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edition 1 (217)
January 2017
Office & mixed-use development

Two projects and many leases for Vastint

Two projects and many leases for Vastint
The first stage of Business Garden is now complete

POLAND In November 2016, Vastint Poland completed the construction of the first phase of the Business Garden office complex on ul. Legnicka in Wrocław and now the first stage has been issued with an occupancy permit.

In this initial phase, three office buildings and a pavilion restaurant surrounded by a garden have been constructed. In total, close to 37,000 sqm of leasable space is now ready out of the 110,000 sqm planned. The H-shaped, six-storey office buildings are constructed over a common underground car park. The leasable area of the first building is 10,700 sqm. The other two, which are joined by a connector, together comprise 25,900 sqm. The garden in which the buildings are set features relaxation, sports and work zones with Wi-Fi access. The developer is aiming for the three buildings to obtain LEED ‘Platinum’ certification. “The first tenants will move into the complex in the spring. [...] The interest from potential customers, both those already present in Wrocław, as well as those considering entering the city, confirms that the decision to rapidly move on to the implementation of the next phase of the project at the beginning of 2017 was correct. We are planning three more office buildings, including the highest building in the complex with a height of 55m,” commented Roger Andersson, the managing director of Vastint Poland.

Here come the tenants

One of the first tenants in the complex is medical technology company Becton Dickinson, which has leased 5,600 sqm of office space to consolidate its shared services operations in the city. The company, which was founded in 1897, will move to its new premises in April 2017. JLL represented Becton Dickinson in choosing the location and during the lease negotiations. Sudheer Kaavil Valappil, the site director for Becton Dickinson in Wroclaw, commented on the move: “In line with our global standards, we will consolidate our Wrocław based shared services locations to Business Garden to meet our growing business needs. Since the opening of our centre in Wroclaw in 2012, the site has evolved into a strategic enabler for BD by enhancing the service experience for our customers, suppliers and employees supported from this centre. This move will further enable our vision to be a technology enabled world-class shared services centre providing an inviting workplace for our employees.” Another tenant in the same development is online comparison site Ceneo, which has leased 2,200 sqm. The tenant, which claims to be the second largest ecommerce site in Poland, is to move into the property in March 2017. This was the third lease to be announced for Business Garden. “Other lettings will be announced very soon,” says the managing director of Vastint Poland. Ceneo was represented by Savills during the negotiations. Acturis, an IT solutions provider for the insurance industry, has also leased 1,000 sqm in the first stage of the project. The company is active in over 40 countries and is currently rapidly expanding outside its home UK market. The developer, however is not resting on its laurels and has signed a preliminary agreement for the purchase of a 0.9 ha plot on ul. Piotra Skargi in Katowice – the site of the former Silesia hotel, which closed in 2006. Vastint plans to demolish the building to construct hotel and office buildings. “We have agreed pre-purchase conditions with the private owner of the land. We expect the transaction to close by the end of 2017. This is the first location that Vastint is to buy in Katowice, but I hope that there will be more such deals. We are interested in purchasing more land in the city, which will allow us to strengthen our position on the local market,” commented Roger Andersson. Construction work is expected to start in 2018. Vastint has been active on the Polish market since 1992. The company has a portfolio that includes various commercial real estate properties: office buildings, business parks and hotels. In the future, the company is also intending to move into the residential market.

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