Speedwell Development has acquired a development site in Warsaw's Targówek district from European Logistics Investment (ELI). The developer plans to build premium Small Business Units (SBU) under the SpacePlus brand, expanding one of Warsaw's retail destinations with modern commercial infrastructure.
The site is located next to established retail brands including IKEA and Leroy Merlin. The retail hub attracts approximately eight million visitors annually, making it one of the capital's most active commercial corridors. Its location near the S8 expressway provides excellent visibility and will accommodate flexible SBU space designed for long-term operational performance.
Backed by Belgian family capital through Baltisse Real Estate and Straco Real Estate, Speedwell entered the Polish market in 2024.
"Today's market is far more demanding than it was just a few years ago. Value is created through strong fundamentals, disciplined capital and the ability to deliver quality consistently, even in challenging conditions," said Didier Balcaen, Co-Founder and CEO of Speedwell Development. Michał Stępień, Country Manager at Speedwell Development Polska, said Warsaw remains one of the most attractive real estate markets in the region. "This acquisition represents another important step in the development of our Polish platform and reflects our long-term conviction in the potential of well-connected urban locations."
White & Case acted as legal advisor to Speedwell Development during the transaction, while Gleeds provided technical due diligence support. The parties have not disclosed the transaction value, with further project details expected later this year.
