well as in starting new developments and business endeavours. The expansion of our activities and its resulting diversification, yet focus on our strengths, will further enhance our Group’s stable growth path in the remainder of this already unforgettable decade.

Press Release 30 04 2020 ENG final

Von der Heyden Group launches Real Estate Services in Sardinia

The Von der Heyden Group, a private investment and real estate firm active in real estate developments and investments, asset management and hospitality operations around Europe, has launched a Real Estate arm one of the Mediterranean’s most exclusive luxury locations, Costa Smeralda, Sardinia. In over 30 years, the Von der Heyden Group has recorded investment programs, real estate assets, impending acquisitions and developments across more than 20 locations around the Globe.

Von der Heyden Group Real Estate will be included as another platform in the Group’s international investment portfolio and will provide a specialist perspective and bespoke brokerage service in the real estate market to buyers and property owners. The new business will also deliver rental, concierge services and property management.

Commenting on the Von der Heyden Group’s new pillar of business, Mr. Sven von der Heyden said: “As the real estate industry continues to evolve, our priorities remain the same; namely, working with local expertise we trust and with whom we have a deep, long-standing relationship. It is in the interest of the Von der Heyden Group as a dynamic international investment company specialising in quality Real Estate to continue to grow and develop our investment portfolio. The Von der Heyden Group’s enterprising real estate investments and developments, its award winning 11-hotel franchise and A-Class building property management expertise combined with its in-depth knowledge of the area, will offer a unique competitive edge for potential investors and experiential holiday makers”.

The Von der Heyden Group made international headlines on real estate news with the sale of the Blue Tower, forming part of Bavaria Towers one of Munich’s largest development projects, as well as the opening of new offices in Ukraine to establish multi-million commercial and residential property investments in Kyiv and Lviv.

Von der Heyden Group Real Estate has opened its head quarter offices with Partner and Managing Director Marco Solas in Costa Smeralda, having extensive experience in the field of real estate and a lifetime of knowledge of Sardinia as an exclusive property location. Walter Martini, an expert in the field of luxury rentals with extensive experience in hospitality joins the team as rental supervisor.

Von der Heyden Real Estate has launched over 70 properties in its Costa Smeralda 2020 collection, featured in its experiential website www.vdhrealestate.com. Featuring in its first season is an exclusive sea view property, Villa Contissa, located in a prime location on the hills of Miata, overlooking Sardinia’s open sea and the archipelago of La Maddelena.

VDHGRES Italy Press Release 24 08 2020 ENG

Von der Heyden Group begins construction on Poznań’s highest A-Class Building, Andersia Silver in Poland

International investment and Real Estate firm Von der Heyden Group has announced the start of construction for Andersia Silver, Poznań’s highest A-Class building after Andersia Tower (105,2 m). The 117,5m high skyscraper is being developed by the Group  through a joint venture company between ‘First Polish Real Estate B.V.’ and the City of Poznań with PORR as international and leading general contractor. The high-rise building  will be the fourth and final phase of the entire Anders Square project in the City. The completion of Andersia Silver in 2023 will mark the finalisation of Von der Heyden Group’s development and co-investor partnership project with the City of Poznań after Poznań Financial Center, Andersia Tower and Andersia Business Center, completed in 2001, 2007 and 2012 respectively.

Andersia Silver, designed by award winning architects Ewa and Stanisław Sipinski, is 25 storeys high with 3 underground floors, catering for over 244 parking spaces. The multi-functional commercial building will comprise of nearly 40,000 sqm in usable area, host prevalent office space and is planned to receive a LEED Certificate at the Gold Level.

Andersia Silver will complete Poznań’s most prominent skyline in Anders Square, with a joint total investment value of over a quarter of a billion Euro.

