Financial details were not revealed for the transaction, which closed at the end of June.

Comprising a total area of more than 12,000 m2, the deal marks Warimpex’s third investment in Lódz, following the acquisition of the andel’s hotel and Ogrodowa Office.

Said Franz Jurkowitsch, CEO of Warimpex: 'We are delighted by this successful transaction, which represents the expansion of our office real estate portfolio with a building that is very well known locally.

'For many years we have been watching Lódz develop and attract more and more Polish and foreign companies. With a solid business environment, a highly qualified workforce, and well-developed infrastructure, we see great potential in the local office market.

'We will actively seek new tenants for the Red Tower, but we also plan to expand the existing co-working space offerings at this location.'

The Red Tower is one of the tallest office buildings in Lódz, with a height of 80 metres and panoramic views. It was built in 1978 and underwent extensive modernisation between 2006 and 2008, including the replacement of its facade with a brick one, tranforming it into the landmark building it represents today.

With flexible layout options, a typical floor in the Red Tower building comprises 650 m2 of space, with large glass surfaces and light ducts for all workstations. It is currently partially let.

In the future, a co-working zone will offer additional flexible spaces, as well as conference rooms and a relaxation area.