Building permit granted for Tensor office complex

Gdynia, 1 October 2014 - The A-class office complex, Tensor, located at 8 Łużycka street in Gdynia, has been granted a final building permit. The latest project of the developer EURO STYL has received all the necessary permits in early September. Demolition works are being carried out on the site, and construction is starting.

Tensor will be the second business park in Gdynia. The project includes three modern buildings - X, Y and Z, comprising a total of 20,000 sq m of office space. Completion of the investment's first stage - office building X with office space of 4,960 sq m, is scheduled for Q1 2016. The tenants of Tensor will have at their disposal 446 parking places. To provide comfortable working conditions for the tenants, the ground floor level was designed to house a café, a general convenience store, a canteen, and other amenities. The complex will also boast an internal patio, a pond and a relaxation area including a boules court. The surrounding green space was preserved. The concept was designed by Degutis Studio.

Of key importance is the complex's location, on Łużycka street, in Gdynia's largest office area. This part of the city boasts excellent access to public transport: bus stops, a Tri-City’s Fast Municipal Railway station, and the soon to be completed Pomeranian Metropolitan Railway, which connects Gdynia to Gdańsk airport and other Tri -City locations.

Mikołaj Konopka, Vice President of EURO STYL, said: “Our decision to be involved in more office projects was encouraged by previous successful developments: Opera Office and BPH Office Park in Gdańsk. We would like to make use of our experience and create an attractive complex, this time on Gdynia's promising office market”.

The commercialisation of the project is conducted by the international advisory company JLL - the most experienced (in Tri-City since 2008) and the most active commercial real estate strategic advisor in the Tri-City market.

Magdalena Reńska, Associate Director, JLL, added: “Tensor will increase Gdynia's high -class office space resources, the availability of which is a key factor when attracting investors searching for an appropriate business location. The investment is a modern, environmentally -friendly project, tailored to the specific needs of tenants from the business services sector, who are among the major targets of new office projects in Tri-City. The Tensor complex is not only perfectly functional, but also provides employee-friendly work environment. Because of its location on Łużycka street, the complex offers excellent public transport access, which in turn attracts a great deal of interest from prospective tenants. An additional asset is the reasonable level of rent asked for such a high class space. I am convinced that the combination of these advantages will make Tensor a successful investment.”

The Tri-City’s office stock at the end of H1 amounted to 484,500 sq m (of which 127,350 sq m in Gdynia). Rents in Tri-City range from €12.75 to €13.5 / sq m / month.

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