SPEEDWELL Development, an established Belgian-rooted developer, has acquired a development site in Warsaw’s Targówek district from European Logistics Investment (ELI), a logistics platform active in the Polish market. The site is set to become home to a new generation of Small Business Units (SBU) under the SpacePlus brand, strengthening one of Warsaw’s strongest retail destinations with a broader commercial environment.
The asset is located within one of Warsaw’s strongest established retail destinations, anchored by international brands such as IKEA and Leroy Merlin. The wider retail hub attracts around eight million visitors annually, making it one of the capital’s most active commercial corridors. Its location near the S8 expressway, with excellent visibility from the route, is expected to accommodate premium SBU space designed around flexibility, accessibility and long-term operational performance, while further strengthening the wider commercial ecosystem of the area.
The transaction marks another step in SPEEDWELL Development’s expansion across Central and Eastern Europe. Backed by Belgian family-owned capital through Baltisse Real Estate and Straco Real Estate, SPEEDWELL Development entered the Polish market in 2024. This acquisition reflects the company’s broader strategy of delivering high-quality urban environments rooted in strong fundamentals, contemporary architecture and a careful response to evolving market demand in strategically connected locations.
For Didier Balcaen, Co-Founder and CEO of SPEEDWELL Development, the current market cycle increasingly rewards developers capable of combining financial discipline with long-term conviction.
“Today’s market is far more demanding and multi-layered than it was just a few years ago. In this environment, value is created not through momentum, but through strong fundamentals, disciplined capital and the ability to deliver quality consistently, even in challenging conditions. We believe the next generation of leading real estate platforms in Europe will be built by investors who can combine resilience with long-term vision and sustainability,” said Didier Balcaen.
Michał Stępień, Country Manager at SPEEDWELL Development Polska, said the company sees the Polish market as significantly underserved in terms of premium urban business formats.
“Warsaw remains one of the most attractive and resilient real estate markets in the region. This acquisition represents another important step in the development of our Polish platform and reflects our long-term conviction in the potential of well-connected urban locations,” said Michał Stępień.
White & Case acted as legal advisor to SPEEDWELL Development during the transaction process. Gleeds provided technical due diligence support.
