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H + starts from Bydgoszcz

Opr./edited TC 20 September 2019
H + starts from Bydgoszcz
POLAND Hunger Development has raised PLN 23 mln for the renovation of two office buildings in Bydgoszcz, which ar to be the first two office buildings of the H+ chain.
H + City will have a leasable area of ​​3,800 sqm. It was built in 1993 for Bank Handlowy. Hunger Development purchased the property in December 2017 and it is currently leased. Meanwhile the H + Danhouse building was delivered in 2009 as the first stage of the Scanpark Business Center. The office building with ​​6,700 sqm of leasable area is near the Galeria Pomorska shopping centre.

“Our goal is to deliver a high standard of space at an affordable price,” declares Oskar Hunger, the CEO of Hunger Development. “We plan to create a new H + office brand. Hotel chains use a business model, which is to develop many buildings under the same brand. The H+ brand will also be extended to the second stage of the Scanpark Business Center complex, which will comprise 16,000 sqm. The H+ Danhouse office building, the first stage of Scanpark, is already 100-pct leased,” he adds.

“The success of this deal shows the huge potential that lies dormant in the commercial real estate market beyond the so-called big five Polish cities of Warsaw, Kraków, Wrocław, Poznań and the Tri-City,” argues Iwona Załuska from Upper Finance, who advised Hunger Development on the transaction.

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