CBRE to sell mixed-use scheme in Warsaw

CBRE has been instructed by developers Liebrecht & Wood and BBI Development to sell Plac Unii, a 56,800 m2 office and retail scheme in Warsaw, Poland.

Plac Unii comprises three office buildings consisting of a 90-metre high skyscraper and two six-storey office buildings offering a total of 41,000 m2. The scheme will also provide a 15,500 m2 shopping area, called the City Gallery.

Designed by architects Kury³owicz and Associates, the complex opened in Q4 2013.

Mike Atwell, head of CEE capital markets at CBRE, noted that the year 2013 was one of the most active for commercial real estate investment in Poland since 2008. 'Plac Unii is an iconic building in Warsaw of unique and trophy character and viewed as one of the premier asset sales in the Warsaw investment market for which we anticipate strong interest from a select group of potential investors,' he added.

CBRE Office Agency will also act as an exclusive agent in leasing the remaining space in the office complex.

Liebrecht & Wood is a European real estate developer focusing on offices, retail parks and outlet centres located in major CEE and Russian cities.

BBI Development NFI is listed on the Warsaw stock exchange and focuses on investment properties located in Warsaw.

The companies launched construction of the scheme at Warsaw's Unii Lubelskiej Square in October 2010. The project, representing a total investment of PLN 500 mln (€126 mln), was financed with a €105 mln loan from Bank Pekao.