Topping-out at TriGranit’s Bonarka for Business office development in Krakow
Due to the very strong economic fundamentals combined with the active tenant market in Poland, the company is going to launch further two office developments with 60,000 sqm GLA in Krakow and Katowice
A milestone has been reached on the way to the completion of Building H, the 8th element of Bonarka for Business (B4B), one of the most popular office complexes in Krakow. The construction reached its highest point on the 16th of October, according to the construction schedule. TriGranit is preparing the further phases of the development, Building I and J with 10,000 sqm GLA each.
The structural works, which started in the beginning of 2018, have now come to end: the shell of the 10,000 sqm GLA office building is ready. Parallel to it, the façade installation work started in 2018, and to date aluminium posts on the west and north facade have been installed. Interior works will likely be finished by the end of February 2019 and the Class-A office building is expected to be handed over in Q2, 2019. Unlike other Bonarka for Business elements, this building will be connected directly to the next phase, Building I through special footbridges. The development has received a BREEAM® certificate at the ‘very good’ level for the current stage of the project and will receive the final certification after completing the construction and interior design for the individual tenants.
“Completing the shell of a new development is a step closer towards our goal of supplying Krakow office stock with further quality, Class-A office developments. Tenant activity in 2018 remained very strong in Poland after the robust beginning of 2018, resulting in a 9% vacancy rate in Krakow by the end of Q2, 2018. That’s why we strongly believe in the further progression of Krakow and continue the construction the B4B complex with a further two buildings,” said Beata Kokeli, Head of Asset Management & Country Manager Poland, TriGranit.
The closing phases of the B4B complex – Buildings I and J with 10,000 sqm of GLA each – are under preparation with a planned construction start in 2019 and 2020, extending the company’s flagship project to a 95,000 sqm GLA development. Another office project to be launched next year in the CE region is the Silesia for Business office development, an office complex that will be developed in two phases in Katowice, Poland with altogether 40,000 sqm GLA. In the meantime, also Millennium Gardens, a 37,000 sqm GLA office development with unique architecture has been under construction in Budapest, Hungary, since May 2018. With these projects, TriGranit’s office pipeline exceeds altogether 107,000 sqm GLA in three CEE cities.
Tenant Relationship Program
Since summer 2017, the Bonarka for Business Tenant Relationship program continues with growing success. Tenants of the complex can enjoy delicious food served by local food trucks almost every day. In addition, the B4B Food Truck Days were organized in October, dedicated to not just the employees of B4B, but the citizen as well. September events at the complex consisted of the International Programmer’s Day as well as the B4B Day. So far, the Tenant Relationship Program along with the B4B social media activity has resulted in 1,200 followers on the B4B Facebook page.
About Bonarka for Business
The B4B business park is a project consisting of modern class A offices, consistent with the current highest standards, located in the heart of Bonarka City Center – a multifunctional city centre in the Krakow Podgórze district, close to the historical centre of Krakow, the city’s main arteries, the Krakow ring road and the A4 motorway. This city centre project is a unique development on the Krakow retail and office market as it is a classic brownfield project – where a 19 ha industrial area had been turned into a modern business area. Buildings A, B, C, D, E, F and G are already completed, providing 65,000 sqm GLA to the tenants. The next building (H) is under construction. Due to the active office market in Krakow, a further 2 buildings (I and J) are planned to be built in the coming years. All of B4B buildings (A, B, C, D, E, G and F) are operating with a 100% occupancy rate. The complex of modern office buildings creates a compact layout with a central street and square reminiscent of the function and character of the traditional urban market. The well-designed public space has won numerous awards, ‘artURBANICA 2012’ among others. The main tenants in the complex are Alexander Mann Solutions, State Street, Euroclear, Pegasystems, Herbalife Nutrition, Lufthansa Global Business Services, Innogy, SolarWinds, Global Logic and Luxoft. Ultimately, Bonarka for Business will offer altogether 10 office buildings with a total leasable area of 95,000 sqm with a value of EUR 200 million.