Globalworth executes double Polish deal for €170m

AIM-listed property firm Globalworth has acquired the Warsaw Trade Tower for €133 mln and the Rondo Business Park in Krakow for €37 mln as it continues its ambitious acquisitions strategy in Poland.

The Poland- and Romania-focused investment firm said that the latest deals pushed its Polish portfolio to almost 500,000 m2 of GLA in office and mixed-use properties.

'We are delighted to add Warsaw Trade Tower, a prominent landmark office tower, to our Polish portfolio, offering an attractive yield and a range of asset management opportunities,' said Dimitris Raptis, deputy CEO and CIO of Globalworth group and CEO of Globalworth Poland.

Raptis added: 'The acquisition of Rondo Business Park in Krakow has sound strategic rationale, being located alongside our Quattro Business Park and creating management synergies through an enlarged footprint.

'We are very pleased to be increasing our office presence in Krakow to over 100,000 m2, given the backdrop of strong occupier demand arising from its position as the largest business services centre in Poland and one of the largest in Europe.'

Raptis was announced as Globalworth's interim CEO for Poland in December, when he signalled plans to continue with an acquisitions strategy in Poland which has made the firm the leading owner of offices in the country.

Warsaw Trade Tower, a 38-storey tower located in the Wola district of Warsaw’s extended CBD, is one of the tallest skyscrapers in the capital, comprising a gross leasable area of 45,400 m2. AXA is the largest tenant alongside other international companies including American Express, Leroy-Merlin and Mattel.

Rondo Business Park, located in the northern part of Krakow, offers a gross leasable area of almost 17,800 m2 across three buildings. Tenants include global consulting firm Capgemini.


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