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PZU to move to Generation Park

Opr./edited AKL 13 February 2020
PZU to move to Generation Park
Building Y of Generation Park will have 31 storeys and 44,000 sqm

POLAND PZU has announced that it has chosen building Y of Generation Park in Warsaw as the location of its new head office.

The insurance company will be moving into the building, which is still under construction, in Q2 2022, and plans to occupy the entire tower (around 44,000 sqm).

A letter of intent has been signed stipulating that the lease agreement should be finalised by May 29th, 2020 and setting out the preliminary terms regarding the office, retail and service space as well as the storage area and the parking spaces.

The total estimated gross value of the ten-year lease of the building would come to around PLN 805 mln, while additional costs related to the relocation would amount to around PLN 86 mln gross.

The current headquarters of PZU is located in the over twenty-year-old PZU Tower at al. Jana Pawła II 24 in central Warsaw. The building was initially intended to serve as a hotel, before being redesigned for office purposes. The PZU Group has yet to make a decide what to do with its current HQ. The plot the PZU Tower stands on does not have a local zoning plan, which is why PZU will be applying for a decision site development conditions in the near future, and once issued will then make a decision on the future of the building.

Generation Park is a complex of three office buildings developed by Skanska on Rondo Daszyńskiego in central Warsaw. The latest phases of the project comprise buildings X, Y and Z. The building to be occupied by PZU comprises more than 44,000 sqm on 31 floors. Building Y should be completed in 2021.

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