Older buildings attractive for developers

"Older buildings have outdated functions, different technical installations, and often have high level of vacancy, but they also represent significant opportunities and huge potential," says Bartłomiej Uszkur, senior consultant at the investment department of Savills.
"In such cases, the location is crucial. Another important thing is what we can do with such a property. The important factors here are: the zoning plan, the condition of the building, and what new functions we are planning to give it," says Bartłomiej Uszkur.

"Investors are generally looking for rates of return of about 20–30 pct, which is higher than for other kinds of project, as the risk is higher and so a good bonus is the least they expect," adds Bartłomiej Uszkur.