Octava Property Trust’s portfolio now comprises more than 200,000 sqm of commercial space, around 70,000 sqm of which is retail. One of its key retail assets is Centrum Krakowska 61 in Warsaw’s Włochy district, which is awaiting changes. What kind of investment are you planning?
Henryk Rytwiński, COO, Octava Property Trust: Since 2013 the entire 11,000 sqm building of the former Praktiker DIY store has been waiting for redevelopment and re-leasing. We plan to convert it into premises for retail tenants. What tenants? Well, the selection has not finished yet. The building is structurally in a good technical condition, and its modification and adaptation for many tenants occupying smaller modules will entail a certain amount of investment. Furthermore, we have to make changes to the façade.
Who has designed these changes?
Pejot Studio, which is a small but reliable studio. We already have a building permit and the building should be completed next year.
This means that the construction work will start soon...
Yes, we hope that the work will start later this year or at the beginning of the next. This is a renovation project, so the construction work should take us about 5– 6 months.
Are you waiting to launch the advanced stage of the leasing?
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