Globalworth completes €113.2m Polish office deal

Globalworth completes €113.2m Polish office deal

LC Corp SA has closed the sales process for the Katowice’s Silesia Star and the Wrocław Retro Office House. The new owner of the two office buildings is Globalworth Poland Real Estate group. The final €113.2m contract was signed on 19 July. It is LC Corp’s first sale of commercial property ever. The process is part of the company’s new strategy for office buildings.

 

Located at the heart of Katowice, Silesia Star is an A-class property composed of two buildings with 27,000m² of total floor area. Starting from 2016, the compound has enjoyed a stable 100% occupancy rate, with one of the major tenant being the European R&D centre for Mentor Graphics. Silesia Star has been sold for over €54.3m.

 

The prestigious office building located at the centre of Wrocław, Retro Office House shows a truly modern style. The 21,000m² of available floor area was rented within 6 months of the building having been commissioned. The building’s tenants include a shared services centre for Olympus’s European, Middle East and Africa operations. Globalworth acquired the property for €58.8m.

 

“The closing of the sales process for Silesia Star and Retro Office House is yet another milestone for LC Corp. This is our first sale of office buildings ever and is part of our new strategy for office buildings, a move from keeping properties within our portfolio to selling fully rented, well-functioning venues in major Polish cities,” said Dariusz Niedospiał, President of the Management Board at LC Corp SA.

 

“We want to improve and enlarge our offering for the tenants and communities of our buildings in regional cities by adding a high-quality property to our portfolio. Retro Office House and Silesia Star are modern, office buildings with great locations in Wrocław and Katowice. They are a great addition to our Polish portfolio, now comprising 21 properties with 560,000m² of total floor area,” commented Lukasz Duczkowski, Investments Director at Globalworth Poland.

 

 

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