According to the developer’s representative, the new business centre is currently conducting final works on landscaping and decoration of common areas. Tenants will be able to begin repair work in Q2 2020.
The new business centre is located between Panas Myrnyi and Professor Buiko Streets, to the south of Lviv centre and close to main motorways that connect densely populated areas with the historic part of the city.
“Lviv, even more than Kyiv, needs quality office space. The primary vacancy in the office real estate market in Lviv is approximately 1.5%. In the segment of ‘modern’ business centres, the cumulative rental area of which is only 148,000 sq.m GLA (or 196 sq.m GLA per 1,000 citizens), it does not exceed 0.5%. Geographically, the business centre on Panas Myrny Street is located within the new Lviv business district, popular among the largest office tenants. This area is gradually being formed due to existing and upcoming business centers located here, as well as Ukrainian Catholic University campus, which is an important centre for educational, public and business activity in the city,” said Marta Kostiuk, Head of Research and Development Consultancy in Cushman & Wakefield Ukraine.
“The development of a new business centre is carried out within the framework of large-scale renovation of the strategic district for Lviv, which was previously industrial and warehouse by its nature. This adds value to the project in terms of its impact on the urban environment,” said Marta.
According to its technical characteristics, the new office building is one of the most modern and high-quality in the city. Its total area is just over 8,000 sq.m. The open plan and the correct rectangular shape of the floor with an effective grid of columns allow tenants to equip their premises in open space or in separate rooms. The latest air conditioning and ventilation systems, as well as heating, should provide maximum comfort for a long stay in the business centre. The developer plans to open a large terrace with a view of Lviv.
International consulting company Cushman & Wakefield has been appointed to search for the tenants.
“The developer built this business center with the requirements of modern tenants, including IT companies, in mind. What is more, one of the largest Ukrainian companies specializing in software products development has already occupied two of the six floors. This means that the new project strengthens Lviv’s reputation as the IT capital of Ukraine,” said Levon Papoyan, Head of Office Agency and Consultancy in Cushman & Wakefield Ukraine.
Popular Kyiv-based chain fitness centre ‘Fizmat’ would be opened soon in the business centre, as well as the ‘Tomato’ salateria and ‘Coffee Lab’ café.
Another important advantage of the new business centre is that it will be one of the few office centres in Lviv that are professionally managed with all the benefits for tenants. Cushman & Wakefiled, with its current partner, First Rearty Brokerage, has taken on the role of a management company whose responsibilities include a full range of management services, from maintenance of building utilities to monitoring tenants' compliance with rental conditions. High-quality property management with the assistance of a professional management company gives the owner an opportunity to focus on the core business, and the brings tenants the confidence in comfortable working conditions.
Despite the unstable economic environment a successful shopping centre can still be developed in Ukraine.
On June 27 the IT Jazz Conference took place in Lviv, in the course of which IT professionals, investors, and government officials discussed the fu