Commerz Real leases out 18,900 square metres in Warsaw
Poland’s Bank Millennium SA has extended its lease agreement for just over 18,900 square metres in its head office in Warsaw’s “Millennium Park” for an additional 10 years beyond the 3-year residual tenor of the current contract. The owner of the building is the Commerz Real open-ended real estate fund hausInvest. According to statements by the company this is the largest lease agreement in Poland in the current year. “Lease agreements on this scale and with this very long term are very rare in Warsaw,” underlines Roland Holschuh, a member of the Board of Managing Directors of Commerz Real.
The modern office building is located on Stanislawa Zaryna, a street on the southern edge of the Central Business District noted for its excellent links to public transport services. In the immediate vicinity is Pole Motokowskie, one of the largest parks in the centre of the Polish capital. Bank Millennium is one of Poland’s oldest commercial banks. It has approx. 6,000 employees in more than 350 branches throughout all of Poland and has more than 1.5 million customers. The strategic shareholder is Banco Commercial Portugese (Millennium bcp), Portugal’s largest commercial bank.
The company Savills, as well as Cushman and Wakefield, provided advice on the lease agreement process.