News and Views from the Real Estate World
The Von der Heyden Group plans to build a 22-story, A-class office block on plac Andersa in Poznan, the company announced last week. The development, which will be the tallest in the city, is close to the German firm's first project there, the Poznan Financial Centre.
To raise capital for the $70 million project, Von der Heyden and Poznan city authorities set up a company called Andersia Property. Andersia expects to be awarded a construction permit during the summer and to break ground in autumn.
The first stage of construction, which should be finished by September 2002, will include an underground car park, internal communication systems and general infrastructure. The company is scheduled to complete the development by 2004.
German firm Bilfinger+Berger could be the likely contractor for the job after its work on the Poznan Financial Centre, the only A-class office block in the city. It has 14,500 square meters of space, of which 70% is leased to Wielkopolski Bank Kredytowy.
The Von der Heyden Group has developed other projects in Poland, including office buildings on ulica Skorupki and ulica Nowogrodzka in Warsaw.
Poznan's demand for office space amounts to 76,000 square meters, according to research conducted by U.K.-based real estate consultant Knight Frank Nieruchomosci. This year, Poznan should see 24,000 square meters of new office space, and another 27,000 square meters in 2002 and 2003.
Some property watchers, however, doubt the city is ready for that much additional space. "We are cautiously optimistic about the Poznan market," said Alan Colquhoun, managing director of international property adviser DTZ, that is setting up a branch in Poznan. According to him, Von der Heyden's latest project will outstrip the city's demand for space. Nevertheless, he said that Poznan ranks No. 2 after Warsaw in terms of cities with potential for office projects. "The economy is growing there, I have a positive impression of the city," he said.
Telecom firm buys into
Optimus center
Pro Futuro, an independent telecom operator listed on the Warsaw Stock Exchange, has taken over part of the 7,000 square-meter Optimus Business Center in Warsaw. The company bought into the B-class office block on ulica Wynalazek for zl. 45 million ($11 million).
Software leader Optimus, which owns the 25,000 square-meter complex encompassing the business center, is negotiating to sell the remaining 18,000 square meters. Company spokesman Marek Macias refused to reveal the names of potential buyers and value of the space. According to analysts, the Optimus Business Center is worth zl. 205 million ($50 million). "This location is perfect, the whole area is developing very fast," Macias said.
ComputerLand moves to Kopernik
ComputerLand is moving to Warsaw's Kopernik complex in June. The software producer and systems integrator concluded a five-year deal with Healey & Baker, the building's agent, to lease 6,000 square meters of office space in the complex, located on Aleje Jerozolimskie and ulica Popularna. ComputerLand will be Kopernik's first tenant and pay a monthly rent of O130,000.
The company, which until now had offices in three Warsaw locations, is looking forward to having its workforce under one roof. "All employees will be able to work together," said Slawomir Chlon, managing director of ComputerLand. He said the firm would probably take more space soon.
The O40 million Kopernik Office Buildings consist of five structures and 24,000 square meters of office space. In addition to about 800 parking places, the complex will have a restaurant and some retail space. The first phase is scheduled for completion in March 2001 and the rest by 2004. Belgian Liebrecht & Wood, which developed the Jerozolimskie Business Park, Batory Building and Flanders Business Park, was the developer.
Announcements
Alfa Smart Parks, a U.S. leisure and entertainment investor, plans to develop three water parks in Warsaw, Poznan and Katowice. The sites and value of investments should be tied up shortly following the visit to Poland of the company's vice president, William Getz. Alfa Smart Parks will be working with Polish partners Elimp and Mostostal Bedzin on the projects, which are still in their preliminary stages. According to Elimp's Andrzej Annusiewicz, there is still room for three to four water parks in the cities. He hopes to complete these projects within the next five years. The first one should begin by the end of this year in Katowice.
Knight Frank Nieruchomosci has added its first buildings to its residential unit. The company, which had focused on its office agency and financial advice within the property sector, has four exclusive buildings with space for sale and/or rent. These include the "Apartamenty 209" apartments on ulica Solariego, Zuga and Aleja Szucha.
