PL

POLAND Office demand in the regions still holding up - Colliers

Office & mixed-use development
At the end of Q2 2020 the total modern office stock in Poland’s eight largest regional cities amounted to 5.6 mln sqm, according to figures published by Colliers International.

The largest regional office markets are currently Kraków (1,483,300 sqm), Wrocław (1,186,100 sqm) and the TriCity (868,400 sqm).

In H1 2020, over 175,600 sqm of office space was completed – 27 pct down on H1 2019, with the largest volume transacted in Kraków (69,100 sqm), Katowice (31,100 sqm) and the TriCity (29,900 sqm).

Contrary to appearances, the decrease in the amount of sqm completed in the first half of this year is not the result of the suspension of construction work after the outbreak of the Covid-19 pandemic. After some short interruptions on some construction sites, construction work has resumed and most developers do not expect significant delays in completions.
Olga Drela, a senior analyst in the research and consultancy services department at Colliers International

The total volume of leasing activity in H1 2020 amounted to 333,000 sqm – 9 pct more than in the same period last year. However, in Q2 almost 50 pct less office space was leased than in Q1. The largest volume of space leased in H1 was in Kraków (114,700 sqm).

New deals accounted for most of the take-up in H1 – 54 pct of the total (including pre-leases and owner-occupier deals). Renewals of current lease agreements made up 32 pct and expansions 14 pct. However, in Q2 renewals had the largest share – 59 pct, whereas new contracts and expansions accounted for 28 pct and 13 pct, respectively. The demand was clearly dominated by IT sector companies.

The Covid-19 pandemic has resulted in increased uncertainty and caution among many companies, which has translated into longer decision-making processes in many fields, including office space leasing. Tenants who are just finishing their lease agreements have been forced to take certain steps, so many transactions are still ongoing. As we expected, the number of renegotiations increased significantly in the second quarter and this trend will certainly continue. There are also more and more sub-leasing offers on the market – currently there is app. 70,000 sqm of sublease space available on the largest regional markets and this number is constantly growing.
Paweł Skałba, a senior partner and director of the office agency at Colliers International

The largest transactions in H1 2020 included the renewal of ABB’s contract in the Axis office building in Kraków (20,000 sqm), Fujitsu Technology Solutions’ pre-lease transaction in the Fuzja in Łódź (16,300 sqm) and a confidential transaction in Tertium Business Park II in Kraków (14,500 sqm).

At the end of Q2 there was almost 571,600 sqm of unoccupied space in the eight cities – a vacancy rate of 10.2 pct (a 0.7 pp q-o-q increase). The highest vacancy was recorded in Poznań (14.5 pct), while the lowest was in the TriCity and Katowice (6.1 pct).

Latest news

Office & mixed-use development

BULGARIA Park Lane offices reach shell stage

schedule 13 August 2020
Opr./edited by NN

The ceremony has taken place to mark the completion of the shell-stage of the Park Lane Office Center in Sofia.

Investment & finance

CEE REGION EUR 6.26 bln transacted in CEE-6 in H1 - Colliers

schedule 13 August 2020
Opr./edited by NN

The real estate investment volume for the CEE region in the first half of 2020 amounted to app. EUR 6.26 bln, according to Colliers International.

Warehouse & industrial

GERMANY MLP Group starts work on Berlin park

schedule 12 August 2020
Opr./edited by NN

Polish warehousing developer MLP Group is about to start the construction of MLP Business Park Berlin I, a city logistics project located to the south of the city.

Office & mixed-use development

POLAND Kajima completes Oponeo HQ

schedule 12 August 2020
Opr./edited by NN

Kajima Poland has completed the extension and reconstruction of the Bydgoszcz headquarters of tyre e-retailer Oponeo.pl.

Office & mixed-use development

POLAND Polish office market surviving but set for a correction – C&W

schedule 12 August 2020
Opr./edited by NN

The total office stock in Poland’s nine largest cities grew by 6 pct y-o-y in H1 2020, despite the lockdown, according to research by Cushman & Wakefield.