Sven von der Heyden, Chairman and founder of the Von der Heyden Group: “It is with great pleasure to see the start of the Andersia Silver project, the final addition to Anders Square. For more than two decades, we have strived to achieve what Poznań’s cityscape is today: A bustling, community-oriented location with an A-class tenant structure and a unique opportunity for businesses to claim a spot on one of the major thoroughfares in the city. It is also the start of a grand finale of a very successful public-private partnership we are proud of, which lasts now more than 24 years, which speaks for itself.

Press Release VDHG begins construction of AS 10 09 2020ENG

EU-based investment company Von der Heyden Group deploys its Asset Management Division after being granted Regulatory License in Ukraine

Von der Heyden Group, an international investment firm on the European Real Estate market with a value of over 650 mln euro in aggregated invested assets has been granted an asset management license by the National Securities and Stock Market Commission (NSSMC) of Ukraine. The registered license establishes the Group, with a long track record of being a first mover in evolving free markets, as a pioneer to the investment potential that the Ukrainian real estate market offers. The license also marks the Von der Heyden Group as one of the very first foreign-owned real estate investment firms to obtain an asset management license in Ukraine over the last decade.

The license allows the Von der Heyden Group’s new asset management subsidiary to launch a real estate fund aimed at raising capital through the private placement of shares to professional investors with a minimum investment of 250k euro.

Robert Rottinghuis, Chief Executive Officer of the Von der Heyden Group:
The economic growth over the past 5 years coupled with the unrivalled locations of Kyiv and Lviv for real estate investments and developments has shown an increasing demand for high quality commercial, industrial and residential facilities. In an unprecedented climate, our fund is designed to be one of the building blocks for institutional investors’ continued adoption of real estate assets in upcoming markets. It provides a unique opportunity to secure competitive target returns and stable cash flows for our Group as well as for our limited partners.

The Von der Heyden Group have established a best-in-class local team with extensive real estate management experience. The fund’s annual net Internal Rate of Return (leveraged, after taxes and fees) is targeted to be in the double digits over the seven-year life of the fund. The Von der Heyden Asset Management Company enables the Group to manage its own sponsored funds as well as that of other institutional investors in light of providing exposure to a rapidly developing and upcoming real estate market.

The Von der Heyden Group Asset Management Company in Ukraine marks the Group’s further expansion as an international private investment, asset management and real estate development firm with representative offices in eight countries.

VDHGAMC AMC License Press Release 15 10 2020 ENG

Knight Frank appointed lead agent to lease Andersia Silver – the highest office tower in Poznań

The Von der Heyden Group has appointed Knight Frank as lead agent to advise in leasing of Andersia Silver, a new office tower under construction in Poznań.

Andersia Silver, a modern A class office building, will complete the development of Plac Andersa in Poznań, one of the most prestigious locations in the city center. The building’s total leasable area amounts to circa 40,000 sqm over 25 floors. Tenants will also have access to 244 parking spaces in a three-floor underground car park.  Construction completion is scheduled for Q2 2023. Andersia Silver will be the tallest office building in Poznań at a height of 117.5m. The Investor plans to obtain LEED GOLD certification, attesting to ecological solutions applied both at the design and construction stages.

“We thank the Von der Heyden Group for placing their trust in Knight Frank. After its completion, Andersia Silver will be a prime office product located in the heart of the commercial center of Poznań.  In addition to panoramic views and arguably the best office location in the city, Andersia Silver will offer flexible floor layouts which have turned-out to be essential, in the times of the pandemic,” said Janusz Garstka, Associate Director at Knight Frank’s Landlord Representation.

 “We are glad to be working with Knight Frank. We highly value the competencies of their whole team as regards the leasing process and office market knowledge. The Von der Heyden Group always aims to develop high quality office buildings for the most demanding tenants. Andersia Silver will be no exception. We do understand the importance of prime location and a high quality office product for tenants whose aim is to attract and hire the most talented people to compete on the global market,” remarked Piotr Trybusz, Leasing Director at Andersia Silver.

