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The Warsaw Voice » Real Estate » September 16, 2009
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The Real Estate in brief
September 16, 2009   
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People: Colliers Promotes Hadley Dean
Hadley Dean has been appointed the managing partner for Central and Eastern Europe at the Colliers International real estate consulting company. In his new role, Dean will be responsible for regional client engagement strategy and cross-border initiatives for countries in the region. He will remain the company's managing partner for Poland and will be in charge of Colliers International offices in the Czech Republic, Slovakia, Hungary, Romania and Ukraine.

Dean has been involved in the real estate market for 13 years. He launched his career in London and in 1999 he moved to Prague to build and lead an agency team. In 2000, he moved to Poland and has since been developing Colliers International operations. Hadley holds degrees in business and property valuation and management from Newcastle University BSC Hons and Sheffield Hallam University.

Residential Market: Sokratesa Housing Estate Ready for Occupancy
Residents are moving into apartments in the newly completed Sokratesa Housing Estate, which consists of four six- and seven-story buildings at 5 Sokratesa St. in the Bielany district of Warsaw. The estate is located near the Bielański and Młociński forests.

The Sokratesa estate comprises 190 apartments ranging from 31 to 108 square meters in size, complete with 199 parking spaces. Ground-floor apartments have small yards. The area is guarded, fenced and under camera surveillance.

Prices start from zl.7,200 per sq m. Parking places cost zl.30,500 each, but buying one is not obligatory. International developer Volumetric MK Polska is the investor in the project.

Residential Market: Homes By Golf Course
Construction work marking phase one of the Sobienie Królewskie Golf & Country Club project is under way in Sobienie Szlacheckie around 30 km from Warsaw.

For now, a show home is available for viewing. It is one of nine houses that will be built in the vicinity of the golf course. In total, the housing estate will consist of 83 single-family houses.

The show home has a floor area of 158.23 sq m on the ground floor and it also has an attic. It can be used both as a summer house and a place of permanent residence.

On the ground floor, there is a kitchen, a restroom for guests, a living and dining room and two bedrooms, each with a bathroom and a dressing room. The living room opens to a 32-sq-m terrace. In the attic, there is a 19-sq-m bedroom with a bathroom and an open space of 28 sq m which can be adapted to serve as a library or a study room.

The show home stands on a lot of 802 sq m. The driveway and the paths around the house are paved. A roofed parking place is available next to the house. The plot is fenced and has a watering and lighting system. All utilities have been connected to the property.

The first construction phase, scheduled for completion in the fourth quarter of next year, comprises nine houses, eight like the show home and one with 170.96 sq m on the ground floor. The net prices of the houses that will go on sale first range from zl.950,000 to zl.1.5 million.

The Sobienie Królewskie Golf & Country Club complex will also feature an 18-hole master-class golf course, a Golf Academy with a driving range, a Club House, tennis courts, a stable, and a hotel with a spa center.

Profits Plunge for Dom Development
Dom Development SA, one of the largest housing developers in Poland, posted a net profit of zl.64.2 million on zl.382.6 million sales revenues in the first half of this year. This is half the amount the company reported in the first half of last year, when Dom Development's net profit totaled zl.133.9 million. In the first half of this year, Dom Development sold 262 apartments and delivered 868 new housing units.

Dom Development has adopted a new strategy to weather the crisis, cutting spending on land and construction work to just zl.2.2 million in the first half of this year. Dom Development has not started any new residential projects over the past 12 months.

Warehouses & Industrial Market: Panattoni Building for Farmacol
Developer Panattoni Europe will build a 5,000 sq m distribution center for pharmaceutical company Farmacol in Żerniki near Poznań in western Poland.

The contract between Panattoni Europe and Farmacol is an example of a "fee development" project as part of which the developer is building the distribution center on a plot of land owned by Farmacol and using Farmacol's funds. Panattoni Europe previously built the Panattoni Park Poznań II distribution center at Żerniki.

The Farmacol facility will offer 5,400 sq m of space, including 800 sq m of offices and staff rooms which Farmacol will use as a distribution center for the Wielkopolska region. The construction project is scheduled to begin in early October. The building was designed by architectural studio Ferma Kresek, and the Goldbeck company is the general contractor for the project.

EVENTS: Atlas Moves Into Millennium Plaza
The Atlas Management Company, which manages the real estate portfolio of Atlas Estates Limited in Poland, will move into the Millennium Plaza office building at 123a Jerozolimskie Ave. in Warsaw. Previously the Atlas Management Company was headquartered at the Atrium International Business Center. At its new address, the Atlas Management Company will occupy 650 sq m of space on the 19th floor.

The 28-story Millennium Plaza belongs to Atlas Estates Limited. Built in what is known as the Central Business District of Warsaw, the building is 112 meters tall and has nine elevators, nine conference rooms, and 549 parking spaces.

Compiled by
Magdalena Fabijańczuk
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