The Groundbreaking Ceremony for the Redevelopment of Elektrownia Powiśle by White Star Real Estate and Tristan Capital Partners was recently held, attracting many Warsaw City leaders, leaders of Poland’s real estate community, and representatives of Europe’s best retail and restaurant brands seeking to lease space in the innovative project.
The investment in Warsaw’s burgeoning residential and leisure district of Powisle will include the restoration of the historical power plant and its redevelopment into a retail and leisure destination, with the creation of three new class-A office buildings, luxury apartments and a boutique hotel totalling 50,000 sqm.
The new mixed-use project offers a glimpse of how the future of retailing will look. Elektrownia Powisle will feature over 40 new leisure concepts including restaurants, bars, cafes, and dancing and live entertainment venues created by leading Polish and International operators. The culinary offer will include an international food hall with over 20 different cuisines and bar themes from all over the world. Full service restaurants, cafes and bars will enclose the project’s two expansive public squares where the developer will organize frequent events including live concerts, plays, shows, sporting events and a summer cinema.
Elektrownia Powisle will also create an integrated high street experience with over 10,000 sqm of urban retail space. Against the backdrop of the raw and industrial historic power plant and among the urban streetscape and the wide culinary offering, top Polish and International fashion brands have found a new venue to showcase their brands. In addition to the large leisure and fashion offer, the investment will also include three Class A office buildings of 23,000 sqm, a boutique hotel and for-rent residential apartments.
Elektrownia Powisle benefits from an extraordinary location between Warsaw’s Central Business District and the Vistula river and along the expanding Warsaw metro line. The project is only two metro stops away from the city centre, yet within the idyllic surroundings of Powisle, with its many parks, bike paths, museums and trendy bars and cafes. The project is also within Warsaw’s tourist circuit and is across the street from the world-class Copernicus Science Museum and the world-famous Chopin museum. It is also a short five-minute walk to ul. Nowy Świat and 10-minute walk to Warsaw’s Old Town.
The project will attract the local student population, as the Warsaw University Library, which attracts almost one million visits per year, is located nearby
Brian Patterson, the Chairman of White Star Real Estate, said:“We are confident that the redevelopment will be one of the most innovative and unique mixed-use projects in Europe. Located in the heart of Powiśle, it will be a new destination for living, working, shopping, leisure and entertainment. In addition to the buildings, the project will include three piazzas which will provide venues for regularly held events: concerts, art shows, exhibitions etc. We hope the project will become the new centre for entertainment in Warsaw.”
Karol Bartos, Executive Director at Tristan Capital Partners, said: “We are excited to be investing in the regeneration of this historic landmark power station, creating a unique piece of real estate. Elektrownia Powisle will be an exceptional space, addressing the future requirements of leisure and retailing.”
The architect team at APA Wojciechowski is supported by Belotto Design and David Leonard Architects on this creative and innovative project.
Located at Leszczynska, Zajęcza and Wybrzeze Kosciuszkowskie the Powiśle Power Plant was once one of the most innovative power plants in Europe, supplying energy for all of Warsaw. The plant ceased to supply power in 2011.Elektrownia Powisle will re-open in its new format in 2018/2019 with the first office and restaurant tenants moving in at the start of 2018 and the retail opening in March 2019.
The global healthcare sector remains buoyant and is expected to grow despite a challenging economic outlook, according to global property advisor, Knight Frank. Investors remain confident in the long-term...