Von der Heyden Group Launches Luxury Yacht Charter Company

The Von der Heyden Group, an international investment firm eminent in almost 20 cities around Europe, has launched a luxury Yacht Charter company based in Malta. For more than the last 30 years, the Group has made its mark in prominent locations through national real estate developments including A-Class commercial, residential buildings as well as the rehabilitation of landmark sites. The Von der Heyden Group has also spearheaded several successful real estate investment programs, including a luxury real estate agency operating in Sardinia, Von der Heyden Real Estate, a 9-hotel hospitality franchise, IBB Hotel Collection and Cugó Gran as well as a 4-establishment restaurant and catering company,  Hammett’s Collection.

Von der Heyden Yachting Ltd anchors an exclusive fleet of Ferretti Yachts moored in Malta, Sardinia and Menorca and will specialise in creating bespoke experiences to destinations around the Mediterranean.

With a history and heritage in luxury real estate and hospitality, the Group has over three decades maintained its status and commitment in delivering first-class innovations and exponential growth for shareholders and business partners. Von der Heyden Yachting is a natural offshoot and complementary addition to the Group’s subsidiaries, stemming from a personal passion and a deep appreciation of the sea. Our specialised Yachting company is not only distinguished by its mission to deliver unparalleled luxury experiences, but also through the truly unique and customised journeys for our clients in remote and magical locations around the Mediterranean.
Sven von der Heyden, Founder and Chairman, Von der Heyden Group

Von der Heyden’s Yachting fleet is in Puerto Portals (Mallorca), Poltu Quatu (Sardinia) and the Grand Harbour Marina in Malta where the ultra-luxurious 29 meter Riva Argo yacht is moored. It is also where one of the Group’s luxury hotels is situated (Cugó Gran Macina Grand Harbour) as well as the marina where the Group installed the island’s first seabin in the Capital’s harbour. Bespoke charters are offered around the Balearic Islands, the Costa Smeralda and Sardinia or further afield on board the flagship 29 meter Riva Yacht. The Malta-based luxury Yacht charter company offers 5 types of water sport options on board (depending on yacht type) and a specialised, highly trained crew with decades of worldly yacht charter expertise, combined with an impeccable hospitality experience.

This week, the Group has launched its website for multiple markets: www.vonderheydenyachting.com

Press Release VDHY Launch 04 04 2021

Von der Heyden Group reports a consolidated EBITDA increase of 29% to €4.3 million in its 2020 financial statements

Andersia Silver A-Class Highest Building in Poznań (Completion 2023) in Poland

TIMAN Investments Holdings Limited (the “Company”), the Von der Heyden Group’s holding company and the Von der Heyden Group Finance Plc guarantor, presented consolidated and audited annual accounts for the financial year ended 31st December 2020, reaching a  revenue of EUR 23,505,636 despite the global COVID-19 pandemic. The Company holds for capital growth and income generation, investments in 37 subsidiaries and associated companies around Europe.

The Group recorded a strong cash position of EUR 27,905,646 as at 31st December 2020, an increase of EUR 21,587,445 for the previous year end. Given the arduous economic conditions caused by the continuing global pandemic, such a result is highly positive, considering the impact and ramifications of COVID-19 on the Groups’ hospitality subsidiary IBB Hotel Collection.

With a significant improvement in the gearing ratio of the Group declining to 48.95% from 65.78% in 2019 and the borrowings of the Group dropping by 9.7% to EUR 84,493,912, inclusive of EUR 40,231,766 finance lease liabilities, the Group managed to exceed the EUR 25 million closing cash position forecasted in the Financial Analysis Summary (FAS) in August 2020. This was achieved through a significant effort of cost control, property investment returns and cash management.

The Group also recorded a positive working capital position, inclusive of cash in hand, of EUR 17,812,553 from a negative position in 2019 of EUR 6,170,757 due to the positive cash flow generated in the year.

