Platan project moves to next phase
Platan Group, the local developer that is converting three 18th-century mansions on Warsaw's plac Trzech Krzyzy and ulica Mokotowska into an office and retail project, entered a new stage of construction last month: renovating the buildings' crumbling foundations and facades.
The project, which began last September, has until now involved gutting and rebuilding the mansions' interiors to meet modern, A-class office space needs, such as open-plan interior and air conditioning. Once completed, the structure will have 9,000 square meters of total space, including 5,500 square meters of net office space.
Platan, which bought the mansions two years ago and is planning to have them renovated by 2003, refused to disclose any details about the project's costs. According to Marketing Director Anna Stawny, if somebody had calculated the costs at the beginning, the project would not have seemed like a good investment. However, she said, it is worth having in Platan's portfolio.
Conforama to challenge Ikea
France's Conforama, a retail chain with furniture, appliances and electronics, opened its first store in Poland last week at Janki shopping center.
The company, set up here in 1998 by owner Pinault Printemps Redoute, had been looking for the ideal location to launch a flagship store. The Janki outlet has 4,150 square meters of retail space and 6,100 square meters of warehouse space. The firm, which refused to reveal how much the development cost, is planning to open another outlet on Warsaw's ulica Ostrobramska this year and one in the Targowek shopping center in 2002.
Ikea announced that it would close its outlet on Aleje Jerozolimskie in June 2001 to concentrate on its locations in Janki and the soon-to-be finished Targowek center. "We want to offer a full range of our products, not just a small section of what we have," said Jan Musiolik, head of Ikea in Poland. Musiolik did not seem alarmed by the prospect of competition. "It (Conforama) will not threaten our position because we have regular customers," he said. The Swedish chain plans to expand its Janki outlet from 14,000 square meters to 23,500 square meters and open the Targowek outlet in June. "Customers will see which one is better," Musiolik said.
Announcements
q Office. Internet Partners, an Internet service provider, has signed a five-year lease in the BTC building, located at the intersection of Aleje Niepodleglosci and ulica Woronicza. The ISP will take 3,500 square meters in the 7,900 square-meter building. Healey & Baker represented developer Towarzystwo Inwestycyjne BT in the deal.
q In April, Universal Music Polska and its subsidiary Magic Records will move to the Hektor II office building on ulica Gdanska in the Zoliborz district. Both companies will take 1,200 square meters in the building, which has an asking rent of $21 per square meter.
q Allianz Polska, a German insurance group, took 700 square meters in Centrum Biurowo-Finansowe on ulica 17 stycznia. The seven-story building has 3,700 square meters of space. Knight Frank Nieruchomosci acted on behalf of the building's owner, the Targanski company.
q Warehouse. National Grid Koleje Telekomunikacja (a joint venture between the U.K.'s National Grid, Energis, Polish State Railways and Polish Telecom Operators) has signed a lease for 5,200 square meters in Warsaw's Diamond Business Park. King Sturge, a U.K. real estate consulting firm, represented developer AIG/Lincoln in the deal. There are 32,000 square meters available for rent in the Diamond Business Park.
