April 12, 2019

New Work in the Imagine office building in Lodz

New Work in the Imagine office building in Lodz

New Work Offices, a Hungarian operator of flexible office solutions, has become another tenant of Imagine – the office complex carried out by Avestus Real Estate at the intersection of Piłsudskiego and Śmigłego-Rydza avenues in Lodz. The offices of the tenant will be located in buildings A and B of the complex, and will occupy nearly 2,000 sqm of its area. The lease agreement for the space has been signed for a period of 10 years. Imagine in Lodz will be the company’s seventh location in Poland and the first outside Warsaw.

New Work will provide office space for corporate clients and some serviced offices for smaller companies at Imagine. The Services include a 24/7 reception with concierge services plus a meeting and conference center available for all tenants. Clients can expect fully fitted out space and offices ready to move in standard space.

"New Work currently operates in five countries, besides Poland it's Hungary, Romania, Ukraine and the Czech Republic. Lodz, after Warsaw is the second city in Poland where we set boots on the ground. Imagine soon will be followed by a second location in Lodz. Thanks to this transaction, our commitment in Poland scales to 20,000 sqm and eight locations, while we intend to expand to 40,000 sqm and at least 15 locations by end of 2019. Our entire portfolio will comprise then approx. 100,000 sqm in 50 locations in the CEE region," says Hubert Abt, CEO of New Work.

New Work Offices has leased a total of 1,939 sqm of space in the Imagine complex. On the ground floor of Building A there will be a conference centre, which will occupy 262 sqm of space. Two floors of Building B will house the tenant’s coworking space. On the fourth floor it will take up 632 sqm of space, and on the fifth floor – the company will occupy whole space – 1,045 sqm. The agreement to lease space in Imagine has been made for a period of 10 years. During the transaction, Avestus Real Estate was advised by Colliers International, and the tenant was represented by Savills.

"When making the decision to develop the Imagine complex, since the very beginning we have wanted it to become an epitome of modernity and one of the symbols of positive changes taking place in Lodz. We have also wanted the project to follow the latest market trends and thus meet the expectations of even the most demanding companies. Signing a lease agreement with New Work Offices is another proof that we have achieved this goal. We have made every effort to make Imagine a high-class office complex which offers space that each tenant can arrange in any way best suited to the formula of their business," commented Mariusz Frąckiewicz, Director Poland at Avestus Real Estate.

New Work Offices is not the only tenant of the complex in Lodz. On 2,043 sqm of space at the Imagine building there will also be offices of Bluerank, a company operating in the technology sector. The other tenants are: the bilingual kindergarten and nursery Kids&Co. and the Olimp restaurant. Both companies will develop the retail and service area of the complex, located on the ground floor of Building B. On the ground floor there will also be a Żabka shop and the Z Pieca Rodem – local where you will be able to buy bread baked on the spot and have a cup of coffee.

As part of the Imagine project, a state-of-the-art Class A office complex is being built, consisting of three buildings. Two of them (six-storey facilities) will offer a total of 17,200 sqm of commercial space: 14,800 sqm of office space and 2,400 sqm of retail and service space. The third one will house an overground garage offering 356 parking spaces and 49 double bicycle racks.

On the Imagine construction site, the façade of office buildings is currently being mounted and intensive finishing works are underway. In recent weeks, the buildings have been connected to the power grid, elevators have been installed in Building A and roofing has been completed.

The Imagine office complex was designed by the DDJM Biuro Architektoniczne studio with Colliers International responsible for commercialization. The complex is scheduled to be delivered in September 2019.

IntraLog Poland
Private Equity