A flat with an unusual 600-square-metre footprint has been sold in Warsaw’s Noho One complex. The transaction price for the property was PLN 30 million, the highest confirmed amount in the history of the domestic residential market. The project’s investor is Noho Investment, controlled by one of the companies owned by Sebastian Kulczyk.
The complex of buildings is being constructed on the site of the former Polfa factory (we wrote about it HERE) and is to serve as a multifunctional residential and commercial complex. The offer is aimed at clients looking for properties of the highest standard. The developer announced in April that half of the available flats had already found buyers. Now it has announced the finalisation of one of the most prestigious sales within the development, a 600-square-metre flat for PLN 30 million. In addition to the investment in Warsaw, Noho is also developing similar projects in Krakow and Katowice, and the construction of another building in Wrocław is planned to start soon.
BBGK Architekci studio is responsible for the architectural concept of Noho One. The authors of the project considered the main challenge to be creating a space that would be user-friendly and at the same time reflect the unique, metropolitan character of this part of the city. The team of architects distinguished three functional levels in the urban structure. The first of these is located at street level. In an area of five hectares, a frontage system has been planned to form a natural extension of the grid of the neighbouring streets. The newly delineated thoroughfares are designed as urban passages with trees, squares and retail and service establishments. The street space is shaped, among other things, by high entrance portals and glass storefronts, which are intended to encourage an active urban fabric. The floors will house flats in the form of modern urban townhouses. The uppermost layer of the development will be penthouses equipped with cascading terraces with vegetation, creating a complex composition of roof gardens.
Three buildings of varying heights, gradually increasing towards the centre, have been planned along Prosta Street. Their form is intended to emphasise the representative character of this part of the city. The development will have a modern, dynamic expression, with details referring to classical architecture, such as rounded columns and cornices. Noble materials will be used, including high-quality precast concrete elements and natural stone. The ground floors of the buildings will provide spaces for catering and retail, while the upper floors will house flats.
According to “Puls Biznesu”, Kulczyk Investments is planning to launch an investment fund in the autumn, which is to be fed with both the owner’s capital and funds from external investors, including private equity and family office funds. Initially, the funds will be invested in warehouse and residential projects, but in the long run, other market segments are also considered, including those outside the country. Interest in property in the ultra-premium segment has increased significantly in recent years. The highest prices are reached by flats in Warsaw and in well-known resorts such as Świnoujście, Sopot or Zakopane. Rates there can reach up to PLN 100,000 per square metre, especially in the case of properties with a large area and an exceptional standard of finish. The most exclusive offers are often sold outside the official market circulation.
Source: money.pl, pulsbiznesu.pl
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