New Holland

Holland Park development, offering extended-stay apartments, was completed in 2000 with Hochtief Polska Budokor as the general contractor. It is located near Warsaw's central Plac Trzech Krzyży, which is a mosaic of historical buildings (St Alexander's Church), socialist architecture (the Ministry of Economy), and modern structures (Sheraton Hotel). The complex's three buildings are surrounded by a park and the total usable area of the buildings is 11,800 sqm.

The new owner of Holland Park plans to thoroughly refurbish the development in order to raise its standard. The 64 available apartments will be equipped with new furniture and appliances. Some of the flats will be rearranged, resulting in the creation of enormous 200 sqm penthouses. When complete, the apartments will be comparable to a four- or five-star hotel.

"We are looking to invest some EUR 2.5 (zł.9.7) million in the refurbishment of the existing apartments," said the director of Keen Property Partners, Richard Keen. The new manager of the buildings estimates the average rent of a 90 sqm apartment to be EUR 2,500 (zł.9,700) per month, at EUR 23 (zł.89) per sqm.

Keen Property Partners, a company specializing in residential projects, has been present on the Polish market since January 2005. Holland Park is the first bigger project for the firm in Poland.

Agnieszka Barteczko