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Topping out ceremony at the Mogilska 35 Office building in Kraków
On 22 February the topping-out ceremony for the latest Warimpex development, Mogilska 35 Office, took place in Kraków. The shell construction of the office building, named after its address at 35 Mogilska Street, has now been finished. Final completion of the building is planned for later this year. A total of 11,900 square metres of rentable space will be created, which will meet the highest standards in terms of sustainable design and ecological construction. Warimpex is currently in negotiations regarding the leasing of the office space.
Warimpex improves result for first three quarters of 2022 significantly
In the first three quarters of the year, the Warimpex Group improved all of its key financial metrics versus the prior-year period. The profit for the period increased from EUR 2.6 million to EUR 13.6 million. These developments can primarily be attributed to the following factors: higher occupancy at the office properties in Poland; the full consolidation of an additional office property in St. Petersburg; an improvement in occupancy rates at hotels, particularly in comparison to the previous year, which was still significantly impacted by COVID-19; and not least the strength of the Russian rouble.
Warimpex posts profit of EUR 13.4 million for the first half of 2022
The Warimpex Group is pleased to report positive operating performance for our office properties and hotels in the first half of 2022. Revenues from office property rental and from hotel operations improved in annual comparison. Two transactions were also successfully closed in June, one being the sale of the B52 office building in Budapest with over 5,200 square metres of net floor space under a share deal.
Warimpex acquires office building in Łódź
Warimpex has acquired the Red Tower office building with a total area of more than 12,000 square metres in the Polish city of Łódź. The transaction was closed at the end of June 2022. This is Warimpex’s third investment in Łódź, following the andel’s hotel and Ogrodowa Office.
Warimpex sells B52 Office in Budapest
Warimpex announces the sale of B52 Office in Budapest to Semmelweis University. The contracting parties have agreed on a purchase price of EUR 12.575 million for the fully occupied office building with a total area of more than 5,200 square metres. The transaction was successfully completed on 29 June 2022.
Negative result for the first quarter of 2022
The business operations of the Warimpex Group developed positively in the first quarter of 2022. Particularly the performance of the hotels improved following a weaker prior-year period due to the pandemic, and revenues in the office segment also increased significantly. Nevertheless, measurement losses on Russian properties and losses from changes in the foreign exchange rate for the rouble led to a loss of EUR 4.4 million for the first quarter of 2022, compared with a loss of EUR 0.5 million in the previous year.
Warimpex generates positive result for 2021
Vienna/Warsaw, 27 April 2022 – The Warimpex Group achieved a positive operational performance in 2021. The hotel segment saw a particularly solid recovery compared with the weak year caused by the pandemic in 2020 and in the office segment, properties with long-term leases that are contractually assured generated ongoing cash flows. Along with obtaining important building permits for development projects in Poland, the company started the construction of Mogilska 35 Office in Krakow. New leases were concluded in Budapest and Krakow, so B52 Office and Mogilska 43 Office are both fully occupied now. The overall occupancy rate for the office properties is 96 per cent. The Warimpex Group’s result for the period improved significantly, going from a loss of EUR 31.1 million to a gain of EUR 12.0 million.
Warimpex holds 100 per cent of Jupiter Towers at AIRPORTCITY St. Petersburg after acquisition of additional shares
Vienna/Warsaw, 13 January 2022 – Warimpex Finanz- und Beteiligungs AG is pleased to announce the acquisition of a 56 per cent stake in the two Jupiter Towers at AIRPORTCITY St. Petersburg. All of the prerequisites for the closing were satisfied and the transaction was closed on 28 December 2021. As a result, Warimpex not only holds a 100 per cent stake in AVIELEN, which developed AIRPORTCITY St. Petersburg, but now 100 per cent of all the buildings at AIRPORTCITY St. Petersburg, as well. The project generates an operating cash flow of roughly EUR 8 million per year.
Warimpex starts construction of Mogilska 35 Office in Krakow
The real estate development and investment company Warimpex has started the construction of another office building in the Polish city of Krakow, Mogilska 35 Office, with approximately 11,000 sqm of space and a completion date set for the first half of 2023.
After acquisition of shares: Warimpex holds 100 per cent of AIRPORTCITY St. Petersburg
Warimpex Finanz- und Beteiligungs AG is pleased to announce the acquisition of a 10 per cent stake in the project company AO AVIELEN A.G. The seller is UBM Development AG, which has now fully withdrawn from the project. The parties involved agreed not to disclose the price. Warimpex now holds a stake of 100 per cent in AVIELEN, the project company responsible for the development and operation of AIRPORTCITY St. Petersburg.
Warimpex generates positive result for third quarter
The Warimpex Group achieved a solid operational performance in the first three quarters of 2021. The hotel segment in particular recovered versus the previous year and there are also successes to report on the office and development side, with two new lease agreements and the start of construction on a property.