Globalworth Real Estate closes acquisition of two Poland office blocks

Central and eastern Europe-focussed office real estate investor Globalworth Real Estate confirmed the closing of the acquisition of two “high quality” office buildings in Poland on Friday.

The AIM-traded firm said the first property was Retro Office House, which it described as a newly-completed office development with a gross leasable area of 21,900 square metres.

It said the building, located in central Wroclaw with “excellent” connectivity to all parts of the city and a range of public transport options, was acquired for a total consideration of €58.8m.

The second building was Silesia Star - a 29,200 square metre office complex with two interconnecting buildings developed in 2014 and 2016.

Globalworth said that property was “at the heart” of Katowice and located in the immediate vicinity of the city centre, two universities and various transport options, and was acquired for a total consideration of €54.4m.

“The total transaction consideration for both buildings has been set at €113.2m, before customary adjustments, and has been funded from existing cash resources,” the Globalworth board said in its statement.