News Article development Golub GetHouse investment Poland residential Warsaw
by Property Forum | Investment

Golub GetHouse has finalised the purchase of a plot of land located at ul. Grzybowska 59 in Warsaw. In accordance with the provisions of the building permit with respect to this real property, a residential tower of over 160 m with apartments for rent will be erected on the plot of 2,740 sqm.

The new Golub GetHouse investment will be built in the most dynamically developing area in Warsaw. An over 160-metre-high residential high rise will be built on a perfectly located plot (next to the Warsaw Hilton hotel) purchased from Atlas Estates. It will feature approximately 900 apartments for rent with a two-storey amenities infrastructure for the tenants, including a 24-hour residential lobby, SPA centre, gym, yoga area, squash court, cinema room, residential lounge, games room and co-working spaces. The building will also house a restaurant and service premises. Works are currently underway on the final architectural concept of the high rise, and construction works within the investment are scheduled to begin at the turn of 2020/2021.

Cezary Jarząbek, Founder and CEO of Golub GetHouse, said: “A perfectly located plot of land in the new business centre of Warsaw has been added to our investment portfolio. This transaction is another crucial element of our company's development strategy, which focuses on our active operation in the sector of modern residential projects with apartments for rent. It is also another confirmation of our strong presence in Warsaw's Wola district and of our ambitious plans related to this extremely prospective part of the capital. It will be the third skyscraper developed by Golub GetHouse at ul. Grzybowska, after the PRIME Corporate Center office building and the project with apartments for rent – Liberty Tower. We are convinced that by taking this bold move and by closing one of the record-breaking plot purchase deals we have made an excellent decision, which will result in another project setting completely new standards.”

The LSW Leśnodorski Ślusarek & Partners and BCLA Bisiorek Cieśliński i Wspólnicy. law firms advised Golub GetHouse on the purchase.

The residential high rise at ul. Grzybowska 59 will be another investment by Golub GetHouse. Currently, together with Mennica Polska S.A., the company is executing a high rise Mennica Legacy Tower, where the largest office lease transaction in the history of the Polish market took place in 2019. As a result, mBank leased 45,600 sq m of space in this high rise. In 2019, Golub GetHouse also launched a new brand, Inspirentals, which will provide pioneering residential projects relating to apartments for rent in the Private Rented Sector in Poland. Golub GetHouse is also present in the sector of private halls of residence – in September 2019, the company completed the LivinnX Kraków hall of residence. The investment, which offers 710 beds, was delivered in cooperation with the American partner, CA Ventures International.