Echo Investment sells Warsaw office building for €76.5 million

28
Nov
2018
News - Echo Investment sells Warsaw office building for €76.5 million #Echo Investment #GLL #investment #office #Poland #Warsaw

by Property Forum | Investment

The Gatehouse Offices, the first office building of Warsaw Brewery, will be acquired by a fund managed by GLL Real Estate Partners. The project of Echo Investment, which will obtain the occupancy permit in Q4 2018, will be sold for €76.5 million.


The 15,700 sqm office building will be mainly occupied by L’Oréal Polska, Epam and WeWork. Employees of these companies will use a comfortable work space and green terraces located on the roof. The ground floor of the building will be occupied by cafes, restaurants and stores. The Gatehouse Offices will be ready to move into in 2019.
 
Warsaw Brewery is the area between Grzybowska, Wronia, Chłodna and Krochmalna streets, which will be reintroduced to the urban fabric by Echo Investment. A new, open quarter created by residential buildings, office buildings and public squares, rest and recreation places, cafes, restaurants and shops is being developed. This is a place with a beautiful history but above all a modern, functional and comprehensive urban and architectural concept.
 
“We have designed Warsaw Brewery in such a way that this place would attract people, be friendly and convenient for work, meetings and leisure. We are pleased that GLL Real Estate Partners will soon become a co-host of this unique ‘destination’ project”, says Nicklas Lindberg, Echo Investment CEO.
 
Echo Investment has already begun the construction of the next two office buildings: Villa Offices and Malthouse Offices. In another part of this area, three buildings, which apartments quickly found buyers, are developed as well as a residential building for the apartment rental platform Resi4Rent. The developer has also started work on the renovation of historic cradle cellars in which beer was formerly stored.



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New leases

  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.
  • Yareal Polska has expanded the commercial offering at its flagship SOHO mixed-use development in Warsaw’s Praga-Południe district, securing three new lease agreements totaling nearly 500 sqm of ground-floor retail space. The developer has strengthened its tenant roster by signing pet supplies retailer Maxi Zoo, ceramics workshop Alike Pottery Studio, and coffee distributor Unroasted.
  • International flexible office operator SwitchUp has launched its expansion into the Polish market, securing a lease agreement for 2,100 sqm of space at the AFI Office House in Warsaw. The transaction represents the company’s debut contract in Poland, positioning the operator within the first office building of the city’s upcoming Towarowa22 regeneration development. Savills acted as the deal broker.

New appointments

  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.
  • BNP Paribas Real Estate Poland has expanded its Industrial and Logistics Agency team with the appointments of Joanna Choromańska, formerly of JLL, and Bartosz Wilczyński, previously with CBRE. The new hires bring a combined 34 years of experience in sector sales, lease negotiations, and build-to-suit project delivery to support the division's ongoing growth.
  • Speedwell has expanded its industrial and logistics team with the appointment of Valentin Achim as Leasing and Property Manager for Industrial Developments. Achim brings extensive experience in coordinating commercial and operational activities within the logistics and industrial sectors. In his new role, he will oversee the development and expansion of the company's Spaceplus platform.


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