Polnord signed preliminary agreements to buy two investment properties located at ul. Lazurowa area in Warsaw's Bemowo district.
Polnord signed preliminary agreements to buy two investment properties located at ul. Lazurowa area in Warsaw’s Bemowo district. Total area of the properties, at 13,329 sqm, is large enough to build a multi-family building complex together with underground parking spaces with a total usable area of c. 16,815 sqm. The company is planning to build 258 residential units and 276 parking spaces as part of the project.
- We have sufficient landbank to build c. 300,000 sqm of usable area. In spite of that, we continue to actively seek new investment properties. We are interested in plots at attractive locations in the biggest Polish cities, particularly Warsaw and the Tri-City. We assumed that on average we will be spending c. PLN 10m per quarter to purchase properties to rebuild our landbank, says Dariusz Krawczyk, the CEO of Polnord SA.
The properties subject to today’s agreements are located in the area of renovated ul. Lazurowa street, in one of the fastest growing parts of the popular Warsaw district of Bemowo. The area already boasts excellent connections with the rest of the city thanks to the closeness of the Warsaw ring road and ul. Lazurowa, expanded in both directions into a two-lane road. Additionally, within the next few years, a westward extension of the second subway line is planned, including the Lazurowa station which will be built nearby. Thanks to this development, a trip to downtown core of Warsaw, even during the rush hour, will only take several minutes.
Last year, Polnord group has contracted the sale of 1,389 apartments and begun marketing 1,595 residential units. These figures represented the best results in Polnord’s over 40-year history. This year the company is planning to put on sale 1,727 units as part of 13 projects in the biggest Polish cities.