Full Description

The building is very centrally located in Lodz, Poland's second largest city with a population of approx 900,000. Located in central Poland, approximately 90km from Warsaw, it was for many years overlooked for its proximity to Warsaw and the decline of the textile industry of which it was capital. After some years of economic hardship the city is now on a firm rejuvenation with a current revival in the textile industry, growth in manufacturing and service industries, significant foreign direct investment and massive infrastructure improvements like the fast rail link to Warsaw in progress, upgrade of local infrastructure, new leisure parks, etc. The building of Poland's largest leisure water park commences this year, a children's science museum is being incorporated into the new shopping complex alongside a new apart-hotel. The Hilton and Holiday Inn are also in planning stages as is the arrival of IKEA - all of which provide for a very healthy forecast for the property market. Prices have been on the rise for the last year and a half and forecast to continue for at least the next 5 years. The rental market is also buoyant with rents on the increase.

The building provides 2250 m2 of usable space comprising 3 commercial units all rented and a further 39 apartments of which some 35 are rented and 4 undergoing renovation with ready tenants at completion. A central courtyard provides for parking spaces which are charged for separately and tenants also service their own utilities. A property manager is employed to deal with day to day management. The building offers lots of potential in terms of rental or resale of individual units and tremendous capital growth prospects.