Focus, Warsaw
09 October 2007
Office Acquisition for DEGI
Location: Warsaw
Type: Office Acquisition
Size: 32,000m²
Price: €120m
Client: DEGI
The Focus Building offers a high quality design and good functionality of office space. The Property comprises of three underground levels and 10 upper office floors in blocks B and C, while blocks A and D offer 11 upper office floors. The total office and retail rentable area amounts to ca. 31,868 m2 out of which office space could be further increased by the addition of an add-on factor. The average floor to ceiling height is 2.75 m which is within the Warsaw market standard. The ground floor is higher than the rest and is 5.03 m high. The property provides 434 car parking spaces of which 406 are located on covered underground car parking facilities. Additional 108 surface car parking spaces are located at the plot which is currently leased until the end of October 2008 from Politechnika Warszawska.
The property was developed by Mostostal Export S.A. in 2000 and the property’s occupancy certificate was obtained on 11th December 2000. The Focus building is a property designed by one of Poland’s best known architects – Stefan Kurylowicz, and in general, contains a specification to institutional standards.
Focus Building was voted Best Building in Warsaw 2000-2001 in the “Life In Architecture” competition organized by Architektura-Murator Magazine.
Focus is constructed of reinforced concrete column foundations supporting concrete columns and floor slab structure. Staircases are constructed of reinforced concrete with ceilings of reinforced concrete slabs. The Property is divided into four separate blocks, each with integral vertical as well as installation shafts. For the fire zone division, each particular building is considered as an individual object. Four separate parts of the building are served by separate elevators. Blocks have common underground parking space and mechanical systems.
Typical floor in any office blocks offers approximately 750 m2. This can easily be divided among smaller tenants. Additionally, all four blocks, up to the sixth floor, could be connected and potentially offer 3,000 m2 floor layout.
The Focus Office Building is located in a centre with very good car access to the Central Business District and other Warsaw districts including Mokotow as well as Warsaw international airport. The anchor tenants include: Deutsche Bank, BRE Bank Hipoteczny, Inteligo, GlaxoSmithKlein Healthcare, Coca Cola, BMW. Total investment volume exceeded ˆ120million, initial yield was sub 5.75%.