7 Sep 2022
M7 agrees long term lease renewal at Cristal Park in Warsaw, Poland, following BREEAM ‘Excellent’ rating
M7 Real Estate, the pan-European investor and asset manager specialising in multi-tenanted properties, announces that it has secured a long-term lease extension with the occupier of Cristal Park, a Grade A office building in Warsaw, Poland, having achieved an improved BREEAM rating of ‘Excellent’.
M7 launched a comprehensive asset management programme for the 10,600 sq m building in 2021/22, installing LED lighting throughout the property; an efficient cooling system; new fittings which support lower water consumption; and bicycle storage.
This activity has delivered a reduction in Cristal Park’s energy consumption and an improvement in the building’s BREEAM rating from ‘Very Good’ to ‘Excellent’, which resulted in the building’s long-term occupier regearing its lease in line with ERV.
Katarzyna Wroniak, Managing Director for Poland at M7, commented: “When M7 acquired Cristal Park it had a short weighted average unexpired lease term; we identified an opportunity to invest in the property, retrofitting it to improve its sustainability credentials and attractiveness to occupiers. As well as receiving an ‘Excellent’ BREEAM rating, we are extremely pleased to have secured a renewed, long term lease with a blue chip organisation whilst also growing the asset’s income.”