The biggest office space deal in Poland (PL)

Bank Millennium S.A. has leased most of the space in Warsaw's 'Harmony-Polifonia Office Centre'. The complex is being built by Harmony Office Center Sp. z o.o. and EKO Park S.A. The total amount of leased space is currently 22,400 m² and may ultimately exceed 30,000 m². The project shall be executed in two phases: phase one with approx. 18,400 m² will be delivered in January 2008, with plans to complete phase two with a minimum of 12,000 m² by April 2009.

Cushman & Wakefield represented Bank Millennium S.A. in the process of selection of space expansion options that ultimately led to seeking and selecting a project to house the Bank's new Head Office as well as in negotiations and signing of the office space lease contract with the developer Harmony Office Center Sp. z o.o. and EKO-PARK S.A.

'Harmony-Polifonia Office Centre'

Paulina Misiak, Associate from the Office Department in Cushman & Wakefield and responsible for the whole transaction, said, "One of the key expectations of Bank Millennium was to have the possibility of consolidating space in a single project and to provide employees with a friendly and comfortable work environment. Moreover an important selection criterion was the unique location of the Harmony-Polifonia Office Centre close to the city center, in green surroundings and in the immediate vicinity of Pola Mokotowskie. This transaction is the biggest lease contract in the history of the Polish office space market."

Julianna Boniuk-Gorzelañczyk, Member of the Management Board of Bank Millennium S.A., said, "We are highly satisfied with the potential that this project offers, especially with regards to its unique location and completion in phases, which permits seamless consolidation of our offices and caters for the Bank's needs with regards to future expansion."

Jan Zajaczkowski, President of Harmony Office Center Sp. z o.o. and Member of the Board of EKO-PARK S.A., said, "We are very proud at having acquired such a prestigious tenant. We shall do our utmost to tailor the new seat of Bank Millennium to its needs. For us it is a great success and we hope that our subsequent projects will meet with equal interest from the market."

Bank Millennium is a national universal bank, which offers its services to all market segments via a network of branches, networks of individual advisors and electronic banking. The Bank's main shareholder is Banco Comercial Portugues (Millennium bcp) – the largest commercial bank in Portugal. Bank Millennium is the core of the Bank Millennium Group, which also comprises: Millennium Leasing, Millennium Dom Maklerski, Millennium Towarzystwo Funduszy Inwestycyjnych.

The developer of the complex is Harmony Office Center Sp. z o.o. together with EKO Park S.A. Harmony Office Center Sp. z o.o. will develop the first phase of the Harmony-Polifonia Office Centre. EKO-PARK S.A. is responsible for phase two of the project. EKO-PARK S.A. has already completed several phases of a prestigious residential estate at Chodkiewicza and Rostafiñskich streets near Pole Mokotowskie in Warsaw. The residential project was awarded many times for its interesting architecture. The company exists since 1996.

The Harmony-Polifonia Office Centre was planned from the very beginning in the vicinity of the residential estate near Pole Mokotowskie and ul. œw. Andrzeja Boboli. Currently phase one is under development – three six-story buildings with total space of approx. 18,400 m². The buildings will be linked with a glass-paned ground floor and a two-level underground car park. Terraces with green gardens will be located on the ground floor roof. The façade will be made of glass, aluminium and stone. Phase two shall comprise at least 12,000 m². The cost of the entire project is approx. €90 million. The office complex design is the effect of cooperation between the architects Pracownia Architektoniczna APA Kurylowicz & Associates and Grupa 5. General contractor of phase one of the complex is SPS Construction Sp. z o.o.

Source: Cushman & Wakefie

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