Technology

Poland Robot blasts germs with UV

schedule 11 August 2020

The first Polish robot to use UV-C light for disinfection has been put to use in a hospital in Wrocław.

Technology

Poland Robots replace dinner ladies

schedule 11 August 2020

The first fully automated canteen in Poland is to open in Sky Tower in Wrocław.

Property and Facility Management

CZECH REPUBLIC Savills for Cimex again

schedule 11 August 2020
Opr./edited by NN

Cimex Group has appointed Savills as the property and leasing manager for twelve commercial properties across the Czech Republic.

Warehouse & industrial

Poland Work to start on City Logistics Warsaw Airport II

schedule 11 August 2020
Opr./edited by AH

Panattoni has just announced a Warsaw development, which is to be built on a 1.9 ha site next to the S7 junction with the S8 expressway around six kilometres from Warsaw's Chopin Airport. City Logistics Warsaw Airport II, which is to be built on Warsaw's city limits, will have an area of 9,000 sqm and construction work is to begin in August.

Investment & finance

HUNGARY CPI raises HUF 30 bln from green bonds

schedule 10 August 2020
Opr./edited by NN

Czech real estate developer CPI Property Group auctioned HUF 30 bln (app. EUR 86 mln) of senior unsecured green bonds with a ten-year bullet maturity on August 5th.

Warehouse & industrial

POLAND Warehouse vacancy creeps up

schedule 10 August 2020
Opr./edited by NN

Both warehouse take-up and supply reached high levels in H1 2020 in Poland, according to Cushman & Wakefield's latest report on the Polish industrial market.

Interior design

POLAND C&W shows off new Hub HQ

schedule 10 August 2020
Opr./edited by NN

Cushman & Wakefield has completed the move of its Warsaw offices to The Warsaw Hub, which has just come into use.

Office & mixed-use development

POLAND Pretty unvacant in the TriCity

schedule 10 August 2020
Opr./edited by NN

The TriCity office market now has the lowest vacancy of all the major cities in Poland, according to Walter Herz.

Green projects

Hungary LEED Gold for BudaPart

schedule 10 August 2020
Opr./edited by AH

The first office building within Property Market's BudaPart development in Budapest has been awarded LEED 'Gold' certification.

Retail & leisure

BULGARIA Sofia retail rents set to keep on sliding – Colliers

schedule 10 August 2020
Opr./edited by NN

The amount of absorbed retail space in Sofia in H1 decreased by 30 pct compared to H2 2019 to just over 9,000 sqm, according to Colliers International.

Investment & finance

SLOVAKIA Slovak investment weathers the storm

schedule 10 August 2020
Opr./edited by NN

The H1 2020 investment volume in Slovakia reached EUR 432 mln – a 66 pct increase on the same period last year, according to CBRE.

Public buildings

SERBIA Sava Centar on sale for EUR 27.42 mln

schedule 07 August 2020
Nathan North
deputy editor

The City of Belgrade has put the Sava Centar congress hall up for auction with a starting price of EUR 27.42 mln.

Public buildings

LATVIA Corner House in Riga up for sale

schedule 07 August 2020
Opr./edited by NN

VNĪ, the Latvian state real estate company, is putting up for sale Tetera House (or the Corner House) in Riga.

Investment & finance

ROMANIA Romanian investment shakes off sluggishness

schedule 07 August 2020
Nathan North
deputy editor

Around EUR 408 mln was transacted on Romanian in H1 2020 – an 18 pct y-o-y increase, despite the pandemic, according to Colliers International’s latest Romanian market update.

Office & mixed-use development

HUNGARY Skanska to begin H20ffices in Budapest

schedule 07 August 2020
Opr./edited by NN

Skanska has announced that it will be starting work on its H2Offices development in central Budapest this quarter.

