S+B Gruppe: focused on Central Europe

In Warsaw - first a hotel, then...At the end of 2010, S+B Gruppe finished the construction of the Zebra Tower office building in Warsaw. A few months later, in February 2011, the building was sold for EUR 76 mln. The buyer was the Union Investment fund. In May, S+B Gruppe decided to take over the unfinished System hotel at ul. Wspólna 72, buying the property from Kraków-based developer Salwator. It changed hands for a mere PLN 5,000, but the acquisition also involved taking on the EUR 10 mln debts of the former owner. The 55m tower has an area of 12,500 sqm. Since then the company has been considering a number of different options for how best to utilise the building. There was talk about changing its function - from a hotel to an office building - and even about making it taller. However, the Austrian developer finally decided to go ahead with a project for which a building permit already existed. The planning stage has now come to an end, and, as representatives of the company have