Polish Factory Set For Property Development

  • 16 years ago
  • Uncategorized
The historic Norblin factory in Poland is set for purchase by Art Norblin, a subsidiary of American real estate investment fund Patron Capital Partners. Art Norblin plans to renovate the property, which is in Warsaw’s Wola district at the intersection of ul. Prosta and ul. Zelazna. The group is currently planning to develop office and residential space on the site as well as have an industrial museum open to the public.
According to officials, JEMS Architekci is working on a design proposal which will be available in early 2009. The sale price of the transaction was not revealed, but the former owner, developer Alt Dom, purchased the factory in 2007 for approximately zl. 70 million.
Kinga Nowakowska, general director of Art Norblin, is looking forward to the new development as well as the challenges in the site: “We have undertaken an ambitious and difficult task. We are aware of the fact that revitalization of that area is a financial and architectural challenge that requires cooperation by many institutions and organizations.”
Related news 
Polish Investment resources

Compare listings