The office properties of the total size amounting to nearly 6000 sq. m were purchased from Satoria Group SA for the purpose of a new headquarters of the Tax Control Office (UKS) in Warsaw. It is one of the largest transactions with the participation of the Tax Authorities on the office real estate market. We are pleased that we managed to finalize such a demanding project, which belongs to the group of special market investments with the participation of the institutional investor. The sale of the office at Ciołka is one of those transactions after the conclusion of which both parties are to have feather in their cap – says Andrzej Wójcik, Chairman of the Board of Satoria Group SA.
The offices which are the subjects of the transaction are situated in the region which is associated with a location that gathers a great number of entities of public administration. There are eight office buildings owned by Satoria Group located along Erazma Ciołka Street. They offer more than 20 000 sq. m in total. Numerous offices and institutions such as the Customs Chamber, the Treasury Department, the Prosecutor’s Office and the Labor Offices located their registered offices in the buildings.
The registered need for office space reported by the public entities motivates Satoria Group to make other investment decisions. The building of C12A is to start in the nearest future. It is to offer 9000 sq. m of usable area. The space of a typical floor in the building is to amount to ca. 1500 sq. m, whereas the setting of the tier is to allow for an easy division of space into offices and open space. The asset of such a location is a modernized tram line at the crossroads of Górczewskiej and Ciołka Streets as well as the building of the second line of metro in Warsaw.
Satoria Capital Group manages 7 own hotels of business and tourist class. They operate under the brands: Best Western, START hotel and RT Hotels in both Warsaw and Krakow. The portfolio of the company also includes a conference center at the Zegrze Reservoir (Zalew Zegrzyński) as well as a hostel and sanatorium in Augustów. Satoria Group SA plans to develop its portfolio of office projects in the future.