Historic palace reopens as office building in Bucharest

01
Oct
2018
News - Historic palace reopens as office building in Bucharest #Activ Property Services #Bucharest #office #redevelopment #Romania

by Property Forum | Office

The former Stock Exchange Palace, a historic heritage building located in the centre of Bucharest, has entered into a full process of commercial redevelopment.


Built at the beginning of the 20th century at the suggestion of King Carol I, the building was the headquarters of the Stock Exchange during the interwar period and afterwards the headquarters of the National Library of Romania. In 2008, the building was returned to the Chamber of Commerce and Industry of Bucharest.
 
The building is located at the junction of Doamnei and Ion Ghica streets, across the National Bank of Romania and the new DoubleTree by Hilton hotel which is also an historical building that was refurbished and extended.
 
Activ Property Services, member of GVA Worldwide and the exclusive agent of the project, has provided letting services for all the available spaces afterwards the Chamber of Commerce has occupied the second floor and part of the building’s third floor.
 
The retail spaces located at the building’s ground floor have been leased by Toan's (134 sqm), a Vietnamese restaurant chain, La Vita e Velo (104 sqm), a bicycle retailer specialized in top English brands, along with Forma Art Café (150 sqm). All units are already fit-out and expect to open soon.
 
The first floor’s west wing (1,000 sqm) is used by NF Palace Old City Bucharest, a local operator's hotel that runs also other locations in the Historical Center. The last unit from the third floor is occupied by the architecture office of Metropolis.



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  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.
  • IAG GBS Poland, the shared services arm of the International Airlines Group (IAG), has finalised a lease renewal for 2,246 sqm of office space within the O3 Business Campus in Krakow. The decision to remain in the current location followed a comprehensive market analysis and workplace audit conducted by Savills.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


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