Erbud to build Szucha Premium Offices for PLN 41 mln

Real estate developer Erbud has signed a deal for a building demolition and the construction of Szucha Premium Offices in Warsaw. The value of the deal stands at PLN 41.28 million. The investor is GPG Corner – Green Property Group. "According to the agreement, Erbud will demolish the existing building and will construct a seven-storey office building with an adjacent three-storey part and an underground car park," the company stated. The scheme will offer 7,500 sqm of office space plus retail space, a restaurant and conference facilities. Construction is set to begin by the end of Q1 2015. The project is scheduled to be completed in September 2016. Currently, Erbud is carrying out office space projects worth PLN 354.7 million, which accounts for 22.6 percent of the company's portfolio.