Globalworth acquires brace of new-build Polish offices

AIM-listed property firm Globalworth has acquired two office buildings in Poland, the Chmielna 89 asset in Warsaw and Tischnera Office in Krakow, from developer Cavatina Holding.

Financial details were not disclosed.

The deal for the assets, which have a combined 60,000 m2 of leasable space, brings Globalworth's Polish portfolio to 23 properties, with a total of 600,000 m2 of space.

The soon-to-be-completed Chmielna 89 office building comprises 25,000 m2 of space and is characterised by a crystal shape. Globalworth noted that it also benefitted from its proximity to Warta Tower, which the firm owns and is planning on modernising. The two assets will form a 'multi-functional facility in the heart of Warsaw with 60,000 m2 of space for work and leisure', said Dimitris Raptis, deputy CEO and chief investment officer at Globalworth, CEO at Globalworth Poland.

Tischnera Office in Kraków offers nearly 34,000 m2 of space, and was designed in the shape of an irregular hexagon, with an internal courtyard located above the garage and 10 floors above-ground.

'The execution of this transaction confirms Globalworth’s position as the most active office investor in the Polish market year-to-date, with nearly €470 mln of transactions completed or secured,' said Lukasz Duczkowski, head of investments at Globalworth Poland. 'These two excellent assets are very complementary to our existing portfolio in Warsaw and Krakow, further consolidating our position as the country’s leading office investor and landlord.'

Following the deal for Tischnera Office, the company’s Krakow-based portfolio will consist of four properties with a total area of approximately 144,000 m2. This transaction will also increase the size of the company’s portfolio in Warsaw to nearly 236,000 m2.


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