In December 2021 we have closed the acquisition of a 10 per cent stake in AVIELEN A.G., the project company responsible for the development and operation of AIRPORTCITY St. Petersburg. In addition, we have acquired a 56 per cent stake in the two Jupiter Towers. As a result, Warimpex now not only holds 100 per cent of the AIRPORTCITY St. Petersburg including all of its buildings. As a result, we have expanded our total portfolio of office properties to over 100,000 square metres of lettable space. AIRPORTCITY St. Petersburg is a location that offers us tremendous potential for further development projects. The project generates an operating cash flow of roughly EUR 8 million per year.
Office building receives LEED Gold certification
The Zeppelin office tower, which is also located at AIRPORTCITY St. Petersburg, was recently awarded the Leadership in Energy and Environmental Design (LEED) Certification in Gold. The internationally used sustainability certification for green buildings defines extensive standards for environmentally friendly and resource-efficient construction when it comes to large-scale renovations and new structures in the commercial real estate sector. This is yet another confirmation of the high standards of the Warimpex Group’s properties. The next project phase, Avior Tower 1, is also being built in accordance with the criteria for LEED Gold certification and is expected to be certified accordingly.
About AIRPORTCITY St. Petersburg
AIRPORTCITY St. Petersburg is located in close proximity to the Pulkovo International Airport in St. Petersburg and was developed by the project company AVIELEN A.G., in which Warimpex has been a majority shareholder since 2006 and has held a 100 per cent stake since December 2021. It is the first premium-class business centre at this location and is a key infrastructure project in the area around the Airport, one of the fastest-growing commercial zones in St. Petersburg.
In addition to a four-star Crowne Plaza Hotel, three modern buildings with a total lettable space of roughly 37,000 square metres have been built thus far. The two office towers from the first construction phase – Jupiter 1 and Jupiter 2, which offer approximately 16,800 square metres of space – as well as the third office tower from the second construction phase – Zeppelin with roughly 15,500 square metres of space – and a multi-use building with around 5,000 square metres of lettable space are all fully occupied.