HB Reavis completes West Station I in Warsaw

03
Nov
2016
News - HB Reavis completes West Station I in Warsaw #development #HB Reavis #office #Poland #Warsaw

by Ákos Budai | Office

Construction of the first of two West Station office buildings, located in the immediate vicinity of the new Warszawa Zachodnia railway station, has completed. The complex, seen from both Jerozolimskie Ave. and all passing trains, will soon welcome its first occupiers. Its developer, international real estate company HB Reavis, signed a loan contract to refinance the project.


West Station is a joint venture development by HB Reavis, PKP S.A. and Xcity Investment. The partners first delivered the new Warszawa Zachodnia railway station building last year. The neighbouring office building is the following step in creating a functional urban environment on this part of Jerozolimskie Ave. As part of the project’s improved accessibility, investors reconstructed a nearby junction, and extended the bicycle lane linking the new office building with the city centre. HB Reavis has signed a loan contract with mBank for €45 million to refinance the development costs of West Station I.
 
With 75% of the building already being leased, the 14-storey West Station scheme will house offices of PKP Group companies among others. In additional to new office spaces, West Station I will accommodate a WARS restaurant, Costa Coffee café, as well as a bakery by Goraco Polecam Nowakowski.
 
The second West Station building is due to complete in Q3 2017. The entire complex, designed by Polish architecture studio FS&P Arcus Sp. z o.o., will offer a total of 68,000 sq m of Grade A office space upon completion. West Station I has been awarded the BREEAM Interim certificate at “Excellent” level.



New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • 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.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • 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.

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