Bank Millennium has prolonged until 2030 its lease agreement of nearly 7,500 sq m in Harmony Office Center II - an office complex in Warsaw’s Mokotów district. Azora Europa, a Spanish investment fund and the owner of the property, was represented in the leasing process by Knight Frank, a real estate consultancy and the manager of three buildings in the office complex. Bank Millennium was represented by the real estate consultancy Cushman & Wakefield.
“The Management Board of the Bank made a strategic decision to stay in our current head office at Żaryna Street for another decade. We were thinking about the comfort of our employees and achieving a better business synergy resulting from keeping the same address and remaining close to all branches of our Bank. Naturally, various options were considered during the negotiation process. However, apart from the obvious financial reasons, we also took into account the opinion of our employees who were strongly in favour of staying at the current location due to its proximity to the metro station and the Pole Mokotowskie park. There are restaurants and bars located nearby, as well as a post office, a pharmacy and a health clinic,” says Ivo Novo, Head of Administration and Infrastructure at Bank Millennium.
“The transaction concluded with Azora Europa closes the last stage of the Bank Millennium Head Office project in Warsaw, with a total area of over 26,400 sq m,” says Paulina Misiak, Partner at Cushman & Wakefield, which represented Bank Millennium throughout the process. “We are delighted with the project results. It was the Bank’s priority to ensure the comfort of its employees while obtaining cost optimisation, but not at the expense of the location or quality of the building. These requirements were met and now, with the Bank's decision, all the advantages related to the current location and its consolidated functions have been preserved.”
Anna Szelc, who represents Azora Europa on the CEE market, says: “We are very satisfied that the key tenant of Harmony Office Center II prolonged its lease agreement for such a long period. We are convinced that a number of factors were taken into account here, including the Bank’s willingness to offer its employees a friendly and comfortable working environment, great location of the complex, high-quality office space and competitive lease terms offered to Bank Millennium. We would also like to thank the experts from Knight Frank. With their commitment, professionalism and high-quality services, the both parties were able to close the transaction swiftly and successfully.”
Bank Millennium is a nationwide universal bank that offers services dedicated to all market segments via a network of branches, individual advisers and electronic banking. From the very beginning, the Bank founders and shareholders wanted to create a modern institution based on the best banking tradition and able to compete successfully in all segments of the financial market. Its knowledge of the Polish financial market is a result of many years of experience in providing services to corporate clients and individual customers, further supported with the know-how and international practices brought into the Bank by Banco Comercial Portugues (Millennium bcp), Portugal’s largest commercial bank and a strategic shareholder of Bank Millenium. Having operated through its subsidiaries and a network of partners on all financial markets for many years, the Bank continues to offer comprehensive financial services to its clients and customers, all within one institution. The Bank is the centre of the Bank Millennium Group which also includes Millennium Leasing, Millennium Dom Maklerski and Millennium Towarzystwo Funduszy Inwestycyjnych. It employs over 6,000 people.
Harmony Office Center II, comprising of Building B, C and D, is a modern, class A office complex, located in Warsaw’s Mokotów district, in the part bordering with the Śródmieście district, i.e. the very city centre of Warsaw. Due to its location the complex offers easy access to other parts of the city, both by public transport and by car. Owned by Azora Europa, Harmony Office Center II is managed and leased out by Knight Frank.
Azora Europa is a Spanish private equity fund operating in CEE since 2007. Since 2012 it has been the owner of three office buildings in 2b Żaryna Street. Together with other six office complexes located in Warsaw, Kraków and Wrocław, the buildings are a part of Azora Europa’s portfolio in Central and Eastern Europe.