Mokotów reborn?

In Q1 a total of EUR 65 mln was invested in the district – around two-thirds of the total for the whole of last year. Two transactions took place: the Helion and Luminar buildings (valued at around EUR 21 mln), acquired by White Stone Development from Deka Immobilien; and Graffit, which was bought by Zeus Capital Management from Hines Russia & Poland Fund (HRPF). These purchases came after a year-and-a-half without any major transactions in the Służewiec sub-district of Mokotów. In addition, four properties worth around EUR 140 mln are currently in the advanced sale process, while eight (worth EUR 325 mln) are currently being offered for sale. Avison Young expects that the total office investment turnover for 2019 will come to around EUR 350 mln. Yields remain stable, averaging at 7.25 pct – and relatively high, compared, for example, to central Warsaw, where the best properties are achieving yields as low as 4.3 pct. The yield gap between the city centre and Mokotó