Virako has finalised the sale of a majority stake in the special purpose vehicle owning the Monopolis mixed-use complex in Łódź, marking a new phase in the lifecycle of one of Poland’s best-known redevelopment projects.
The transaction covers two of the three phases of the scheme and is expected to support the delivery of the final stage, allowing the project to be completed in line with its original concept. The buyer is a Polish private investor who previously held a minority stake in the development. The transaction price reflects a capitalisation rate in line with prime office assets in regional markets, underlining the asset’s strong market position.
According to Virako, the deal represents a typical stage in asset rotation, with the project moving from a developer-led phase into the hands of a long-term investor following completion and commercialisation.
“Selling Monopolis is a natural step in our investment process and confirms the effectiveness of our development strategy. We create places that respond to market needs while building value for the city and its community. I am pleased that Monopolis has been transferred to a well-known investor with whom we have cooperated for many years,” said Krzysztof Witkowski, CEO of Virako.
Until now, a minority stake in the project had been held by MED Investments, a Łódź-based investment company linked to Janusz and Norbert Kruk, also known for their involvement in Skamex.
Developed on the site of a former vodka monopoly factory dating back to 1902, Monopolis is one of the largest historic industrial complexes in Łódź and has been transformed into a mixed-use scheme combining office, retail, dining, cultural and leisure functions. The complex offers around 20,000 sqm of office space alongside restaurants, services, a children’s club, artistic venues and fitness and beauty facilities. It currently accommodates close to 2,000 employees.
Despite the sale of the majority stake, Virako will remain involved in the project as asset manager, ensuring operational continuity. The company is also preparing the third phase of the development, Monopolis No. 3 – Harmony Residence, a premium residential component currently at the design stage. The next phase is intended to further expand the original concept of Monopolis as a multifunctional urban destination combining business, culture and community uses.
