There is a new investment opportunity in Warsaw. Capital city councillors have agreed to sell a property located in Wola, close to the city centre. The attractive plot of land could become the site for a modern, 90-metre-high skyscraper. The city wants to sell the land for no less than PLN 50 million.
The 1,400-square-metre property is located on the corner of Grzybowska and Waliców streets. The neighbourhood is already developed with numerous buildings, including the Za Żelazną Bramą housing estate, the Ibis Styles hotel, land acquired by the Puro hotel chain, a residential building with an incorporated former wall of the Warsaw ghetto and a historic tenement house at 14 Waliców Street. The historic building features the largest mural in Warsaw by Wiktor Malinowski. It depicts a red balloon with the inscription ‘KAMIEŃ I CO’ and is meant to remind us of the disappearing buildings of pre-war Warsaw. We wrote about the building HERE.
An attractive plot of land in the centre. Photo: Google Maps
The asset of the plot is its inclusion in the local zoning plan, which significantly shortens the administrative procedures for obtaining a building permit. The plan allows for intensive use of the land. The future owner will be able to build a building up to 50 metres high, with the possibility of increasing its height to 90 metres only at the corner of Grzybowska and Waliców streets. The development could be either commercial or residential. It is worth noting that in the close vicinity of the plot, the Matexi company is developing the Żelazna 54 flat project. The prices of flats in this location reach PLN 40,000 per square metre, which indicates the potential high value of the future investment.
Neither the date of the tender nor the rules under which it will be held are yet known. Incidentally, the question arises: is the investment in the vicinity of the historic tenement house at 14 Waliców Street and its neighbours likely to affect their renovation? Or, on the contrary, does it pose a threat to the buildings that survived the war?
Source: urbanity.pl, propertynews.pl
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