HB Reavis remains among Poland’s top real estate developers
Growing demand for offices tailored to employees’ needs, the handover of the second West Station office building, construction milestones at Varso Place and the introduction of new business lines — it was a busy year for the Polish branch of the real estate developer HB Reavis. Over the last 12 months, tenants of Gdanski Business Center, West Station and Postepu 14 leased more than 52,000 sq m in those buildings.
In 2017, the HB Reavis office in Warsaw obtained as many as 38 new clients. The total floor area leased was nearly 10,000 sq m more compared to the previous year when the company outperformed all the other real estate developers operating in the Warsaw office market.
“Over the ten years of its presence in Warsaw, HB Reavis has accumulated a wealth of experience. Our buildings combine the quality of architecture and delivery, innovation and attention to the health and well-being of their users. We are proud that we can work with such a wide range of clients, making sure that their dream offices become a reality,” says Karol Wyka, Country Leasing Director at HB Reavis Poland.
Tenants stand up for easy commuting
In the period under analysis, the most popular development was West Station, located next to the Warszawa Zachodnia railway station, where HB Reavis signed lease agreements for approximately 33,400 sq m of office and retail space. The project was completed in August with the handover of the second building which was recognised as the Best Office Development in Poland in several major industry competitions, Eurobuild Awards, CIJ Awards and Prime Property Prize. One of Warsaw’s most accessible business hubs has welcomed or will soon welcome companies such as Diebold Nixdorf (over 11,000 sq m), eTravel, Merck and Marquard Media.
HB Reavis clients also hold Gdanski Business Center in high regard, located in the northern fringe of the Warsaw district of Śródmieście, next to the Dworzec Gdanski metro station. In 2017, more than 11,000 sq m of the office scheme was leased by companies including Euronet and DLL, as well as public institutions like the Court of Appeal for Warsaw.
In addition, Postepu 14, a building located in the Warsaw Mokotów commercial area, saw the finalisation of one of last year’s largest expansions of a single tenant. The pharmaceutical company AstraZeneca renewed its lease for almost 7,000 sq m and leased an additional over 6,000 sq m of space.
Activity based and flexible workplaces on the rise
The high-tech growth is transforming the way in which both start-ups and large corporations operate, driving the demand for coworking spaces – a trend perfectly visible on the Warsaw market in recent months. In addition, traditional offices increasingly resemble coworking spaces with chill-out zones and activity based workplace solutions.
“We want to be at the forefront of changes in the real estate market, not only creating friendly, popular buildings but also providing services that go beyond the expertise of a typical developer. In 2017, we successfully launched Origameo, our in-house consulting team specialising in workplace solutions. We also opened HubHub, a co-working centre and event space at Postepu 14, which is increasingly attracting interest among young entrepreneurs,” says Grzegorz Strutyński, Commercial Director and Board Member at HB Reavis Poland.
Varso Place is going WELL
According to schedule, the largest construction site in the Warsaw city centre saw works continue on the below grade part of all three buildings, including a 310-metre tower designed by Foster + Partners. Construction will reach ground level in a few months with the completion date scheduled for 2019-2020.
When completed, Varso Place will provide 144,500 sq m of office and retail space. As the first development in Europe, it can already boast a WELL Precertificate, which attests to the fact that with careful planning and advanced technologies, it will be a place conducive to the health and well-being of its future users.
HB Reavis’ achievements in 2017 have won the company numerous accolades in the real estate and construction industries. The company was named the Office Developer of the Year by several judge panels, including at Europaproperty CEE Investment & Green Building Awards, CIJ Awards and Eurobuild Awards.