News Article Cushman&Wakefield Futureal investment Poland repositioning Warsaw
by Property Forum | Investment

Futureal Group has acquired the Antares office building in Warsaw, Poland. The 16-year-old complex will be fully modernized and repositioned in order to exceed the higher expectations of tenants. Cushman & Wakefield has been appointed as sole letting agent for the project.

The complex located in Warsaw at Marynarska Street offers 9,400 sqm of total rentable area, together with 84 underground parking spaces. The office building is situated opposite Galeria Mokotów with a high number of services including barber, beauty parlour; cafés, cinema, fitness club, restaurants and a wide variety of shops. During the upgrade, Antares will be equipped with the latest technology and design solutions to maximize the comfort, well-being and effectiveness of the employees.

Since its foundation, Futureal Group’s portfolio has included more than 100 real estate projects with a total value of €3 billion and an area of over 2 million square meters. Its key market is Central and Eastern Europe with a strong focus on Hungary, Romania and Poland, with further activities in Spain, Germany and USA. The current transaction in Poland marks another significant milestone in the group’s international expansion. Cordia, Hungary’s leading apartment developer and a member of Futureal Group has also made a strong presence in the Polish residential market having already completed more than 1000 apartments.

“The modernized and advanced Antares will further strengthen the group’s presence in the region. We are continuously looking for similar value-add investment opportunities in Poland and all across Europe as we see enormous potential in the sector,” said Gábor Futó, founder of Futureal Group.

“As rental rates continue to rise in downtown Warsaw, offices in the Industrial Służewiec district have become available on more favourable lease terms. In addition, with new residential and hospitality developments, it has transformed from a solely business cluster to a multi-use district. Służewiec has also witnessed transport improvements, including the redevelopment of Marynarska Street, while the planned upgrade of Suwak Street and construction of a new tramline will further improve traffic conditions in the area. Antares became a landmark on the map of Służewiec upon its completion. Tenants value the building for its high standard, proximity to the airport, business environment and excellent exposure,” said Anna Kaźmierska, Associate, Office Agency, Cushman & Wakefield.

“Futureal, the owner of the scheme, is planning a phased upgrade of Antares after which it will become its showpiece. The first tenants will be able to move in in late June or early July next year. Antares enjoys easy access to multiple public transport stops and a bicycle lane, and will soon see the opening a new footbridge over Marynarska Street,” added Dorota Mielke, Senior Negotiator, Office Agency, Cushman & Wakefield.