Why did you decide to modernize the existing buildings?
First and foremost, it is important why we decided to purchase the historical buildings. These are conservation areas characterized by special architecture, aesthetics and functionality in particular; they have very good and stable construction elements. DL Center Point Katowice, which is situated at Mielęckiego Street, is an office with a perfect location in the very heart of the city center. It is distinguished by a beautiful elevation and finishing elements such as banisters or balustrades and a very functional setting of communication inside the building. DL Center Point Gliwice is our new purchase, however, we can confidently state that it is a special building of unmet architecture these days, which makes it one of the most recognizable structures in the city.
The decision about modernization of such offices in our company was dictated by very good knowledge of given properties and thus the opportunity of maximizing the investment potential in respect of both commercialization and enhancement of the value of our portfolio.
What are the assets and the drawbacks of using the already existing buildings?
As for the drawbacks, I would say that the limited possibility of adaptation is the main disadvantage. In case of offices, the possibility of development, or redevelopment, is usually small, and its adjustment to the planned purpose is a more demanding investment process.
As for the assets, I would definitely enumerate the enrichment of the portfolio by buildings with beautiful architecture and history. The big asset is also the fact that they are usually maintained in a good condition, and modernization works are conducted quickly and efficiently. As we know, saving time and high quality of the product are very crucial in the entire investment process.
So how to adjust an older building to the needs of present tenants?
The adjustment of such buildings as DL Center Point Katowice or DL Center Point Gliwice is mainly related to enhancement of the building class thanks to the application of solutions which are characteristic to offices class A: air conditioning, lifted floors, natural lighting, adjustable windows, alternative source of power, optimization of media consumption, etc. Our tenants appreciate the comfort of work and they do not remain indifferent to the prestige of location of their offices, especially if we have the legal and financial sectors in consideration. The facilitations of existing building give us an opportunity of offering a special office equipped with modern installations.
What is the most difficult part in modernization of existing buildings?
While modernizing existing buildings, we face the challenge of adjusting the building to the planned investment purpose. It is not a building realized by our company and thus we may expect some unknown factors which can influence the schedule and the budget envisaged for a given location. First and foremost, we analyze such investments very thoroughly each time, which helps us to limit the mentioned threat to the minimum.
In case of older buildings, the conservation areas should be always taken into consideration, because it indicates the maintenance of the historical character of the building. We estimate the real schedule since the renovation of certain elements is very time-consuming and we are imposed by deadlines resulting from the contracts signed with tenants.