TriGranit to start the construction of 80,000 sqm GLA office space in 2018 in Central Europe
TriGranit, one of the most dominant real estate platforms in Central Europe celebrated its 20th anniversary year with development activities primarily in Poland, while focusing on several project preparations in CE and widespread leasing activities. The seventh building in Bonarka for Business (B4B) office complex in Krakow, Building G, with 10,000 sqm GLA was handed over at the beginning of the year, and the construction of Building H, the eight building also started in October. The company concluded leasing extension and expansion agreements for almost 22,000 sqm GLA office space, and closed new leases for over 8,000 sqm in their assets in the region. Heading to 2018, TriGranit’s secured office development pipeline in CE exceeds 140 000 sqm GLA, while the company is planning to start the construction work of 80,000 sqm GLA office space already next year.
As for developments, TriGranit finished the seventh edition of B4B, Building G with 10.000 sqm GLA in January as a 100 percent built-to-suit development fully let by its tenant, Euroclear, the Belgium-based financial services company. With this latest element, the complex offers altogether 65,000 sqm GLA, but it’s not where the developer stops: the construction of the next phase, Building H, the 8th element of B4B started in October with earthworks on the plot managed by Hamer Polska Ltd. The structural work is expected to start in Q1 2018, with prospective occupancy in Q2 2019. Due to the busy Krakow office market, TriGranit is proceeding with the development of the next phase of the buildings in B4B: Building I and J are already in the pipeline. The two final elements will be launched in 2018 and 2019 with 10,000 sqm GLA each.
Further office pipeline projects of TriGranit includes Millennium Gardens, the company’s Hungarian project in Millennium City Center at the Danube in Budapest, which is the firm’s first development in Hungary since 2011. The Class-A office building will offer 37,300 sqm GLA for its future tenants. Lakeside Park II in Bratislava, an 11-floor building with 13,000 sqm GLA, located in a well-established business district in Bratislava III, Nove Mesto area, only 4 km from Bratislava Old Town, will be the second edition of Lakeside Park Offices. Both projects have already received the building permit. The development of the Silesia Towers in Katowice, located next to Silesia City Center are highly possibly to begin in H1 2019, adding altogether 40,000 sqm GLA to the city’s office market.
“Having over 140,000 sqm GLA secured office pipeline in four cities means, that 2018 can be the most active year in TriGranit’s life. On top of our operating portfolio of around 90,000 sqm GLA office space, we will start the construction work of 80,000 sqm GLA office space in 2018, to be followed by further office developments in the region. We hope, that in 2-3 years period, we can double our operating office portfolio,” said Árpád Török, CEO of TriGranit