Tristan Fund acquires prime site for Wroclaw office development
An opportunity fund advised by Tristan Capital Partners has acquired a site with full development rights in the centre of the university city of Wroclaw, Poland’s fourth largest city, to build circa 22,365 sq m of prime office space with ancillary retail to be known as ‘Infinity’.
Tristan’s European Property Investors Special Opportunities 4 (EPISO 4) Fund completed the acquisition with Avestus Real Estate, the Fund’s local operating partner and development manager for the project. The site is ready for immediate development to achieve a delivery date of Q3 2020.
The asset is located in the city centre, enjoying excellent transport links and exposure. The property will be of grade A quality and has achieved a BREEAM Excellent pre-certification.
Cameron Spry, Senior Partner and Head of Investments at Tristan Capital Partners, says: “Poland is a leading location for business process outsourcing in Europe, and the highly-skilled labour pool of the country’s main regional cities has led to a significant decentralisation of the Polish office market. Wroclaw, with its excellent academic offer and an attractive business environment, has already established itself as one of the most valued international and domestic office occupier destinations. We look forward to delivering a prime building that will meet the requirements of these occupiers, as well as their staff.”
Wroclaw is the second investment made by a Tristan Fund and Avestus into the Polish office market. The firms previously completed on the acquisition of an office park in Krakow in May 2015.