Skanska sells Polish office portfolio for €128m

Skanska sells Polish office portfolio for €128m

Skanska has sold two office projects in Poland to Stena Real Estate BV, an international property company that is part of the privately-owned Swedish Stena Group. The first phase of the Centrum Poludnie complex in Wroclaw, consisting of two joint office buildings, and the last building of the High5ive complex in Krakow, comprises 39,400m² of innovative and sustainable office space. The projects are designed and built in line with ESG principles, which demonstrates Skanska’s commitment towards today’s business, environmental and social needs. It is the second transaction between the two parties in CEE since the second building from the Spark office complex in Warsaw was acquired in 2020.


The first stage of Centrum Południe offers 28,215m² of sustainable and modern office and retail space, which is 69,5% leased. It is a part of a multi-stage complex that will ultimately offer 85,000m² of modern office and retail space. Construction of the first phase ended in July 2020. The final, third phase of Skanska’s High5ive office complex, which has a leasable area of 11,250m² and is 99% leased, will be the first Skanska office building in Krakow to hold a WELL certificate. This certificate is awarded to healthy and comfortable workplaces. Its construction is scheduled to be concluded in the first quarter of 2022.


"We are proud to conclude another transaction with Stena, which comprises an office portfolio of our investments in Wroclaw and Krakow. It shows that our projects continue to gain the interest of investors and that Skanska is a reliable and safe partner. Our offices represent the most innovative solutions in terms of sustainability and certification, which make them high-quality workplaces adjusted to today’s needs, from the tenant’s perspective, along with the investors," said Arkadiusz Rudzki, Executive Vice President of Leasing & Sales at Skanska’s commercial development business unit in CEE.


"We are following our plan to grow our property portfolio in Poland with sustainable modern high-quality products and with this transaction we are now established in the three major cities Warsaw, Krakow and Wroclaw. We are looking forward to welcome new tenants to Stena in the spring and appreciate the good relationship we have built in Poland with both Skanska and our advisors through this smooth transaction," commented Sofia Granlund, MD, Stena Real Estate BV.


"Centrum Południe and High5ive are our flagship projects on Poland's two key city markets. This transaction confirms the perception of Wroclaw and Krakow as good destinations to allocate capital," said Adrian Karczewicz, Head of Divestments at Skanska’s commercial development business unit in CEE. "Despite the pandemic’s impact on transactional market activity around the world, high-quality investment products are still desired and attractive among international investors. Now they are focused especially on core assets designed and built in line with ESG principles."

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