Liebrecht & wooD has completed the acquisition of almost a 50% share in the commercial part of KONESER project in Warsaw.
The KONESER development consists of the revitalization of post-industrial buildings as well as the construction of new buildings at the historic Warsaw Vodka Distillery. It will be the first mixed-use complex in Warsaw combining four functions: residential, retail, office and cultural. The project is developed on a 5 hectare plot between Ząbkowska, Nieporęcka, Białostocka and Markowska streets in the Praga district of Warsaw.
KONESER will comprise over 300 housing units, 22,500 sqm of retail and service space and 22,000 sqm of offices.
Liebrecht & wooD joins forces with BBI Development to develop the retail-office part of KONESER, which constitutes around 59% of the total space at the complex. The investment value is set at PLN 450 million, and the completion of the project is planned for 2017.
“We are delighted to join the KONESER project. Our cooperation with BBI Development has up to now been very fruitful, and we are convinced that this is a perfect foundation for the effective development of the key retail-office part of this project,” says Marc Lebbe, managing director of Liebrecht & wooD.
“It has been over four years, of our successful cooperation in other project and we look forward to joining forces with Liebrecht & wooD in this exciting undertaking,” says Michał Skotnicki, President of BBI Development. “Koneser, which we have been fostering for the last few years have now all the prerequisites to become the unique landmark project of this part of Warsaw.”
Both companies are successfully developing the office-retail complex Plac Unii in Warsaw, due to open in October 2013.