Belgian developer Immobel has sold the Cedet building in central Warsaw to a fund managed by GLL Partners on behalf of Korean investors for €129.5 million ($147.1 million).
The Cedet building is ideally situated in central Warsaw, in the very heart of the central business district and the commercial area of the city, with abundant transport access and amenities. Immobel Poland completed three years of restoration to the building.
The new complex, measuring more than 22,000 square meters (236,806 square feet) is split between more than 15,000 square meters (161,458 square feet) of office space and 7,000 square meters (75,347 square feet) of commercial space. The entire office space was let even before the building was delivered in July 2018.
Warsaw’s real estate market is particularly attractive because its GDP grew by 4.6 percent in 2018, more than double the figure for Europe as a whole. Furthermore, European cities and regions of the future ranks Poland’
