Globalworth, leading real estate investment company in Central and Eastern Europe (CEE), has completed the acquisition of West Link office building in Wrocław (Poland) for EUR35.8 million.
“This acquisition further consolidates our position as the leading office landlord in the CEE region through our core markets of Poland and Romania and expands our partnership with another multinational company. Moreover, since we bought into Poland in December 2017, with the recent acquisitions and the ones which are under negotiation, we are on course to have doubled the size of our portfolio in the past year. This expansion allows us to offer more high quality and modern office space to the broad range of tenants active in the region, who seek excellent workspaces for their employees. The new acquisition follows our successful corporate bond issue of EUR550 million in May, which was also listed on the Bucharest Stock Exchange, which supports our growth”, stated Dimitris Raptis, Deputy CEO and Chief Investment Officer Globalworth.
West Link is a high-quality office building of 14,400 sqm located in city centre of Wrocław and is well situated on key communication arteries. The building of six floors of Class “A” spaces was recently completed and is fully leased to Nokia Solutions & Network, which is also the main tenant in West Gate, an adjacent high-quality office property which comprises a further 16,600 sqm. West Link offers over 260 parking spaces.
In 2017, Globalworth expanded into Poland, after the acquisition of a majority shareholding of Griffin Premium RE.. N.V. (“GPRE”), a pure-play Polish real estate company, listed on the Warsaw Stock Exchange. GPRE has since been renamed Globalworth Poland. The portfolio in Poland now comprises 14 office and mixed-use (office and retail) properties in Warsaw, Wrocław, Łódź, Kraków, Katowice and Gdańsk, with a gross leasable area of 285,000 sqm.
In addition to the acquisitions in Poland, Globalworth bought two land plots in the Northern part of Bucharest in February where two new projects will be developed. One of the projects is located adjacent to the Green Court complex and will meet the standards of the three existing buildings, both architecturally and in terms of quality and energy efficiency. The other one, Globalworth Square, will be completed in H1 2020 and will offer to its tenants workspaces at the highest standards of quality and energy efficiency, with amenities such as a lounge in the lobby, smart screens displaying real-time data, Natural Light System and an app allowing them to enjoy facilities using their phone.
Both projects are located in one of the most sought-after business and leisure destinations of the city, in an area that accommodates a large number of restaurants, coffee shops, fitness clubs, schools, kindergartens and supermarkets. Moreover, the buildings will benefit of excellent access to the public transportation network, with bus stations in front of them and Aurel Vlaicu Metro Station just 250m away.
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the leading office investor in the Romanian real estate market and now has established a significant platform in Poland, through a 72% shareholding in Globalworth Poland, a pure-play Polish real estate platform listed on the Warsaw Stock Exchange. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, through which it benefits from a strong rental income profile from high quality tenants from around the globe. Managed by approximately 110 professionals across Romania and Poland, the combined value of its portfolio is €1.9 billion, of which over 90% is in income-producing assets, predominately in the office sector, and leased to some 440 national and multinational corporates from 28 countries and 37 different sectors. In Romania, Globalworth is present in Bucharest, Timisoara and Pitesti, whilst assets in Poland span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. For more information, please refer to http://www.globalworth.com/.