West 4 Business Hub I, a Class A office building of an area exceeding 15,500 sqm, was acquired by Solida Capital, an investment and development company. The project of Echo Investment, which obtained the occupancy permit last year, was sold for nearly €40 million.
West 4 Business Hub office complex is a follow-up of West Gate and West Link office buildings that have already been built at Na Ostatnim Groszu street in Wrocław and were successfully leased and sold. The construction of West 4 Business Hub I was completed last year and the building welcomed its first tenants including Vorwerk, PM Group, CitySpace and Sii Polska – one of the largest employers in the Polish IT industry.
The entire West 4 Business Hub will offer over 72,000 sqm of office space. West 4 Business Hub I was one of the first buildings where Echo Investment installed special anti-COVID systems improving the quality of air in the building that purifies the air, drawing on solutions naturally occurring in nature.
“The Western part of Wrocław is constantly growing in importance due to great communication and the perfect combination of office, residential and service functions. West 4 Business Hub, as a destination project, not only enjoys the perfect location in the flourishing part of the city but can also be distinguished by its sustainable solutions, comfortable working space and modern design. We are thrilled to start our cooperation with Solida Capital that appreciated the building’s location as well as its long-term value and quality,” says Michał Obara, Investment Director responsible for divestments at Echo Investment.
Maćków Pracownia Projektowa is responsible for the design of the project. West 4 Business Hub I has been awarded BREEAM environmental certificate with an Excellent rating.
“We are very happy to make this announcement, as it’s our first transaction concluded in this asset class in Poland. This acquisition is in line with Solida Capital’s portfolio strategy in the CEE region. We are targeting sustainable A-class buildings that meet high environmental and quality standards located in Warsaw and regional cities across Poland. West 4 building in Wrocław together with Echo Investment’s experience as a developer was, therefore, an excellent combination for our first step,” says Jean Aboumrad, President of the Management Board at Solida Capital Europe.
Solida Capital is an investment and development company, covering the main European Real Estate markets with over €250 million of assets under management. As part of the expansion strategy, it has recently opened an office in Warsaw with a dedicated team overseeing the development and investments in the region.
CBRE and Dentons advised the seller, while BNP Paribas Real Estate Poland and Allen & Overy acted as the buyers’ advisors on the deal. BNP Paribas Real Estate will also be responsible for the property management of the building.
