West 4 Business Hub I, a modern A-Class office building of an area exceeding 15,500 sqm, was acquired by Solida Capital, an investment and development company. The project of Echo Investment, which obtained the occupancy permit last year, was sold for nearly EUR 40 million.
West 4 Business Hub office complex is a follow-up of West Gate and West Link office buildings that have already been built at Na Ostatnim Groszu street in WrocÅaw and were successfully leased and sold. The construction of West 4 Business Hub I was completed last year and the building welcomed its first tenants including Vorwerk, PM Group, CitySpace and Sii Polska ā one of the largest employers in the Polish IT industry.
The entire West 4 Business Hub will offer over 72,000 sqm of modern office space. West 4 Business Hub I was one of the first buildings where Echo Investment installed special anti-COVID systems improving the quality of air in the building that purifies the air, drawing on solutions naturally occurring in nature.
āThe Western part of WrocÅaw is constantly growing in importance due to great communication and perfect combination of office, residential and service functions. West 4 Business Hub, as a destination project, not only enjoys the perfect location in the flourishing part of the city but can also be distinguished by its sustainable solutions, comfortable working space and modern design. We are thrilled to start our cooperation with Solida Capital that appreciated the buildingās location as well as its long-term value and quality,ā says MichaÅ Obara, Investment Director responsible for divestments at Echo Investment.
MaÄkĆ³w Pracownia Projektowa is responsible for the design of the project. West 4 Business Hub I has a great tenant-mix and has been awarded BREEAM environmental certificate with an Excellent rating.
āWe are very happy to make this announcement, as itās our first transaction concluded in this asset class in Poland. This acquisition is in line with Solida Capitalās portfolio strategy in CEE region. We are targeting sustainable A-class buildings that meet high environmental and quality standards located in Warsaw and regional cities across Poland. West 4 building in WrocÅaw together with Echo Investmentās experience as a developer was therefore an excellent combination for our first step,ā says Jean Aboumrad, President of the Management Board at Solida Capital Europe.
Solida Capital is an investment and development company, covering the main European Real Estate markets with over EUR 250 million of assets under management. As part of the expansion strategy, it has recently opened an office in Warsaw with a dedicated team overseeing the development and investments in the region
CBRE and Dentons advised the seller, while BNP Paribas Real Estate Poland and Allen & Overy acted as the buyersā advisors on the deal. BNP Paribas Real Estate will also be responsible for property management of the building.
