Business Link and Skanska will co-create an innovative ecosystem for start-up companies, small and medium enterprises, and companies from the business services sector in CEE. The developer has invested in Business Link – the largest network of co-working space and private offices in Poland. Because of Business Link’s planned international expansion, the company will become one of the biggest networks of its kind in the world.
Over the next couple of years, Business Link will create around 12 new locations in CEE, totalling approximately 45,000 – 50,000 sqm. The investment of €10 million will be spread over time and will depend on fulfilling mutually agreed upon business goals. Skanska and Business Link’s partnership is adding the latest model to its office space commercialisation proposition – a solution highly in demand especially among start-up communities as well as small and medium enterprises that mainly power Poland’s economy.
“We are diversifying our real estate portfolio, adding new flexible and creative office space that is accessible 24/7, and can be leased “on demand” with a ramp-up, and mentoring package if needed. Ultimately, up to 9,000 people will be able to work in office space provided by Business Link in Skanska’s buildings located in Poland, the Czech Republic, Romania and Hungary”, explains Katarzyna Zawodna, President at Skanska’s commercial office business in Central and Eastern Europe. “For major players on the business services market it might be particularly advantageous to have the possibility of leasing office space ad hoc, without the necessity of traditional agreement clauses, but being able to cooperate closely with start-up environments. For young entrepreneurs, it’s a great chance for business development in high-class offices in central city locations. This is the first fully comprehensive offer of this magnitude in CEE”, she adds.
Skanska ultimately will acquire up to 50% of Business Link’s shares and will become the majority shareholder of the company. The venture will be managed by a newly established company. The first Business Link offices in Skanska’s buildings will be open later this year. In the transaction, Business Link was advised by RSQ Associates, while PWC and Linklaters acted jointly as advisors for Skanska. The transaction will be finalised upon obtaining permission from the Polish Office of Competition and Consumer Protection.