The year under review has in turn highlighted an EBITDA increase of 29% to EUR 4,367,701 from EUR 3,387,218 in 2019, an increase of EUR 980,483. The year 2020 also showed an improvement in profitability of the Group, despite the loss before tax of EUR 483,791 managing a reduction of EUR 1,465,678 from last year’s losses, also through a significant effort to avert the forecasted loss before tax of slightly over EUR 5 million as reported in the FAS.  Moreover, the Group reports a very successful year in the real estate development segment generating EUR 12,255,267 (2019: EUR 178,090) in revenue resulting in net fair value gains of EUR 3,175,319 (2019: EUR 422,557) in relation to the value of investment properties.

The sale of the fully occupied A Class Blue Tower, forming part of the Bavaria Towers project in Munich, Germany, as well as one of the Group’s luxury  boutique hotels Cugó Gran Menorca in Spain has generated excess liquidity during the financial year that both restricted and obligated the halt of the hospitality and tourism industry at large for over 12 months. The subsequent returns, efficient timing when selling properties and the Von der Heyden Group’s diversification in its real estate portfolio has ensured a strong and resilient position as an investment firm active in business in 8 markets across Europe. The Group’s results indicate the stability and favourable returns enjoyed from its complementary subsidiaries in the experiential luxury industry and real estate investment during the year to successfully weather the storm.

Luxury Rental Villa in Porto Cervo (Von der Heyden Real Estate)
Luxury Rental Villa in Porto Cervo (Von der Heyden Real Estate)

The Group’s boutique real estate agency in Sardinia, Von der Heyden Real Estate, operating since last summer, has registered healthy inroads  for luxury villa rentals in Costa Smeralda. This exclusive location, attracting niche and luxury vacationists coupled with the property team’s know-how, inspired the off-shoot of its most recent subsidiary, Von der Heyden Yachting, specialising in equally artful experiences and customised journeys around the Mediterranean, specifically the Balearics, Malta and Sardinia. Launched on Easter Sunday, this luxury yachting charter company hosts an exclusive fleet of Italian luxury Ferretti Yachts.

Argo NOI (Von der Heyden Yachting based in Malta, the Balearics and Sardinia)
Argo NOI (Von der Heyden Yachting based in Malta, the Balearics and Sardinia)

During the third quarter of 2020, Von der Heyden Development announced the commencement of Andersia Silver, a modern A-class office building, that will complete the development of Anders Square in Poznań, one of the most prestigious locations in the city centre. Andersia Silver will have 40,000 square meters of usable office space spread over 25 floors. Upon completion, in 2023, it will be 117.5 meters high, making it the highest skyscraper in Poznań one of the larger cities in Poland a center of trade, sports, education, technology and tourism. The building will also include 244 parking spaces on 3 underground levels and will obtain an LEED certificate at the GOLD level, which will confirm the ecological solutions used at the design and construction stage.

Chairman of the Von der Heyden Group Sven von der Heyden said:

The unrelenting impact of the world pandemic on travel as a global economic sector has been felt by many over the past 12 months. It is a time that will go down in history for the challenging and emotional decisions that had to be made by the commanders at the helm of thousands of businesses. The Von der Heyden Group, hit like the majority, leveraged its invaluable experience in previous economic downturns and its vigour in successful real estate investments and developments to secure its force against this unprecedented wave.

Our sustainable growth strategy continues to be the driving force of our vision for the next decade, where we expect high returns on the Group’s real estate developments and investment opportunities. The Von der Heyden Group is present from the West in Portugal, the south in Malta and Italy to the East in Poland and Ukraine. Our mission is to continue to thrive in economies that see the significance in restoring, rehabilitating or creating spaces that add value to these communities.

The Group’s CEO Bob Rottinghuis adds: Last year’s successful licensing of our asset management business and the resulting current launch of our first fund dedicated to the Ukrainian and Polish commercial real estate markets will make 2021 another exciting year for the Group. Despite the expected remaining economic headwinds we strive for sustainable growth of our subsidiaries and investments across Europe. At the same time, with the relentless dedication of our great team of people across all our companies and geographies, we keep looking for opportunities to gradually expand our solid capital base.

The Group will be launching its new website next week, www.vdhgroup.com.