November 25, 2014

Construction of Enterprise Park phase 3 launched

Construction of Enterprise Park phase 3 launched

Avestus Real Estate has launched the development of the third phase of the Enterprise Park office complex in Krakow. Eiffage Polska Budownictwo, which had previously worked on the two previous Enterprise Park phases, was chosen as the general contractor.

"Starting the development of Enterprise Park back in 2011, which had to face the unfavourable conditions threatening the market at the time was no small challenge and a considerable risk. We were convinced, however, that choosing Krakow as the location for our project significantly minimized such risk. As time passed by, our decision turned out to be a right one. During the three years of the project development, we provided the Krakow market with nearly 30,000 sqm of modern office space which quickly attracted high-profile tenants," said Mariusz Frąckiewicz, Country Manager, Avestus Real Estate.

He added: "Today Avestus Real Estate is among the most experienced office building developers in the region, strongly emphasizing its presence in the commercial real estate sector. We owe it to our team expertise and focus on providing the highest quality offices tailored to the needs of the most demanding tenants. Carrying out Enterprise Park's expansion is an obvious step from the strategic point of view."

The available lease area on the four above-ground floors of building D will total 5,800 sqm. Similarly to the other buildings in the complex, floors will offer spacious and flexible Class A office space of 1,800 sqm (floor 2) to 1,900 sqm (floor 3 and 4).

Maciej Gołębiewski, Director of Marketing and Leasing, Avestus Real Estate is pleased with the launch of construction of Enterprise Park's phase III: "The actual start of construction works is an important milestone. We can now be sure the project will be developed in accordance with the schedule. This also allows us also to enter the final round of negotiations with interested tenants. Construction works are already in full swing. We are planning to deliver the project in November of 2015."

Enterprise Park in Krakow, currently composed of 3 buildings, is a modern business park, whose strength lies the convenient location 3.5 km from Krakow's Old Market Square. Enterprise Park office space will total approximately 35,000 sqm.

The complex complies with international sustainability standards, as confirmed by BREEAM certificates with a 'very good' rating awarded to the buildings. Many environment-friendly solutions have been implemented.

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