PL

POLAND TriCity for the tenants

Office & mixed-use development
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.

The authors of the report insist, however, that the TriCity is still attractive for the BPO/SSC/GBS sector, while its seaport and transport infrastructure are a magnet for sea freight operators.

The H1 data for the TriCity market indicates that there is no sudden slowdown in sight. Although the size of transactions is lower than a year ago, the vacancy rate remains at the June 2019 level. The coming quarters will be decisive – they will show whether the market will be able to absorb the new supply, which is expected to be high in the TriCity. Almost 100,000 sqm is currently under construction, with more than 23,000 sqm due for completion this year.
Michał Rafałowicz, the head for the Pomeranian region at Cresa Poland

Three new office buildings were added to the market in Q2 2020: Olivia Prime B (25,000 sqm, Olivia Business Centre), Rzemieślnicza 15 (2,500 sqm, ODDK) and Lastadia 2 (2,400 sqm, Gdańskie Wody).

At the end of H1, the total office stock in the TriCity amounted to 868,400 sqm, up by 9.6 pct y-o-y. The projects underway include Format (Torus), the first phase of Palio (Cavatina) and Airport City Gdańsk Alpha (Gdańsk Airport).

Office take-up reached almost 18,600 sqm in Q2, while the total leasing volume approached 52,000 sqm and absorption came to 18,100 sqm. The increase in vacant space was compensated by the high level of new supply in the second quarter.
Bolesław Kołodziejczyk, the head of research and advisory at Cresa Poland

Renegotiations accounted for 60 pct of all deals, followed by new leases (27 pct) and expansions (13 pct). The largest transactions in H1 included a new lease to a confidential tenant of 12,100 sqm in the Alchemia IV (Neon) building, a renegotiation of 6,500 sqm by Nordea in the Tensor Z building, and a new lease of 4,500 sqm signed by New Work in Alchemia IV (Neon).

At the end of June, the city’s vacancy rate stood at 6.1 pct, which is 1.1 pp
higher than the average for the previous four quarters.

Monthly asking rents range between EUR 13– 6 per sqm for prime office buildings and EUR 10–12 for lower category buildings.

Latest news

Hotels

EUROPE Convivio finalises five-star portfolio buy

schedule 21 September 2020
Nathan North
deputy editor

Convivio Hotels has completed the EUR 573 mln acquisition of eight of the five-star hotels in the pan-European Dedica Anthology portfolio from Värde Partners.

Property and Facility Management

POLAND CPI managing Concept by itself

schedule 21 September 2020
Opr./edited by NN

CPI Property Group has taken over the management of Concept Tower in central Warsaw, following its recent acquisition of the property.

Warehouse & industrial

POLAND More packed in at Hillwood Marki

schedule 21 September 2020
Opr./edited by NN

Hurtownia Opakowań has increased the warehouse space it leases in Hillwood Marki to 4,500 sqm.

Investment & finance

CZECH REPUBLIC Portivo picks up Brno Mall

schedule 21 September 2020
Nathan North
deputy editor

Czech investment group Portiva and Micronix have bought the Central Kladno shopping centre in Brno from Crestyl for CZK 2 bln (app. EUR 74.8 mln).

Investment & finance

CZECH/ SLOVAKIA/ UK Vesa starts buying at Sainsbury’s

schedule 21 September 2020
Nathan North
deputy editor

Prague-based Vesa Equity Investment has announced the acquisition of a 3.05 pct share in British supermarket chain Sainsbury’s, becoming its fourth largest shareholder.

Investment & finance

POLAND Madison buys Chmielna 89 stake

schedule 18 September 2020
Nathan North
deputy editor

A fund managed by US investor Madison International Realty has bought a 65 pct stake in the newly completed Chmielna 89 office project in central Warsaw from Cavatina Holding.

Office & mixed-use development

POLAND West 4 Business Hub up and running

schedule 18 September 2020
Nathan North
deputy editor

Echo Investment has put into use the first stage of the West 4 Business Hub office complex in Wrocław.

Warehouse & industrial

POLAND Panattoni launches work on third Bydgoszcz park

schedule 17 September 2020
Opr./edited by NN

Construction work has begun on Panattoni Park Bydgoszcz III, the first tenant of which is to be electronic equipment servicing company Reconext.

Events

Poland Monika Żywiecka triumphs in the women’s singles!

schedule 17 September 2020
Eurobuild Conferences

The 15th Annual Eurobuild CEE Tennis Tournament endedin the best possible fashionfor Monika Żywiecka of Oakbridge Capital Advisors, with her victory in the women’s singles final.

Warehouse & industrial

POLAND Phoenix charges into Rzeszów

schedule 17 September 2020
Nathan North
deputy editor

The topping out ceremony has taken place for a 15,000 sqm BTS facility being developed by Panattoni for Phoenix Contact E-Mobility in Rzeszów.

