Globalworth buys two Polish office buildings – Globalworth is making two investments in Poland, for a combined transaction value of EUR113.2 million.
Retro Office House, a newly completed office development located in central Wroclaw benefitting from excellent connectivity to all parts of the city and a range of public transport options, is to be acquired for EUR58.8 million. The building offers a gross leasable area of 21.9k sqm, an annualised contracted rent of EUR3.9 million and is 100% leased to a variety of tenants, including Infor and Olympus, with a WALL (weighted average lease life) of 5.0 years.
Silesia Star, an office complex with two interconnecting buildings developed in 2014 and 2016 at the heart of Katowice, is to be acquired for EUR54.4 million. Located in the immediate vicinity of the city centre, it is close to two universities and various transport options. The building offers a gross leasable area of 29.2k sqm and an annualised contracted rent of EUR4.6 million at 95% occupancy, which rises to EUR4.8 million as a result of a vendor guarantee on the existing vacant space. It is leased to a variety of tenants in the finance, technology and services sectors, with a WALL of 3.6 years.
Dimitris Raptis, deputy CEO and chief investment officer of Globalworth, commented: ” … these new acquisitions follow on from our very successful EUR500 million capital raise earlier this month. These investments reinforce our position in both Wroclaw and Katowice, and represent very desirable, well-located properties in these important regional Polish cities. We have announced over EUR280 million of investments in Poland this year, consolidating our position as the most active investor in the Polish office market“.
GWI : Globalworth buys two Polish office buildings