Echo Investment sells Symetris II office building to EPP
Echo Investment and EPP have concluded the final sale agreement of the second stage of the Symetris Business Park office complex in Łódź. The 9,700 sqm building is 94 percent leased by companies such as Philips Poland and Office Bistro.
After closing the transaction, EPP has become the owner of the entire Symetris Business Park complex located on Piłsudskiego Avenue in Łódź. The transaction concerning the first stage was closed in December last year. The transaction concluded amounts to €19 million.
“Symetris Business Park is a well-leased office complex and attract high interet from companies from the fast-growing industry of shared services. Today's transaction proves the effectiveness of our profitable growth strategy, which assumes close cooperation with reputable and reliable partners, such as EPP, and selling a project shortly after its construction and lease. We believe in the potential of Łódź, which is why we are preparing to start new projects here, which will further increase the attractiveness of this city for the shared services sector,” said Nicklas Lindberg, CEO of Echo Investment.
“The successful acquisition allows EPP to own both phases of the project, making it more marketable. We believe it is a good opportunity that we see have a lot of profit potential, however, we do not plan it as a long term investment. Our strategy to maintain focus on retail remains the same,” commented Hadley Dean, EPP’s CEO.
Symetris Business Park is a modern office complex consisting of two buildings with a total area of over 19,000 sqm leased, among others by Nordea, Philips Polska, TRW Polska, Solar Polska. It is located on Piłsudskiego Avenue - the main street of the city, connecting the city centre with the two largest districts - Widzew and Retkinia.
Symetris Business Park allows for a possibility of flexible space arrangement. Open space areas are envisaged in the buildings, as well as conference halls, studies, and quiet rooms. The underground garage offers 381 parking spaces for users. The complex has obtained a green BREEAM certificate.