Latest in Office & mixed-use development

schedule 13 August 2020

Park Lane offices reach shell stage

The ceremony has taken place to mark the completion of the shell-stage of the Park Lane Office Center in Sofia.

schedule 12 August 2020

Kajima completes Oponeo HQ

Kajima Poland has completed the extension and reconstruction of the Bydgoszcz headquarters of tyre e-retailer Oponeo.pl.

schedule 12 August 2020

Polish office market surviving but set for a correction – C&W

The total office stock in Poland’s nine largest cities grew by 6 pct y-o-y in H1 2020, despite the lockdown, according to research by Cushman & Wakefield.

schedule 10 August 2020

Pretty unvacant in the TriCity

The TriCity office market now has the lowest vacancy of all the major cities in Poland, according to Walter Herz.

schedule 07 August 2020

Skanska to begin H20ffices in Budapest

Skanska has announced that it will be starting work on its H2Offices development in central Budapest this quarter.

schedule 07 August 2020

BGK finds the right Alchemia

Bank Gospodarstwa Krajowego (BGK) has leased 550 sqm of office space for its new regional office in the Aurum building in the Alchemia complex in Gdańsk.

schedule 06 August 2020

Shared offices with added spice

Chillispaces.com, a new brand of serviced offices, is being launched in Poland.

schedule 05 August 2020

TriCity for the tenants

The TriCity office market is likely to become a tenant’s market soon due to the changing market environment, according to ‘Occupier Economics: the Office Market in the TriCity in H1 2020’ report by real estate advisory firm Cresa Poland.

schedule 04 August 2020

Sollers strolls into Officyna

Sollers Consulting has opened its fourth Polish office – in the Officyna complex in Gdańsk.

schedule 03 August 2020

Better H1 for regional office markets - JLL

The office markets in Poland’s major regional cities enjoyed a better H1 than a year earlier, despite the pandemic and the expected slowdown, according to JLL.

schedule 03 August 2020

Globalworth shows resilience to pandemic

Globalworth leased 115,500 sqm of commercial space in H1 (taken-up or extended) at a weight average leasing term of 3.2 years. Renewals accounted for 74 pct the leasing activity.

schedule 31 July 2020

American firm conducted to The Light

Phoenix-based integrated circuit manufacturer ON Semiconductor has leased 3,200 sqm of office space in The Light One in the Politehnica district of central Bucharest.

schedule 30 July 2020

Warsaw office market back – to embracing the new normal

According to JLL’s latest summary, the Warsaw office market is now returning to the “new normal” as employees gradually return to their workplaces. Covid-19 has had a transformative effect, but rather in terms of accelerating existing trends, such as desk-sharing and greater use of technology.

schedule 30 July 2020

Developers still confident about Kraków offices - Cresa

The leasing transaction volume reached almost 52,600 sqm on the Kraków office market in Q2 2020, according to Cresa Poland.

schedule 30 July 2020

Skanska starts work at Wilanowska

Skanska is starting the construction work on its P180 office development in Warsaw’s Mokotów district.

schedule 29 July 2020

CitySpace expanding in four cities

Flexible office operator CitySpace has been expanding its network of office centres in four Polish cities.

schedule 28 July 2020

Skanska moves to Tischnera

Skanska SA has leased 500 sqm for its Kraków branch in Tischnera Office, a building developed by Cavatina Holding.

schedule 28 July 2020

Bayer goes to BudaPart City

Multinational pharmaceutical company Bayer Hungária has signed a lease agreement for 3,200 sqm – an entire floor – of the BudaPart City office building in Budapest XI.

schedule 27 July 2020

Office demand in the regions still holding up - Colliers

At the end of Q2 2020 the total modern office stock in Poland’s eight largest regional cities amounted to 5.6 mln sqm, according to figures published by Colliers International.

schedule 27 July 2020

AmRest to move Polish HQ to Centrum Południe

AmRest, the operator of the KFC, Pizza Hut, Burger King and Starbucks franchises in Poland, is moving its head office in the country to Centrum Południe in Wrocław.

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