HOT NEWS: Transaction in Warsaw

photo: Greenfields

Bokserska 64 JS Sp. z o.o. Sp. k. has completed the sale of the project located at 64 Bokserska Street in Warsaw’s Służewiec district. The transaction value amounted to PLN 163 million net. The transaction was handled by Greenfields, which continues to coordinate the ULIM approval process. Justyna Cymerman, Head of Urban Planning, commented: “Our work is not yet finished. The most interesting and at the same time the most crucial stage still lies ahead of us — concluding the agreement with the city and the vote on the ULIM resolution.” The 29,770 sq m property has the potential for the development of a modern, multifunctional multi-family residential building comprising approximately 750 apartments. The project includes, among other things, approximately 900 sq m of service space, 1,810 sq m of premises intended to meet local district needs, as well as a publicly accessible recreational park covering approximately 6,500 sq m. The concept incorporates both low and high greenery, as well as the adaptation of the existing water reservoir as an element of blue-green infrastructure.

The project prepared for the site at 64 Bokserska Street responds to the changing character of Służewiec and the needs of residents in this part of Warsaw. The plan envisages transforming the existing warehouse and office development into a new, open urban structure with multi-family residential buildings, retail and service units on the ground floors, and extensive greenery and recreational spaces.

As part of the investment, a new, ungated urban frontage is planned along Bokserska Street and Komputerowa Street, consistent with the surrounding residential development. The concept also includes pedestrian and bicycle routes ensuring free movement, as well as service units of various sizes, enabling the development of a full range of essential services for residents.

An important element of the project is also the expansion of public and social infrastructure. In addition to the residential development itself, the plans include, among other things, the construction and redevelopment of sections of Komputerowa Street and Bokserska Street, the development of a bus loop, and a pedestrian and bicycle route leading to the footbridge by the Warszawa-Okęcie railway stop. The plans also include preparing documentation for an access road from the bus loop to Kłobucka Street, as well as construction works in the Primary School building at 12 Gruszczyńskiego Street, which will allow for the creation of additional educational space.

Greenfields handled this transaction and is coordinating the ULIM approval process.

– “We congratulate the new owner on the successful completion of the transaction and wish them every success in the further implementation of the project. This is an undertaking of major importance for this part of Mokotów and for the whole of Służewiec,” emphasizes Michał Różycki, Head of Residential Land Development (Living). On behalf of Greenfields, the Legal Department, led by Counsel Małgorzata Kuciak-Malisiewicz, and the Urban Planning Department, headed by Head of Urban Planning Justyna Cymerman, played a key role in finalizing the transaction, together with the team of architects who developed a coherent, valuable, and responsible concept for this site. An important role was also played by our Marketing and Communications Head, Dominika de León, together with her team. “For years, teamwork has been the key to Greenfields’ success. I would like to thank the entire team for their commitment and hard work. After a few days of rest, we are returning to intensive work on further projects,” concludes Greenfields CEO Aleksandra Wołodźko.

photo: Greenfields

The author of the project also spoke about the values underpinning the concept:

– “This project is the result of many months of dedicated work, during which we combined experience, knowledge, and best urban planning practices to create a space that genuinely responds to the needs of the district. We believe this is not only an investment, but also an important step toward a greener, more sustainable, and more user-friendly urban fabric of Służewiec,” said Lead Architect Mateusz Sadowski, author of the architectural and urban planning concept.

As the project architects emphasize, the current development at 64 Bokserska Street no longer meets the contemporary needs of the district. The aim of the concept was to create a functional, sustainable, and open residential complex combining housing with greenery, services, and recreational spaces.

– “The current warehouse and office development at 64 Bokserska Street no longer responds to the contemporary needs of district residents. Our goal is to transform this space into a functional, sustainable, and open residential complex that will combine housing with green areas, services, and recreational spaces. The planned investment is a response to the real needs of this part of the city — a place that for years remained on the margins of development. The project is intended to create a modern space that will bring urban order and improve the functionality of the entire area,” notes the architect of the Bokserska 64 project.

An important distinguishing feature of the concept is a large, open, and publicly accessible park with rest and recreation zones for different age groups. The project envisages low and high greenery plantings and the adaptation of the existing water reservoir as an element of blue-green infrastructure. Thanks to this, the area has a chance to gain a new quality and become a more friendly, safe, and better organized place.

The completed transaction closes an important pre-investment stage in the implementation of the project under the special housing act.