Penta selected Savills as the sole agent for its office project in Warsaw's Mokotów district
Penta Investments selected the international consulting company Savills as the sole agent for commercialization of its first office project in Poland, currently underway in the Warsaw's Mokotów district, at 48 Domaniewska Street. The contract covers commercialization of office spaces, as well as commercial spaces located in the building's ground floor. Total lease area is more than 26 thousand square meters.
The 11-floor, A-class office building with total space of over 26 thousand square meters is the first project carried out by Penta Investments in the commercial real property market in Poland. The project is being built on a plot with area of around 8 500 square meters, located in the Warsaw's Mokotów district, at Domaniewska Street No. 48. The building should be completed and put into operation in Q3 of 2017. The total estimated project value is around EUR 45 million.
"Savills shall support us both in the lease of space in our building, and in the related promotional and marketing activities. With each project in the real estate market, including our first project in Poland, we devote special attention not only to the building itself and its technical specification, but also to ensuring the highest level of services for the tenants", said Damian Grzywacz, Senior Manager at Penta Investments, in charge of Penta's investments in the Polish real estate market.
"We feel honored by having been chosen by Penta to commercialize its first office building in Poland. The building's excellent location - on the most prominent corner of this micro-location (at the intersection of Postępu and Domaniewska streets), the varied form with terraced roofs accessible to the tenants, and the high floor efficiency are just some of the advantages of the project, relevant for the tenants. The fact that Penta chose Mokotów for the location of its first office building confirms the interest of tenants in this location, which has been constant for years", said Dorota Ejsmont, Head of the Landlord Representation Office at the Office Agency at Savills.
Penta Investments activities in the real property market:
- Since 2005, Penta has been an active, long-term investor in the commercial property market in Central and Eastern Europe. The real property market accounts for 22% of Penta's investment portfolio. It is the second most important - after investments into the health services sector - area of Penta's business.
- Currently the Penta real property portfolio includes 20 projects: in Slovakia (11), in the Czech Republic (7) and in Poland (2 projects).
- At the end of 2015, the total area of projects carried out by Penta amounted to 246 600 square meters of GLA/NSA*, of which 70% in the office segment.
- The Polish real property portfolio of Penta Investments - aside from the current office project in Warsaw's Mokotów district - includes also an office project with GLA of around 29 thousand square meters, positioned on a land plot of 6 400 square meters, located at the intersection of Miedziana and Pańska streets in Warsaw, in the Wola district. Construction works should commence in 2017 (after all required permits are obtained), and the building should be put in operation in 2019. Penta plans to invest a total of around EUR 60 million in this project.
Key projects in the Penta Investments portfolio in the Czech Republic and in Slovakia:
- Class A office center in Bratislava, with total GLA of almost 74 thousand square meters, including 5 800 square meters of GLA designated for retail and service outlets. The project was completed in 2012.
- 57 000 square meters of GLA, class A office complex in the center of Prague, includes 7 900 square meters of GLA for retail and service outlets. The complex includes a 7-storey hotel building, with GLA of 4 600 square meters, operated by the German network Motel One. The office part was completed in 2013, and Motel One was put in operation in 2014.
Bory Mall and Bory Cinema
- More than 54 000 square meters of GLA, a retail and leisure center in Bratislava, designed by world class architect Massimiliano Fuksas. It includes 196 retail outlets, restaurants, cafes and the modern Cinemax cinema complex of 4 900 square meters, consisting of 12 movie theaters. The center was completed in 2014, and the cinema complex was put in operation in 2015.
- 27 000 square meters of GLA, class A office building in Prague put in operation in 2015.
- This is the first stage of the multi-stage Waltrovka project, located on a land plot of 16.9 hectares and estimated total project value exceeding EUR 200 million.
- Currently Penta is carrying out the Waltrovka Rezidence housing project, which includes 650 apartments and 50 single-family houses.
Masaryk Station Development
- An office, retail and residential project, which shall constitute part of a new district, the so-called Central Business District in Prague. The office part consists of around 70 000 square meters. The project assumes also revitalization of the historical Masaryk railway station. The project is in the preparatory stage.
*GLA - gross leased area, a measure applied to office and commercial premises. NSA - net sales area, for residential projects.
Penta is a Central European investment group established in 1994. It operates mainly in healthcare, financial services, manufacturing, retail and real estate development sectors. The Group manages an evergreen fund of its partners, the company's only shareholders. Its portfolio companies provide jobs to more than 37,000 people and reported assets of EUR 7 billion for the 2015. Polish portfolio of Penta consists of: Fortuna zaklady bukmacherskie, Dr. Max, Empik Media & Fashion, Iglotex, EMC Instytut Medyczny, Learning Systems Poland, Clar System and two real estate projects in Warsaw. Penta is active in more than 10 European countries and has offices in Prague, Bratislava, Warsaw and Munich.
Savills is a leading global real estate advisory listed on the London Stock Exchange. The company operates from over 700 owned and associated offices, employing more than 30,000 specialists throughout the world. Savills has operated on the commercial real estate market in Poland since its inception in 2004. The company services the needs of real estate occupiers, developers and investors. Our people combine entrepreneurial spirit and a deep understanding of specialist property sectors with the highest standards of client care.