- Second phase of University Business Park in Łódź has received occupancy permit, marking the completion of the investment
- The complex comprises two A-class office buildings
- Total leasable area of the complex is 39 200 sq. m
The second building of the University Business Park office complex developed by GTC in Łódź has received occupancy permit. This marks another important milestone in the Group’s history with the first GTC’s project in Łódź now officially completed.
This modern, A-class investment situated in the very heart of the city offers tenants flexibility and growth opportunities within one office park as their business expands. Upon completion of the second phase, the University Business Park offers its tenants 39 200 sq. m and 600 parking spaces in two seven-story buildings.
“We appreciate the great and ever-growing potential of the city of Łódź and we are proud to have put our stamp on its dynamic and extremely promising real estate market. In line with our growth strategy, we are constantly expanding our core portfolio and the completion of the University Business Park has been one of our main priorities for 2016” said Thomas Kurzmann, GTC CEO.
The University Business Park features a restaurant, café, fitness and other amenities. It also provides 4 convenient car entries, parking space for taxis and guests and a separate delivery zone. The long list of prominent tenants of the complex includes Fujitsu, Aegon, Impel Catering, Samsung Electronics Poland, Accenture, Mobica and PKP Informatyka.
- GTC has acquired two A-class office buildings in CBD of Bucharest
- Premium Plaza and Premium Point will add over 15,000 sq. m of office space to GTC’s portfolio
The GTC Group, one of the leading commercial real estate companies in Central, Eastern and Southern Europe has acquired the two modern A-class office buildings in Bucharest, Romania. Premium Plaza and Premium Point will increase GTC’s Romanian portfolio by 15,000 sq. m of net leasable area.
The two office buildings will offer all the features that leading companies may expect from a modern office building. Their location close to the most important public transport hub in Bucharest, the near vicinity to governmental buildings and great visibility grant top representation and comfort to the tenants and their employees.
“The acquisition of these two prime office buildings will substantially improve GTC’s position as mayor player on the office market in Bucharest. Both assets are located in the heart of the Bucharest’s central business district and the value add potential will be unlocked via a combination of technical upgrade and improved services for tenants granting high occupancy in near future.” – said Thomas Kurzmann, CEO of GTC.
Completed at the end of 2008, the Premium Plaza high-rise building comprises fifteen office levels accessible from the main lobby and three underground parking floors providing 85 parking lots. The investment encompasses 8,600 sq. m of which 86% has been leased to international tenants. Whereas, the Premium Point office building, delivered in 2009 offers a total leasable area of 6,400 sq. m on 9 floors and 72 parking lots in 3 levels of underground parking. It is leased in 74% to top global companies, such as Franklin Templeton, Thomson Reuters, Autodesk and HBO. Both buildings are located in the centre of one of the most important administrative, business, finance and cultural districts in Bucharest and offer excellent access and visibility.
The Seller of both properties was advised by Colliers International.
Acquisition of Premium Point and Premium Plaza increased GTC’s portfolio to 37 projects and over 665,000 sq. m of commercial space, following earlier acquisition of Duna Tower in Budapest and Pixel in Poznań as well as completion of Fortyone office building in Belgrade in late 2015. In 2016, GTC’s portfolio will further grow with the expected completion of University Business Park in Łódź and second phase of Fortyone ofiice building in Belgrade, while the completion of its biggest project, Galeria Północna in Warsaw, is planned for 2017.
- GTC bought-out its minority partner in City Gate, its landmark office building in Bucharest.
- At the same time, Romtelecom signed a five-year lease prolongation with GTC at City Gate; this transaction constitutes the largest lease transaction on the Bucharest office market in 2016 to date.
GTC successfully streamlined the ownership structure of City Gate, one of its landmark office buildings in Bucharest by buying-out its minority partner, Bluehouse Capital and now owns 100% of the equity. At the same time, Romtelecom (recently renamed to Telekom Romania), the largest Romanian fixed and mobile telecom operator, signed a five-year lease prolongation at City Gate. After a diligent evaluation process Romtelecom decided to maintain its 13,000 sqm headquarters in City Gate until 2022 due to the building’s high quality and attractive central location.
City Gate was initially developed as a joint-venture between GTC and Bluehouse Capital, and is still one of the most prestigious office buildings in the central business district of Bucharest. It was also the first office project in Bucharest to have received a partial LEED Gold certification confirming the high degree of energy efficiency of this property.
“These two transactions demonstrate GTC’s strong position as a leading real estate player on the Romanian office market. They are also fully in line with our overall strategy of streamlining the ownership structure of our existing portfolio on an opportunistic basis and further improving cash flows through active asset management” said Thomas Kurzmann, CEO.
- The construction of Galeria Polnocna started in July 2015. The underground and ground level floors are now complete and work is now ongoing with sanitary installations and foundation strengthening.
- Galeria Polnocna will open in the first half of 2017.
The construction of Galeria Polnocna is moving at a fast pace – with tens of thousands of cubic metres of concrete, thousands of tons of steel and the strengthening of the foundations – the building is starting to climb upwards. The construction work started in July of last year and the opening of the Shopping Mall is scheduled for first half of 2017. Galeria Polnocna is already 70% leased taking into account signed agreements and letters of intent.
A reinforced concrete structure forms the underground and ground level floors. The pillars supporting the first floor are completed as well as 50% of the ground floor ceiling, and work has already begun on the first floor itself. In total 65 thousand cubic metres of concrete and 8.4k tons of reinforced steel have been used in the construction.
„The work is proceeding according to the schedule and the general contractor Unibep is working at full speed so as to make the deadline for the grand opening of the Shopping Mall in the second quarter of 2017. We are convinced that the implemented design will fully meet the expectations of the residents of Bialoleka and other neighbouring districts.” says Jacek Wachowicz, Chief Investment Officer of GTC, the Investor.
Alongside the construction the commercialisation is also moving ahead –70% of the space has already been rented, including signed contracts and letters of intent, which means 45.4 ths m2 of commercialised retail space. Galeria Polnocna has attracted many core tenants such as Carrefour, Cinema City and RTV EURO AGD. Shoppers will also be able to find such brands as Home & You, Empik, iSpot, W.Kruk, H&M and Rossmann. In addition the clothing retail giant Forever 21 has just signed its first rental agreement in Poland for this mall.
We’re fully aware that by opening the first Shopping Mall of this kind in this part of Warsaw we are taking advantage of an extraordinary opportunity. This is why we have developed an offer which is attracting the best tenants, representing the full spectrum of all retail segments. I’m convinced that Galeria Polnocna will be a place where customers will be happy to spend their time in – adds Jacek Wachowicz.