LaSalle, acting on behalf of the pan-European fund Encore+, has managed the acquisition of an office building, Wronia 31, with excellent sustainability credentials in Warsaw’s City Centre west zone from Ghelamco. This dynamic market is the fastest developing market and is emerging as a major business location in the city. The purchase price was not disclosed.
The newly built high-quality office building comprises 16,667m² over 14 floors and benefits from a multi-tenant structure. The asset enjoys close proximity to the Warsaw Spire and to a variety of public transport options. It holds an Outstanding BREAAM rating and recently won the international BREEAM Awards 2019 competition in the category of Regional Award Central and Eastern Europe.
David Ironside, Fund Manager for Encore+, said: “This is an excellent acquisition for Encore+ where the asset characteristics of geography, sector and micro-location are all in line with the Fund’s investment targets; moreover it increases our exposure to the growing Central European office market and the economic growth in Warsaw.”
Francesco Coviello, Head of Transactions for Central and Southern Europe at LaSalle, said: “This is a very well-located asset in an area with much lower vacancy rates than the rest of Warsaw. As such this is an excellent fit for LaSalle’s flagship pan-European fund and highlights our local knowledge in Poland and our ability to source high-quality assets.”
