New housing estate for rent in Gdansk Oliwa ready to move in

June 2022

Nature, proximity to business and great access: these features distinguish the estate, located at 6/8/10/12 Górskiego Street, which has just been commissioned by Zeitgeist Asset Management. The project is branded "Home by Zeitgeist", which introduces a modern model of institutional rental: in a safe and stable form, handled online, without commissions and third party involvement.

Institutional rental, very popular in the West, are only just starting to appear in Poland. Apartments are quickly gaining clients, because a good price goes hand in hand with a high standard of premises, clear contract and the owner's care over the whole building or estate - says Peter Noack, CEO of Zeitgeist Asset Management, a developer and asset management company for private and institutional investors. As Gdańsk is one of the most beautiful cities, but also an important business center, we decided that it would be an ideal place to create our first standalone development investment in Poland here - he adds.

The "Górskiego" housing estate is intended for long-term rental. It is located in Oliwa, one of the oldest and most beautiful parts of Gdańsk, in the vicinity of charming forests and hills of the Tri-City Landscape Park. The highest floors overlook the Baltic Sea, which in a straight line is about 1500 m away. In addition, the estate is located near the business center with numerous office buildings and commercial facilities. It is perfectly communicated - only 300 m from the SKM Gdańsk Oliwa railroad station and bus stops, which facilitates quick communication with the rest of the Tri-City agglomeration. And to Sopot you can get from here in less than 10 minutes.

Apartments in an eco-friendly spirit

The 4 and 5-storey buildings comprise 204 units, with two or three rooms, ranging in size from 35 to 68 sqm. All apartments are equipped with wooden floors, modern appliances (washing machines, dishwashers, ovens, hoods). The bathrooms are either with a bathtub or a shower with a low threshold.

Each apartment is allocated its own storage room. Inside the estate there are also a total of 246 parking spaces located in front of the blocks and in the underground garage, which, according to the plans, will soon include, among others, 20 charging stations for electric cars. The investor wants to provide additional electric points also in front of the buildings. There will be special racks for cyclists, where they will be able to attach their equipment, and a spacious, lockable room inside, useful in colder periods of the year.

All apartments have balconies, loggias or terraces. Tenants of apartments with southern orientation can enjoy the view of Oliwa Park. In order to make the buildings and their surroundings friendly to the environment and healthy lifestyle. it is planned to install photovoltaic panels on roofs. The estate itself has been landscaped with greenery, which makes walking along the alleys more pleasant - you will find benches and playgrounds for children.

Technology will facilitate handling the rent

Home by Zeitgeist “Górskiego" housing estate is a novelty on the Tri-City real estate market. Institutional lease will be provided directly by the building owner and operator in one. Contracts will be concluded with companies that are interested in whole pools of apartments, but also with individuals.

The concept of modern Home by Zeitgeist rental is based on the use of an online platform through which both tenants and companies renting apartments for their employees will be able to deal with all the formalities and contact the operator. From signing a contract, through arranging appointments, to handling bills or reporting defects. Another advantage is the availability of dedicated technical support staff, who will be on-site to respond quickly to requests.

Partners in the investment

The completed housing estate in Gdańsk was built for Zeitgeist AM by the developer BMC, which in its portfolio has 30 buildings, including 15 other buildings in the Tri-City area. Consultants from JLL and DIL Baumanagement as well as law firm DWF were involved in the development process.

"For BMC, cooperation with a fund of apartments for rent is an interesting experience. Until now we offered apartments in developer standard, and the "Górskiego" investment was built as a turn-key project. So we had an opportunity to test ourselves in finishing the flats and our team showed that it is also very good in this field. I think we can safely say that we are a pioneer in the Tri-City market when it comes to package sales of apartments for institutional rental. We started talks with the fund in 2017, and at that time sales to individual clients were leading and few developers were considering selling apartments to funds. The cooperation with Zeitgesit turned out to be so fruitful that we are already planning further joint projects" - says Martyna Musiał Vice President of BMC. "Completion of the “Górskiego” investment is a great success of Zeitgeist and a reason to be proud, as the time of implementation fell in the most difficult period of pandemic and numerous difficulties associated with it. However, we are happy to see the first residents who can move in almost immediately" - summarizes Maximilian Mendel, Managing Director of Zeitgeist Asset Management Poland.

Currently, in a similar scheme, combining institutional lease and modern technologies, Zeitgeist is preparing two other investments located in revitalized, historical tenements in Warsaw: "Wrzesińska" in the Praga district and "Św. Barbary" in the very center of the city.

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