February 04, 2014

Plac Unii complex enters the investment market

Plac Unii complex enters the investment market

CBRE has been instructed by Liebrecht & Wood / BBI Development SA to sell Plac Unii, one of the newest office and retail schemes in Warsaw, Poland.

Plac Unii, which has been developed by Liebrecht & Wood / BBI Development SA, is considered to be one of the most prominent developments and eye-catching buildings in Warsaw. The property is comprised of high quality office accommodation and the City Shopping gallery on the lower levels.

Plac Unii complex provides 56,800 sqm of gross lettable space. The majority of the space accounts for the office part totaling 41,300 sqm, which is accompanied by a retail component accounting for 15,500 sqm of the City Shopping gallery. Plac Unii complex comprises of three buildings separated by passages, over which stretches a glass roof. From between the two six-floor buildings, rises a 21-floor skyscraper, inspired by the architecture of one of the first skyscraper towers ever constructed. Renowned and awarded architects Kuryłowicz and Associates designed the complex, which was opened in Q4 2013.

The development is located on the Unii Lubelskiej square, which is one of the most important crossings of the major city roads: Pulawska, Marszalkowska and Warynskiego. Due to its central location, Plac Unii ensures excellent accessibility by all means of transport. Thanks to its unique location, the City Shopping gallery is also becoming one of the most important retail and commercial points of the capital.

Marc Lebbe, Managing Director of Liebrecht & Wood commented: ”Plac Unii is a structure of the highest quality as well as one of the largest commercial investments completed in Warsaw in recent years. We allow the possibility of the sale of the complex, provided we reach satisfactory deal conditions reflecting the quality and potential of this property. Free funds generated from the sale will allow us for development of further projects characterised by high architectural value and innovativeness.”

Michał Skotnicki, President of BBI Development SA said: “Plac Unii is an embodiment of BBI Development’s strategy of developing unique projects in particularly attractive locations in Warsaw. We are proud of being able to present to the market a top quality product, which has already become a landmark of this prominent place.”

Mike Atwell, Head of CEE Capital Markets, CBRE, added: “2013 proved to be one of the most active years for commercial real estate investment in Poland since 2008 and we foresee this trend to continue. Poland, and especially Warsaw, continues to be the most active market in the region and high on most investors target lists. Plac Unii is an iconic building in Warsaw of unique and trophy character and viewed as one of the premier asset sales in the Warsaw investment market for which we anticipate strong interest from a select group of potential investors.”

CBRE Office Agency will also act as an exclusive agent in leasing of the remaining space in the office complex.

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