Cedet Sold For Euro 129.5 Million

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Cedet
Cedet Warsaw
Korean fund managed by GLL Real Estate Partners purchases Cedet building from Immobel Poland for EUR 129.5 million.

Cedet building is situated in the city center of the business Warsaw’s district at Krucza 50 Street. Revitalization and development of this legendary building ended in May this year. The investment combines commercial functions with highest class offices.

There are 15 000 sqm of office space and 7 000 sqm of commercial and service space on over 22 000 sqm. The entire building is commercialized and all contracts had been signed before the commissioning in July 2018.

Tenants are: Smyk with its major salon occupying over 1 400 sqm on two floors, Rossmann, Biedronka, Apteka Europejska, T-Mobile, Zdrofit and Costa Coffee. One of tenants in the office part is WeWork, which occupies over 4 000 sqm on two floors and internal patio of the size amounting to over 270 sqm.

 

Investors do appreciate the Warsaw commercial market and consider it incredibly attractive with its huge increase by 4.6% in 2018, i.e. twice as more than all of Europe. According to the European Cities And Regions Of The Future ranking, the capital is considered 7th best European city of the future and 2nd best eastern city of the future.

Warsaw is considered a financial center of the region and thus many companies, attracted by this growing market, decide to relocate to the capital. This phenomenon is particularly noticeable on the example of large demand for office spaces which increased their size to 632 000 sqm in the first three quarters of 2018.

Architects from AMC – Andrzej M. Chołdzyński and RKW Rhode Kellerman Wawrowsky studios were responsible for the project of this complex.

 

 


If you want to find out more, please click the link: https://www.immobelpoland.com/


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