PL

POLAND Cuprum Square project in Wrocław up for sale

Office & mixed-use development
KGHM VII FIZAN has put up for sale the Cuprum Square office project together with its plot on pl. Jana Pawła II in central Wrocław.

The 0.97 ha site, at the junction of ul. Legnicka and ul. Podwale, is partially held in perpetual usufruct and partially in freehold by an SPV company owned by the seller. A building permit for the development of the two-building office complex totalling app. 32,500 sqm gla (with the potential to be increased to almost 36,000 sqm) is to be transferred as part of the transaction. Building A of the complex will have seven floors and 10,315.8 sqm gla, while building B will have eight floors and 21,502 sqm gla. The lower floors of the buildings may be used as commercial and service space. The complex is to be LEED ‘Gold’ certified. The design of the project is by Medusa Group.

The owner is being exclusively represented in the sale of the property by Colliers International. The offer will last until August 31st 2020, with tender bidders required to submit a guarantee of PLN 1 mln.

The plot is located in the very centre of the city, where it is extremely difficult to find land for commercial development today. Wrocław is the second regional city after Kraków where the supply of modern office space has exceeded 1 mln sqm and it is still growing due to the high tenant activity. Taking into account these factors, it can be concluded that the area owned by KGHM VII FIZAN is currently the most sought after in the city. We expect this sale to be one of the most important transactions of 2020 in Wrocław.
Emil Domeracki, the director of investment land services at Colliers International

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