The Warta Tower skyscraper will be redeveloped by its new owner, Cornerstone Investment Management. The investor has bought the landmark high-rise from Globalworth for €63 million. Work on the redevelopment of the Warta Tower skyscraper is expected to last until 2025. What will the skyscraper look like after reconstruction? We do not know yet, but according to the investor, the building is to be modernised to meet modern market needs, as well as to meet the highest quality standards
The Warta Tower skyscraper is one of the most recognisable buildings in Warsaw. The office building is located on Chmielna Street and offers a total of over 33,000 square metres of leasable space. The less than 100-metre-high skyscraper is distinguished by an interestingly designed lobby, the structure of which allows for any arrangement of space, and extensive glazing provides the interiors with excellent natural light. Nearly 560 parking spaces are available to tenants
“By finalising the transaction for the sale of the Warta Tower building, we have achieved another important goal in the implementation of our strategy. The axis of our business is to provide modern office space, in buildings that stand out from the competition and offer the best quality working environment. An important positive element worth highlighting is the sale above book value and the improved performance of the portfolio of properties remaining in the Group. The sale of such a prestigious building, in a top location in Warsaw, is a major success for us given the perturbations in the office market. At the same time, I am confident that the experienced team on the buyer’s side will carry out the redevelopment and re-commercialisation with great success,” – says Łukasz Duczkowski, Head of Investments and Special Projects at Globalworth Poland
The new owner ( Cornerstone Investment Management ) has announced that the Warta Tower skyscraper will be redeveloped to once again meet the highest market standards and offer modern workspace The modernisation works in the office building will last until 2025
“The solutions applied will meet the requirements of companies looking for new office space, will be cost-effective and also meet high sustainability standards by obtaining all the necessary certificates. The new tenants, who have already announced the relocation of their office to Warta Tower, are very curious about the applied solutions and ESG elements in the building. Early declarations from companies show that this project will be a very strong competitor in the office market,”– adds Przemysław Pikus, Partner at Cornerstone Investment Management
It is worth noting that Cornerstone Investment Management was founded by a Pole – Przemysław Krych in 2001 and today is one of the largest Polish investment funds with assets exceeding EUR 7 billion
source: press materials / Globalworth Poland
photos: Adrian Grycuk, Wikimedia.org, lic: CC BY-SA 3.0 en
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