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31 million euros for Le Palais

Warimpex completed the sale of Le Palais Offices in Warsaw. The investment cost 31 million euros.

As previously announced, Le Palais Offices building was sold by Warimpex company to IVG Warschau Funds. The transaction cost 31 million euros and was finalized in less than eight months from the completion and opening of an office building.

The historical significance of buildings on Próżna street and of the  entire environment meant that revitalization project was unique and full of challenges. Despite strict building preservation requirements, our team has done all the construction works in just one and a half year. Currently we have successfully managed to complete the final stage of this project - said Franz Jurkowitsch, CEO of Warimpex.

The building is located in the central business district of Warsaw, at the intersection of Próżna street and Grzybowski Square. Le Palais Offices offers 5300 square meters of class A office space and 1,300 square meters of space dedicated to retail and catering outlets. More than 85 per cent of office space in the building has already been commercialized, which means that for rent remained 600 sqm. of offices. All commercial premises on the ground floor are also rented.

The project completed by Warimpex assumed renovation and modernization of historic buildings, as well as the expansion of the complex through the construction of a new object. The developer worked closely with the building conservator office and the city authorities.

The building object has been repeatedly awarded. In January 2013 it received two CEE Quality Awards in the categories: "Best Office Development" and "Best Overall Development". What is more, the newspaper “Gazeta Prawna” has granted  Warimpex  the "Building of the Year" award for Le Palais investment.

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