Skanska sells two office buildings in Krakow, Poland, for EUR 75M, about SEK 720M
Skanska has sold the first two buildings of the High5ive office complex in Krakow, Poland, to the real estate fund manager Niam for EUR 75M, about SEK 720M. The transaction will be recorded by Skanska Commercial Development Europe in the fourth quarter 2017, with the transfer of the property scheduled for the second quarter 2018.
The two buildings provide about 23,400 square meters and are scheduled for completion in sequence in the first and in the second quarter 2018. The properties are currently leased to tenants such as Ocado and Business Link.
High5ive will ultimately comprise five office buildings with a total leasable area of about 70,000 square meters. It is located adjacent to Krakow Old Town and the main train station. The project is expected to receive LEED Gold certification (Leadership in Energy & Environmental Design). It will also be certified as a “Building without barriers” for its accessible design and inclusiveness for people with disabilities.
Skanska is one of the leading developers and construction companies in Europe. Outside the Nordics, the company has its European operations in building construction and civil engineering located in Poland, the Czech Republic, Slovakia and the UK. Skanska develops commercial properties in select local markets in Poland, the Czech Republic, Romania and Hungary, and residential developments in Prague and Warsaw. Skanska also offers services in public private partnerships. In 2016, Skanska had sales of SEK 36 billion and about 16,500 employees in its European operations.