POLAND KGAL seals Fuzja deal

The three-building complex, which is scheduled for completion in Q2 2022, contains 22,000 sqm of leasable space as well as 150 underground parking spaces and 139 parking spaces in a multi-storey car park. It is BREEAM ‘Excellent’ certified. The preliminary agreement for the sale of the building was signed in January.

All the necessary ingredients for the continued evolution of the city into a modern and prosperous business location not far from Warsaw are in place in Łódź. If this dynamic unfolds as we anticipate, rising rents and yield compression can be expected. We therefore envisage good prospects for a significant increase in value over the next few years.
André Zücker, the managing director and head of real estate of KGAL IM

KGAL IM was supported by Savills (commercial advisory), BNP Paribas Real Estate (technical appraisal), DLA Piper (legal advice) and Nomos (tax advice) for this transaction, while Colliers, Allen & Overy and Baker McKenzie were Echo Investment’s advisors.

Fuzja is being developed on the 8 ha site of the former Scheibler cotton mill on ul. Tymienieckiego. It will comprise apartments, app. 40,000 sqm of offices, shops and services as well as almost 4 ha of green space. The architectural design of the revitalisation project is by Medusa Group.

Last KGAL acquired another office property in Poland from Echo Investment – Villa Offices (Biura przy Willi) in the Warsaw Brewery (Browary Warszawskie) revitalisation project.