Virako unveils Monopolis office project in Łódź
16:59
Developer Virako has presented the architectural vision for its planned Monopolis office project in downtown Łódź, which will involve the revitalization and redevelopment of a historic post-industrial site that previously housed a vodka distillery. The scheme will comprise a total of 23,400 sqm of office space, as well as retail, cultural and recreational areas, with JLL acting as the exclusive leasing and marketing agent for the development. Construction work on the first phase of the investment, which will involve the revitalization of the existing buildings of the former distillery and the development of 7,000 sqm of office space, is scheduled to launch in the second half of this year and finish in H2 2018. Two new buildings, comprising 8,050 sqm and 8,350 sqm of office space, are to be completed in 2019 and 2020. The project was designed by Grupa5 Architekci in cooperation with a local architectural studio. With an existing stock of 374,200 sqm, Łódź is the seventh largest office market in Poland. According to JLL data, in Q1 2017 the vacancy rate in the city stood at 5.8 percent and was the lowest among the largest office markets in the country. Virako has been active since 2001 and is known in Łódź for its Centrum Biznesowe Faktoria and Forum 76 Business Centre office projects.
