PL

Hungarian office market still performing

Office & mixed-use development
HUNGARY Total modern office stock in Budapest came to 3,668,735 sqm, according to The Budapest Research Forum (comprising CBRE, Colliers International, Cushman & Wakefield, Eston International, JLL and Robertson Hungary).
Of this figure 604,570 sqm was owner occupied. Two buildings were delivered over the period: Hungária Center (6,920 sqm) and the second phase of the Advance Tower (7,630 sqm). At the end of the period office vacancy was at a record low of 5.9 pct.




Net absorption over the quarter came to 28,095 sqm. Take up came to 191,235 sqm up by 41 pct y-o-y with renewals accounting for 63 pct of the total. New leases represented 19.8 pct, pre-leases were 10.4 pct and expansions 6.7 pct. According to the BRF, 141 lease agreements were signed in Q3 2019 and theaverage deal size was 1,356 sqm, which exceeds the first quarter’s average by 41 pct.


Latest news

Office & mixed-use development

POLAND Wave approval waved through

schedule 09 July 2020
Opr./edited by NN

The Wave office building, which has just been completed by Skanska in Gdańsk’s Oliwa district, has been approved for use.

Warehouse & industrial

CEE REGION CEE-6 manufacturing powers into contention

schedule 09 July 2020
Opr./edited by NN

The CEE-6’s share of EU manufacturing output has more than doubled since 2004, when the first group of these countries joined the European Union, according to research by Colliers International.

Office & mixed-use development

POLAND Warsaw office pipeline half pre-leased

schedule 09 July 2020
Opr./edited by NN

Around 50 pct of the 704,000 sqm of office space currently under construction in Warsaw has been pre-leased, according to real estate advisory Cresa.

Office & mixed-use development

CEE REGION Office occupiers set to embrace hybrid models

schedule 09 July 2020
Opr./edited by NN

The total modern office stock in the 14 CEE capital cities at the end of Q1 2020 amounted to almost 26.4 mln sqm, according to Colliers International’s ExCEEding Borders Office Snapshot survey of the region’s main office markets.

Office & mixed-use development

ROMANIA Lockdown leases of 25,000 sqm for Globalworth

schedule 09 July 2020
Opr./edited by NN

Globalworth has signed contracts for more than 25,000 sqm of office space in Bucharest in the last three months, despite the pandemic and social distancing measures.

Retail & leisure

POLAND Mall footfall bounces back

schedule 09 July 2020
Nathan North
deputy editor

The Polish Council of Shopping Centres (PRCH) has published its latest average weekly footfall figures for centres across Poland.

Retail & leisure

SERBIA Pepco launches into Serbia

schedule 08 July 2020
Nathan North
deputy editor

Polish discount store chain Pepco is entering the Serbian market, where it plans to open in 30 locations in its first year of operations.

Construction

EUROPE Construction mood starts to recover – GlobalData

schedule 08 July 2020
Opr./edited by NN

The European construction industry expected to recover in second half of 2020, according to data and analytics specialists GlobalData.

Property and Facility Management

POLAND Globalworth adds Rondo Business Park to PM list

schedule 08 July 2020
Nathan North
deputy editor

Rondo Business Park in Kraków is to be managed by Globalworth’s in-house team from July.

Events

Poland Changing with the times

schedule 08 July 2020
Eurobuild CEE

Summer at Eurobuild has never been so hot! We have a new editor, a new website, and soon we’ll be moving to our new headquarters. And, with the announcement of their rescheduled dates, a lot of heat and excitement are being generated for our sports tournaments!

Investment & finance

EUROPE Industrial yields fall below retail for first time

schedule 08 July 2020
Opr./edited by NN

Average prime industrial and prime shopping centre yields across mainland Europe have converged for the first time in recorded history, as demand for logistics soars due to the e-commerce boom, according to research by Savills.

Events

POLAND Blue skies return for golf

schedule 08 July 2020

Great news for those who were disappointed by the cancellation of Eurobuild’s annual golf tournament – it’s now back on! And it will be taking place very soon, on September 11th in Rajszew just outside Warsaw.

Warehouse & industrial

Czech Republic Czech most attractive European manufacturing hub – C&W

schedule 08 July 2020
Opr./edited by NN

The Czech Republic is the most attractive European manufacturing hub and the fourth most attractive globally, according to Cushman & Wakefield’s annual Global Manufacturing Risk Index.

Office & mixed-use development

CZECH REPUBLIC Building B more beautiful for BB Centrum

schedule 08 July 2020
Opr./edited by NN

The recently renovated building B of BB Centrum in Prague 4 has been approved for use.

Events

POLAND Tennis is back in the game!

schedule 08 July 2020

Great news for tennis fans. Eurobuild’s 15th Annual Tennis Tournament, which unfortunately had to be postponed because of the pandemic, will now take place on September 11th at the Warszawianka Tennis Club.

Investment & finance

ROMANIA NEPI Rockcastle portfolio sale hits the rocks

schedule 07 July 2020
Nathan North
deputy editor

AFI Europe’s EUR 300 mln deal to buy NEPI Rockcastle’s Romanian office portfolio has fallen through with the seller insisting that Covid-19 restrictions have prevented the purchase – a claim denied by NEPI Rockcastle, which is now demanding EUR 15 mln compensation from the Israeli-owned company.

