Lincoln Property Company believes in the prospects of the Warsaw office market. The US group has partnered with Enern, a Czech investment group, to buy a 30,000 sqm development site in the heart of the Wola business district in Poland’s capital city.
It marks the first investment in Poland by Lincoln Property Group, which re-launched its European operations in 2016 and has offices in London and Prague. The group, which has €74.6 billion under management, focuses on investment and development opportunities across all real estate sectors in Europe.
The prime office development site was acquired from Penta Real Estate for around €25 million. When completed, it will be a modern, high-quality office building with supporting retail units on the ground floor, just 400 metres from the Rondo Daszyńskiego metro station.
“The project will benefit from a uniquely large and efficient floor plate of 4,000 sqm, our highest ESG commitment and will feature a full range of amenities and amazing public space which will support both tenants and the wider community”, said Štefan Puci, Investment Director at Lincoln Property Company.
“We are delighted to acquire together with our trusted partner, Enern, this prime office development site which is located within the new central business district of Warsaw and features exceptional transport links”, he said.
Lincoln and Enern have a long-established partnership. In 2018 they acquired a large historic office complex in Prague.
“We are very happy to partner again with Lincoln Property Company after our successful transaction in Prague”, said Petr Šmída, partner, Enern. “This time it is in Warsaw, in the field of development and, importantly, in an absolutely ideal location. At Enern we work for investor success, which I believe is based on global benchmarking, specific expertise and focused execution capabilities. Together I know we will deliver on this promise again.”