M7 Real Estate has acquired well-established office in the city of Katowice, in South-East Poland. The scheme comprises 12,672ft² over ground and six upper floors and with 183 car parking spaces. It is let to eight tenants, reflecting a diverse income profile and strong covenants including Santander, Capgemini and SGS. The purchase price was not disclosed.
The property provides a range of amenities such as a canteen, coffee bar, medical centre and a bank, whilst also being 200 metres away from Katowice’s largest shopping mall, Galeria 3 Stawy, and benefitting from strong transport links, including the adjacent A4 motorway providing direct access to the city centre and airport.
Katarzyna Parkot, Managing Director, Poland at M7 said: “The major Central European economies have continued to grow strongly over recent years and this particular asset, while in line with our strategy of investing in offices with upside potential through active asset management, also benefits from a defensive income profile and diversified occupier line up. The acquisition is also reflective of our ability to execute transactions in more challenging situations. We are seeing a structural shift in the Central European office and logistics markets, particularly in expanding urban centres where vacancy rates have significantly reduced due to limited supply. This is leading to strong rental growth that we are seeking to access on behalf of our investors.”