Globalworth has completed new acquisitions of two buildings in Poland, Warsaw Trade Tower (WTT) in Warsaw and Rondo Business Park in Krakow, for c. €170m. Including these recent additions, the company’s Polish portfolio has grown to almost 500,000m² of GLA in office and mixed-use properties.
Warsaw Trade Tower, an iconic 38-storey tower located in the Wola district of Warsaw’s extended CBD, one of the tallest skyscrapers in the capital, has been acquired for c.€133m. WTT offers a gross leasable area of 45,400m² and benefits from the lobby and the majority of the common areas having been fully refurbished. The property is multi-tenanted, with AXA as the largest tenant alongside other international companies including American Express, Leroy-Merlin and Mattel.
Rondo Business Park, located in the northern part of Krakow, was acquired for c.€37m. The building offers a gross leasable area of almost 17,800m² across three buildings. Current tenants include Capgemini.
"We are delighted to add Warsaw Trade Tower, a prominent landmark office tower, to our Polish portfolio, offering an attractive yield and a range of asset management opportunities. The acquisition of Rondo Business Park in Krakow has a sound strategic rationale, being located alongside our Quattro Business Park and creating management synergies through an enlarged footprint. We are very pleased to be increasing our office presence in Krakow to over 100,000m², given the backdrop of strong occupier demand arising from its position as the largest business services centre in Poland and one of the largest in Europe", commented Dimitris Raptis, Deputy CEO and CIO of Globalworth Group and CEO of Globalworth Poland