Already 40 percent of the entire area of the former Norblin Factory has been leased. There are more and more tenants interested in the offices, shops and entertainment part of this historic building complex. This is one of the largest properties in Poland and one of the most interesting in terms of architecture and design. The former Norblin Factory is the flagship investment of Capital Park Group.
“An occupancy rate of 40 percent, two years before the planned completion of the project, is a great success for us and confirmation of the highest quality of the multi-functional space, which the former Norblin factory will offer to its future tenants,” says Jan Motz, the Founder and President of the Capital Park Group.
The former Norblin Facory has already had full financing. Credit financing granted to the project by Pekao SA Bank (in the amount of 99.3 million Euro) and by the European Investment Bank (60 million Euro) together with its own funds of Capital Park Group, the project investor, will fully cover the costs of the construction.
“The trust shown to us by the two significant banking partners, together with launching the credit lines, provides stability for the investment whose progress is now in full swing. Each month the project is taking shape and in the middle of 2021 it will become an added value to the city urban space,” adds Kinga Nowakowska, Operational Director and the Management Board Member in Capital Park Group.
As a part of the revitalization of the two-hectare area of the historic: ‘Norblin, Bracia Buch i T. Werner’ plant in the Warsaw Wola District, a commercial area of over 66,000 m2 will be created. The office area will cover 40,000 m2, out of which over 11,000 m2 have been already leased.
Among the future tenants of the project there are such companies as:
- rent24 (4,000m2) – a new co-working and co-living concept on the Polish market, City Office (1,800m2)
- a serviced office operator,
- a conference center (1,600m2),
- General Property operating in the facility management sector (500m2)
- Usecrypt (iMe) – a company providing IT support services (560m2).
Over 26,000m2 of the area will be turned into the space for commercial, service, entertainment, cultural and gastronomic activities, out of which over 12,000 m2 have already been leased.
This area will comprise:
- OH KINO – a boutique cinema theater (3,300m2),
- BioBazar – the first Polish market with organic, certified food (1,800m2), a food hall with over 20 restaurant concepts (3,200 m2),
- Piano Bar with live music (408 m2),
- Wiśniewski – a cherry vodka bar and a shop (40.37m2), as well as restaurants:
- Weranda (387m2), Soul Food (283m2) and The Garden, located on the 9th floor overlooking the center of Warsaw (631m2).
- The underground four-storey car park will provide 750 parking places for cars, as well as 200 dedicated parking spaces for bicycles.
Capital Park Group is one of the biggest real estate companies in Poland and listed on the Warsaw Stock Exchange. For three months the firm has belonged to an American company – Madison International Realty (www.madisonint.com). Madison International Realty is a global real estate investor which is a leading liquidity provider to real estate investors worldwide.
Source of information: Capital Park Group