Avestus Capital Partners is pleased to announce that it has recently acquired a prime 1.5 hectare office site in the Widzew district of Central Lodz, Poland.
Located 135 miles south west of Warsaw, Lodz is the third largest city in Poland and this acquisition represents a further expansion of our office development programme in key Polish cities. This development will be similar in concept to the Enterprise Park scheme in Krakow which is anchored by Cisco, Delpi and Aon Hewitt and comprises 4 completed office buildings providing 36,000 sqm of accommodation and 2 further buildings providing an additional 26,000 sqm under construction.
The site occupies a landmark corner location on a main junction adjacent to the commercial hub of Lodz. The site is also located within the Special Economic Zone which provides attractive tax incentives for occupiers. Permitting for the development of 16,000 square metre of Grade A office space is underway and we anticipate being on site in Q2 2017, with delivery of the building scheduled for Q4 2018. Demand for office space in Lodz has increased as the city has become more popular as a location for Business Process Outsourcing, with multinational companies increasingly attracted by the availability of a well-educated work force and a business friendly local government.
Avestus Real Estate (Poland) is providing development management services throughout the life of the project.