Warehouse & industrial

POLAND Dot2Dot packed into 7R Park Gdańsk II

schedule 07 July 2020
Opr./edited by NN

Cardboard packaging company Dot2Dot is to move into the 7R Park Gdańsk II complex, where it will have a production line, warehousing and its head office.

Green projects

LATVIA EIB agrees eco-funds for Verde

schedule 06 July 2020
Nathan North
deputy editor

The European Investment Bank (EIB) has approved a grant for the Verde business centre complex in Riga, developed by SBA Group company Capitalica Asset Management.

Investment & finance

ESTONIA East Capital fund buys SEB HQ for EUR 45.75 mln

schedule 06 July 2020
Nathan North
deputy editor

East Capital Real Estate IV has acquired SEB's head office in central Tallinn from Partners Group and Northern Horizon for EUR 45.75 mln.

Residential

POLAND/HUNGARY Cordia cashes in EUR 38 mln from Polnord takeover

schedule 03 July 2020
Opr./edited by NN

Cordia is set to make a profit of EUR 38.2 mln (app. PLN 170.4 mln or HUF 13.6 bln) from its acquisition this year of a 93 pct stake in Polish residential developer Polnord.

Latest in Office & mixed-use development

schedule 09 July 2020

Lockdown leases of 25,000 sqm for Globalworth

Globalworth has signed contracts for more than 25,000 sqm of office space in Bucharest in the last three months, despite the pandemic and social distancing measures.

schedule 09 July 2020

Office occupiers set to embrace hybrid models

The total modern office stock in the 14 CEE capital cities at the end of Q1 2020 amounted to almost 26.4 mln sqm, according to Colliers International’s ExCEEding Borders Office Snapshot survey of the region’s main office markets.

schedule 09 July 2020

Warsaw office pipeline half pre-leased

Around 50 pct of the 704,000 sqm of office space currently under construction in Warsaw has been pre-leased, according to real estate advisory Cresa.

schedule 09 July 2020

Wave approval waved through

The Wave office building, which has just been completed by Skanska in Gdańsk’s Oliwa district, has been approved for use.

schedule 08 July 2020

Building B more beautiful for BB Centrum

The recently renovated building B of BB Centrum in Prague 4 has been approved for use.

schedule 02 July 2020

The future’s flex

Hungarian-based serviced office operator New Work has gone from strength-to-strength in the CEE region since its foundation eight years ago in the aftermath of the credit crunch. Now it is poised to expand even further in the wake of the latest crisis, according to the company’s CEO, Hubert Abt, who we spoke to in an exclusive interview

schedule 02 July 2020

Warsaw in top ten fintech cities - Savills

Warsaw is the tenth most attractive city in Europe for the fintech sector, according to a survey by Savills.

schedule 02 July 2020

ABB moves to Monopolis

Swiss automation tech company ABB is to relocate to newly-completed offices in the M1 building of the Monopolis complex in Łódź, where it has leased 1,400 sqm.

schedule 30 June 2020

Skanska seals largest ever lease

Skanska has finalised the signing of a ten-year, 47,000 sqm lease with insurance company PZU for all the office, retail, storage and parking space in the third stage of Generation Park in Warsaw – the entire Y building.

schedule 30 June 2020

GFT moves HQ to Brama Miasta

German software provider GFT is moving its Polish headquarters in Łódź to the first building of the Brama Miasta complex in the city centre, where it will occupy three floors and 4,700 sqm.

schedule 29 June 2020

Wrocław office market on the road to recovery

The Wrocław office market is now on the recovery path after the Covid-19 pandemic, according to Polish consultancy Walter Herz.

schedule 29 June 2020

Hagag takes on Știrbey Palace

Real estate developer Hagag Development Europe has received the urban planning certificate for its restoration and conversion into offices of Știrbey Palace in Bucharest.

schedule 26 June 2020

Warsaw Unit puts on dragon skin

Ghelamco Poland is about to complete installing a kinetic façade, called ‘Dragon Skin’, onto its Warsaw Unit office development.

schedule 25 June 2020

Pandemic to fuel growth of shared service centres

POLAND Shared services sector growth is likely to accelerate overthe coming years, says Cushman & Wakefield in its latest report on alternative locations for business service sector occupiers.

schedule 25 June 2020

Landlords in no mood to postpone or lower rents

As many as 71 pct of office tenants in Sofia have asked to defer rental payments and 53 pct have asked for a temporary rent reduction, according to a survey of 85 office landlords in the city by consultancy MBL.

schedule 24 June 2020

Eastnine takes S7-3

Eastnine has purchased the S7-3 office property in Vilnius for around EUR 43 mln from Galio Group.

schedule 24 June 2020

M&A Capital signs up BNP

M&A Capital SARL has appointed under BNP Paribas Real Estate Poland to be the leasing agent of the Karolkowa Business Park and Crown Square office developments in Warsaw’s Wola district.

schedule 23 June 2020

Kwadraciak now fully leased

POLAND The Wielkopolskie provincial planning department (WBPP) has leased 720 sqm of office space in the Kwadraciak office building in Poznań.

schedule 23 June 2020

Co-working on the rise in Stara Drukarnia

Flexible office operator Rise.pl has leased 2,100 sqm in the Stara Drukarnia office building in Łódź.

schedule 22 June 2020

Park life in Kraków from Cain and White Star

UK investor Cain International and local development partner White Star Real Estate have started the construction work on The Park Kraków.

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