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A Korea company bought CEDET for 129.5 million euros

The recently rebuilt CEDET building changed its owner on Friday. The office building was in the hands of a Korean fund managed by GLL Real Estate Partners.

A Korean investor paid 129.5 million euros for the building at the corner of Aleje Jerozolimskie and Krucza. The sale was announced on Friday by its previous owner – the company Immobel – who bought it in 2011, and five years later began renovation of the facility.

Currently, the building has 22 thousand square meters, of which 15,000 occupy offices and 7,000 retail and service premises, located on the ground floor and first floor. Its renovation consumed over PLN 400 million.




The company Immobel informed about the plans to modernize the former Central Department Store just after its acquisition. From the very beginning, the concept assumed a combination of tradition and modernity. The goal was, among other things, to recreate the façade referring to the one that burned down in the 1970s.

When the work begun in 2015 it aroused a lot of controversy. It started with the almost complete demolition of the symbol of the post-war capital. It was the only concrete structure that remained in this area. For such a scope of work, Immobel had the consent of the capital monument conservator. Many of the inhabitants of Warsaw, however, have expressed negative feedback to the project; The building, which after the war was a glowing lantern in a sea of ​​ruins, now has itself become a ruin in the middle of a colorful city. The horror was deepened by the fact that passers-by only ever frightened the skeleton , and the progress of the works was invisible (they were underground, where the two-level garage that did not meet modern standards was almost completely dismantled and replaced with a new one).

CEDET was built at the turn of the 1940s and 1950s. At that time, it was one of the most modern buildings in the capital. Zbigniew Ihnatowicz designed it in a modernist spirit, which met with harsh criticism of power.

In the times of the Polish People’s Republic and after its fall, the largest toy and children’s articles store operated here – Smyk.

There was a restaurant on the roof of the old CEDETU. There was a cafe downstairs. The main façade was decorated by the most popular spiral-shaped neon in the capital. Today, on the façade of the building, there is an installation modeled on a historical sign.

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