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New Work in retro building

Opr./edited TSG 08 February 2019
New Work in retro building
Retro Wola should be ready in Q2

POLAND Hungarian serviced offices operator New Work has doubled the space it will occupy in the Wola Retro office building, which is under construction in Warsaw’s Wola district. The company has also announced that it is planning other openings in Warsaw and across the CEE region.

New Work initially leased 2,000 sqm in the office building in October 2018, but has now decided to increase this to 4,000 sqm with 360 workplaces and extensive conference facilities. The transaction was carried out with the help of the Biuro na Miarę agency.

“Our recent decisions confirm that the scale of our involvement in Warsaw is growing. We currently operate on 16,000 sqm of office space in six different locations. However, this is not the end of our expansion plans. By the end of 2019 we intend to be leasing around 30,000 sqm in at least ten locations in Warsaw alone,” declared Hubert Abt, the CEO of New Work Offices. “Apart from Poland, we also operate in four other countries: Hungary, Romania, Ukraine and the Czech Republic. By the end of 2019 our portfolio should comprise fifty locations across the CEE region, 15 of which will be in Poland,” he added.

Wola Retro, which is being developed by LC Corp, will consist of three buildings – two new ones with nine and fourteen storeys as well as a third pre-war of building designed by Bohdan Lachert and Józef Szanajca of the Praesens architectural group. The Kuryłowicz & Associates studio is responsible for the design of the existing building’s refurbishment and the design of the new buildings.

Wola Retro will comprise more than 24,000 sqm, as well as 300 parking spaces on two underground levels. As a result of the latest transaction, the project is now 58 pct leased. Cushman & Wakefield is the exclusive leasing agent for the project, which should be ready for its tenants in Q2.

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