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Google to pay Ghelamco over €580m for Warsaw HQ office

Ghelamco Poland has agreed the sale of the majority of its 113,000 sq m mixed-use scheme, The Warsaw Hub, to tech giant Google for about €583 million.

Google, which has been present in Poland for 15 years, is already one of the main tenants in the building and currently occupies 20,000 sq m. The company said it plans to spend a total of $700 million (c€642 million) buying and adapting the building. The company currently has about 1,000 employees in Warsaw but will now have capacity for 2,500.

Other tenants include, Standard Chartered, Cushman & Wakefield, Getin Noble Bank, GATX, Atradius, Elanco, Oracle, Huuuge Games and OmniOffice.

The complex, located at Daszyńskiego Roundabout, comprises three buildings linked by a five-storey podium. There are two 130-metre-high office towers and an 86-metre-high hotel building. Google has acquired the office buildings together with a retail and service mall and an underground area. The Crowne Plaza and Holiday Inn Express hotels will be retained by Ghelamco

Ghelamco, which was advised by CBRE, said the transaction value will be determined on the day of signing the final agreement and but is expected to be close to €583 million.

 “Our goal is to create buildings that are sustainable , accessible to all, and that fit into the urban environment. This is exactly what The Warsaw HUB is,” said Ghelamco managing director CEE Jeroen van der Toolen.

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