Ilbau appoints leasing agent for Ilmet
Ilmet will comprise 19,400 square meters of office space, 1,700 square meters for banking facilities, and 5,600 square meters for retail. The complex is expected to be completed late in 1996.
Ilbau has been very active on the Polish market, as general contractor for the Marriott Hotel, the IPC Business Center and the Radisson Hotel in Szczecin. Most recently they finished work on the 19,000-square-meter Aktyn office building on ul. Chmielna.
Although Ilbau has worked with brokers before in leasing space at projects they have built, this is the first time the company has given an exclusive instruction to a property consultancy.
This could be an encouraging sign for many of the big international property players, which have mostly represented tenants in leasing deals but are just now starting to get work from landlords.
Janet Choynowski of Prime Property says that, given the high level of demand for office space, most developers and owners had assumed they could do the letting themselves, and therefore avoid paying agency fees.
Although the terms of the exclusive appointment have not been released, the tide seems to be shifting as more projects come on the market, increasing the importance of professional marketing and leasing of projects.
This is the second time Healey & Baker have been awarded exclusive leasing rights, the first being Mahler's 36,000 square meter Ochota Office Park near the Warszawa Zachodnia train station.
Other projects that have chosen agents to represent them are Europlex - the office/retail/multiplex cinema project which appointed Jones Lang Wootton as leasing agents; FIM Tower, which went with Unikat to market and lease their project; and Henry Butcher, which is working on both the Atrium and the Wisniowy Business Park.
Orbis fights for Europejski
The High Administrative Court has been given the task of determining who is to retain or regain ownership rights over the Hotel Europejski, on Krakowskie Przedmiescie across from the Bristol.
The hotel is currently run by Orbis, the state tourism agency, which obtained administrative rights over the building in 1956 while the hotel was still undergoing reconstruction. Orbis says that according to the Law on Land Development they should receive long-term lease rights on the land and ownership rights over the building.
Before World War II, the hotel was run by Seweryn Czetwertynski. His son, Stefan Czetwertynski, helped rebuild the hotel after the war. As Antoni Feldon of the Society of Polish Industrialists says: "Europejski was the best hotel in town. When it was damaged during the war, waiters were still serving among the ruins."
The mayor of Warsaw nationalized the building in 1948, saying according to city zoning requirements it was to be for "public use" and that its function as a hotel did not fit into this definition.
Czetwertynski re-established the company Hotel Europejski w Warszawie several years ago and in 1992 the Ministry of Construction and Spatial Planning issued a decision that invalidated the 1948 decree and opened the door for Czetwertynski's group to take the hotel back.
Orbis challenged the ministry's decision and it will now be up to the courts to decide the issue.
EBRD finances distribution center
It's finally official. The European Bank for Reconstruction and Development (EBRD) held out till last week's conference in London to sign their loan agreement with The Kontrabecki Group, which heads up the development team for the Warsaw Distribution Center.
The $7.8 million loan, funded by EBRD and Raiffeisen Zentralbank Isterreich, will finance construction of the first phase of the distribution park, comprising four buildings for a total of 22,000 square meters of floor space.
The development had already pulled together the $5.25 million equity portion of the financing for the entire project before construction began on the first building, which is to be completed in June.
Although no lease contracts have actually been signed for space in the complex, Brian Patterson, who's handling the project for The Kontrabecki Group, said they now have letters of intent for most of the first building.
The project is located off Al. Krakowska, near the Okecie Airport, in what is becoming Warsaw's warehouse and distribution hot spot. Right across the street is another warehouse complex under construction, the Warsaw Industrial Center, the first building of which was 70% pre-leased to Johnson & Johnson.
Patterson said that the average space requirement for companies that they are negotiating with is 1,500 square meters, but that they would like to attract tenants with larger space requirements as well. When the project was first announced last year, the plans called for an office element of about 10%, but this figure has now been increased to 30% due to the high prices in downtown Warsaw.
Ilbau has been very active on the Polish market, as general contractor for the Marriott Hotel, the IPC Business Center and the Radisson Hotel in Szczecin. Most recently they finished work on the 19,000-square-meter Aktyn office building on ul. Chmielna.
Although Ilbau has worked with brokers before in leasing space at projects they have built, this is the first time the company has given an exclusive instruction to a property consultancy.
This could be an encouraging sign for many of the big international property players, which have mostly represented tenants in leasing deals but are just now starting to get work from landlords.
Janet Choynowski of Prime Property says that, given the high level of demand for office space, most developers and owners had assumed they could do the letting themselves, and therefore avoid paying agency fees.
Although the terms of the exclusive appointment have not been released, the tide seems to be shifting as more projects come on the market, increasing the importance of professional marketing and leasing of projects.
This is the second time Healey & Baker have been awarded exclusive leasing rights, the first being Mahler's 36,000 square meter Ochota Office Park near the Warszawa Zachodnia train station.
Other projects that have chosen agents to represent them are Europlex - the office/retail/multiplex cinema project which appointed Jones Lang Wootton as leasing agents; FIM Tower, which went with Unikat to market and lease their project; and Henry Butcher, which is working on both the Atrium and the Wisniowy Business Park.
Orbis fights for Europejski
The High Administrative Court has been given the task of determining who is to retain or regain ownership rights over the Hotel Europejski, on Krakowskie Przedmiescie across from the Bristol.
The hotel is currently run by Orbis, the state tourism agency, which obtained administrative rights over the building in 1956 while the hotel was still undergoing reconstruction. Orbis says that according to the Law on Land Development they should receive long-term lease rights on the land and ownership rights over the building.
Before World War II, the hotel was run by Seweryn Czetwertynski. His son, Stefan Czetwertynski, helped rebuild the hotel after the war. As Antoni Feldon of the Society of Polish Industrialists says: "Europejski was the best hotel in town. When it was damaged during the war, waiters were still serving among the ruins."
The mayor of Warsaw nationalized the building in 1948, saying according to city zoning requirements it was to be for "public use" and that its function as a hotel did not fit into this definition.
Czetwertynski re-established the company Hotel Europejski w Warszawie several years ago and in 1992 the Ministry of Construction and Spatial Planning issued a decision that invalidated the 1948 decree and opened the door for Czetwertynski's group to take the hotel back.
Orbis challenged the ministry's decision and it will now be up to the courts to decide the issue.
EBRD finances distribution center
It's finally official. The European Bank for Reconstruction and Development (EBRD) held out till last week's conference in London to sign their loan agreement with The Kontrabecki Group, which heads up the development team for the Warsaw Distribution Center.
The $7.8 million loan, funded by EBRD and Raiffeisen Zentralbank Isterreich, will finance construction of the first phase of the distribution park, comprising four buildings for a total of 22,000 square meters of floor space.
The development had already pulled together the $5.25 million equity portion of the financing for the entire project before construction began on the first building, which is to be completed in June.
Although no lease contracts have actually been signed for space in the complex, Brian Patterson, who's handling the project for The Kontrabecki Group, said they now have letters of intent for most of the first building.
The project is located off Al. Krakowska, near the Okecie Airport, in what is becoming Warsaw's warehouse and distribution hot spot. Right across the street is another warehouse complex under construction, the Warsaw Industrial Center, the first building of which was 70% pre-leased to Johnson & Johnson.
Patterson said that the average space requirement for companies that they are negotiating with is 1,500 square meters, but that they would like to attract tenants with larger space requirements as well. When the project was first announced last year, the plans called for an office element of about 10%, but this figure has now been increased to 30% due to the high prices in downtown Warsaw.
