Ghelamco sells Polish office complex to Google for €583m
Ghelamco has sold the Warsaw Hub complex to Google Poland for €583m (£483m), in what is thought to be the largest-ever single offices transaction in Central and Eastern Europe.
Google has taken some 215,280 sq ft of office floorspace within the complex, as well as retail and services space. The online giant said it will invest nearly $700m (£533m) in its purchase and further development, which will include new collaboration spaces and inclusive meeting rooms for hybrid working.
Other tenants at the Warsaw Hub include Standard Chartered, Cushman & Wakefield, Getin Noble Bank, GATX, Atradius, Elanco, Oracle, Huuuge Games and OmniOffice. The hotel spaces will be taken by Crowne Plaza and Holiday Inn Express hotels, which Ghelamco will continue to own.
Ghelamco has sold the Warsaw Hub complex to Google Poland for €583m (£483m), in what is thought to be the largest-ever single offices transaction in Central and Eastern Europe.
Google has taken some 215,280 sq ft of office floorspace within the complex, as well as retail and services space. The online giant said it will invest nearly $700m (£533m) in its purchase and further development, which will include new collaboration spaces and inclusive meeting rooms for hybrid working.
Other tenants at the Warsaw Hub include Standard Chartered, Cushman & Wakefield, Getin Noble Bank, GATX, Atradius, Elanco, Oracle, Huuuge Games and OmniOffice. The hotel spaces will be taken by Crowne Plaza and Holiday Inn Express hotels, which Ghelamco will continue to own.
The sale comes weeks after Ghelamco officially launched its first London project, a 22-storey mixed-use hub in EC1 called the Arc.
Marie-Julie Gheysens, Ghelamco’s head of international business development for the UK, said: “Ghelamco’s goal is to create buildings that are sustainable and accessible to all, and that fit into the urban environment. This is exactly what the Warsaw Hub is. We are proud that Google Poland decided to have its headquarters there and at the same time bought this property.”
Sean Doyle, head of property investment at CBRE, which is advising Ghelamco on the deal alongside Cushman & Wakefield, said: “The sale of the Warsaw Hub, the largest single office transaction in the history of the Polish market, is further affirmation of the strength of the Polish office investment market.
“CBRE is hugely proud to have led such a landmark transaction between two of our most important clients, which firmly cements Warsaw’s position among the core investment markets globally.”
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Photo © Ghelamco
