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ECO Industrial town with modern offices

Revitalization project of a former Norblin factory
Norblin factory will offer 40 000 sq. m of office space
Art Norblin partnership received a final building permit for the building of a multifunctional structure in Warsaw. Primarily, the building will provide new office space.

The investment, which envisages a revitalization of historical post-factory halls, will cost ca. 40 mln zlotys and will start in the first quarter of 2015. Inclusively, 10 buildings will be modernized, above which a new development will arise. In the central point of the complex, there will be a paved and non-covered lane, along which shops and restaurants will be located.

 

Realization of such complicated projects challenges even the most experienced investors. Over nearly six years since the property’s purchase, dozens volumes of historical, conservational and structural documentation have been created. Moreover, over fifty specialists have been working on the project, additionally we hired many consultants, and these works cost several million zlotys – comments Kinga Nowakowska, chief executive officer of Art Norblin Sp. z o.o. Since the beginning, we have believed that it is a special place which is worth the effort. We are planning to maintain a post-industrial character of the former factory and create an unique and almost 2-hectares space on the map of Warsaw. Currently, we are commencing the further stage, that is an executive design – adds.

 

Norblin factory will offer jointly 64 000 sq. m, divided into office space (40 000 sq. m) and service, commercial and cultural space (24 000 sq. m). The buildings will have maximally 8 ground tiers and will be certificated in the BREEAM system. The investment is located at Żelazna 51/53 Street in Warsaw.

 

The project’s investor is Capital Park Group, specialized in searching and using of market opportunities (opportunistic investor). The main company’s objects is to acquire properties with a significant potential of the building’s value, for instance though changing conditions of a land management, receiving a building permit or reconstruction of existing structures. Since 2003, that is the beginning of the activity, the Group has carried out ca. 100 investment transactions. Moreover, it manages a portfolio of properties covering 76 projects with the total hiring area of ca. 250 000 sq. m. gross, located in 39 cities.


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