Muranów on the rise

Austria-based Premiumred Real Estate Development is nearing completion of the construction of Brama Północna, a class-A office building on ul. Bonifraterska in the vicinity of the Old Town. The building is to be completed by the beginning of 2008.

Upon its completion, Brama Północna will offer over 30,000 sqm of office space for lease. The 87-meter building has 24 floors and three underground levels, which will accommodate a parking lot for more than 300 cars. The 11th to 24th floors will form a tower from which a tenants will be able to enjoy a panoramic view of Warsaw. Depending on the floor, the basic office module ranges from 200 to 230 sqm, but Premiumred is also considering leasing smaller spaces. The developer is currently in advanced negotiations with future tenants.

"The prominent location and the easy access to public transportation meet the expectations of the potential tenants, who we believe will be satisfied with their new office," said Sebastian Proć, Premiumred's country manager in Poland.

Along with Budimex's upscale Murano residential project on ul. Inflancka, Brama Północna is part of the revival of this section of the capital.

The general contractor for Brama Północna is Mostostal, which signed a contract worth E31.7 (zł.121.3) million. The design for the project was drawn up by Kancelaria Inwestycyjna Property-Project.

After the completion of the project, Premiumred will continue its activity in Poland, which the company considers one of its core markets.