Podium Park in the portfolio of Globalworth

20 grudnia 2019

Globalworth, the largest office investor in the CEE region, has completed the purchase of the Kraków-based Podium Park, one of the most modern and greenest office projects in Poland.

The acquisition of Podium Park worth approx. 134 million EUR constitutes the fifth acquisition made by Globalworth this year in Poland. Podium Park is a complex of three, interconnected 11-floor buildings with a total lease area of over 55,000 sqm, which as one of the few office projects has been recognized with BREEAM certificates at the highest possible level - Outstanding. The developer is Podium Investment Polska.

The first phase of Podium Park was delivered to use in 2018. The two remaining buildings remain under construction and the completion of works is scheduled for Q4 2020 and Q4 2021, respectively. Podium already became very popular among tenants in Kraków, especially companies representing IT and fintech sectors. One of the leaders of the fintech industry - the British Revolut (over 5,300 sqm) - launched its office in the first building. Ailleron, an IT company, will move into the second building in the upcoming year, occupying nearly 9,000 sqm. Further agreements with reputable tenants are being finalized.

The inclusion of Podium Park in our portfolio is another example of acquisition of an attractive and state-of-the-art projects under construction combined with maintaining of close cooperation with developers. When considering a project under development, whether in Warsaw or in regional cities, we assess its potential in terms of the possibility of developing a tenant community, its location, functionality and environmentally-friendly solutions. Podium Park not only meets these requirements, but is a true leader in terms of modern solutions aimed at the care for the natural environment and comfort of employees. The transaction with Podium Investment Polska is a very strong year-end for Globalworth. In 2019, we bought or secured with a preliminary agreement five office projects with a total target value of around EUR 590 million after completion of ongoing construction processes

– comments Łukasz Duczkowski, Head of Investments at Globalworth in Poland.

In the case of Podium Park, from the very beginning we wanted our project to constitute not only a comfortable and friendly place to work, but also an office building that will set standards in terms of environmental care. Podium was recognized with two BREEAM certificates at the highest level - Outstanding, both at the Interim and Fully Fitted stages. It is really rare on the Polish office market. We are pleased with the fact that Podium Park has gained Globalworth's interest and is included in the portfolio of the largest office investor in the country. This is the best confirmation of the top-tier quality of our project

– asserts Wojciech Dobrzański, President of the Management Board at Podium Investment Polska.

Podium Park will provide approx. 800 parking spaces for tenants and their guests. An important element of the investment will be a green space, filled with vegetation and conducive to relaxation in the fresh air, with an area of 5,000 sqm. Office workers and their guests will also be able to rent electric cars, bicycles and scooters, as well as use the extensive cycling infrastructure. Podium Park is also distinguished by its excellent location at the junction of Jana Pawła II Avenue and Izydora Stella-Sawickiego Street, in a dynamically developing district of the city, in the vicinity of the Kraków University of Technology and numerous public transport stops.

Podium Park will be the most electromobile-friendly office complex in Poland. Green courtyards have been developed between the buildings, which serve as common spaces with roofed bicycle parking racks as well as a unique urban farming zone dedicated to tenants. The highest level of thermal comfort will be provided by the external elevation of the building, which was designed in accordance with the technical conditions and standards in force since 2021.

During the sales process, Globalworth was advised by Avison Young and KPMG, while Podium Investment was advised by BNP Paribas. Legal advisers for the transaction were GT for the purchaser and Dentons and Kancelaria Adwokacka Marcin Imiołek for the seller.