Green projects

ROMANIA Funshop Parks to be green parks

schedule 17 September 2020
Opr./edited by NN

Polish company Scallier, which is developing the Funshop Park chain of retail parks in Romania, has opted to obtain BREEAM certification for all its new parks.

Investment & finance

CENTRAL EUROPE Trei takes out EUR 54 mln loan from Helaba

schedule 17 September 2020
Opr./edited by NN

Düsseldorf-based retail park developer Trei Real Estate has been granted an unsecured EUR 42 mln loan from German bank Helaba.

Events

POLAND Krzysztof Stempień retains his crown and adds another

schedule 16 September 2020
Eurobuild Conferences

Last year when he played for the first time at the Eurobuild tennis tournament he caused something of a sensation when he beat all his rivals. Even then, Krzysztof Stempień of Cresa fearlessly faced a strong field, many of whom were regular faces at the tournament, to turn the ranking table on its head.

Warehouse & industrial

POLAND Accolade flies into Szczecin Airport

schedule 16 September 2020
Opr./edited by NN

Accolade has revealed that it is investing EUR 21.3 mln in Panattoni Park Szczecin Airport in Goleniów on the outskirts of the city

Office & mixed-use development

POLAND Arty experience in the Factory

schedule 16 September 2020
Opr./edited by NN

The Art Box Experience, the first fully interactive and digital art gallery in Poland, is to open in Norblin Factory in Warsaw.

Warehouse & industrial

POLAND DHL and DL join forces in Silesia

schedule 16 September 2020
Opr./edited by NN

DL Invest Group and DHL Supply Chain Polska are to jointly develop the DL Invest Park Psary logistics centre in Psary in Silesia.

Events

POLAND Monopolis and Granaria triumph at MIPIM Awards

schedule 16 September 2020
Nathan North
deputy editor

Two Polish developments are among the twelve winners at the MIPIM Awards 2020, which were presented in Paris on September 15th.

Office & mixed-use development

POLAND Full growth of first part of the Forest

schedule 15 September 2020
Opr./edited by NN

HB Reavis has topped off the lower building of its Forest development in Warsaw.

Office & mixed-use development

ROMANIA Siemens and NTT lease half of AFI Park Brașov I

schedule 15 September 2020
Opr./edited by NN

AFI Europe Romania has announced that it has leased 55 pct of AFI Park Brașov to Siemens and NTT Data Services.

Warehouse & industrial

ROMANIA JV leases 75,000 sqm in CTP Bucharest West

schedule 15 September 2020
Nathan North
deputy editor

A joint venture between Maersk and IB Cargo has leased 75,000 sqm in CTPark Bucharest West, which is to be used as a distribution centre for Ikea Supply AG.

Latest in Office & mixed-use development

schedule 18 September 2020

West 4 Business Hub up and running

Echo Investment has put into use the first stage of the West 4 Business Hub office complex in Wrocław.

schedule 16 September 2020

Arty experience in the Factory

The Art Box Experience, the first fully interactive and digital art gallery in Poland, is to open in Norblin Factory in Warsaw.

schedule 15 September 2020

Full growth of first part of the Forest

HB Reavis has topped off the lower building of its Forest development in Warsaw.

schedule 15 September 2020

Siemens and NTT lease half of AFI Park Brașov I

AFI Europe Romania has announced that it has leased 55 pct of AFI Park Brașov to Siemens and NTT Data Services.

schedule 15 September 2020

Vodafone moves HQ to Budapest One

Vodafone Hungary is to move its headquarters into the Budapest One business park in autumn 2022.

schedule 11 September 2020

Poznań's tallest tower begins to rise

Von der Heyden Group has announced the start of the construction of Andersia Silver, Poznań’s tallest class A office building.

schedule 09 September 2020

One Cotroceni Park receives EUR 25 mln injection

One United Properties has raised EUR 25 mln for further investment in its One Cotroceni Park mixed-use project in Bucharest.

schedule 09 September 2020

Bog'Art for Miro

Belgian developer Speedwell has appointed local firm Bog’Art as the general contractor for its Miro office project in Bucharest’s northern Băneasa district.

schedule 07 September 2020

Cavatina buys Widzewska Manufaktura in Łódź

Cavatina Holding has bought the Widzewska Manufaktura revitalisation project in Łódź for a reported PLN 400 mln.

schedule 04 September 2020

Nordic Light Trio sees light of day

Skanska has completed the Nordic Light Trio office building in Budapest.

schedule 03 September 2020

Warsaw West the next office hub?

Axi Immo has identified the area around the Warsaw West (Warszawa Zachodnia) railway station as a potential future office hub for the city.

schedule 03 September 2020

Balance Hall officially opens

The official opening has taken place for CPI Hungary’s Balance Hall office building on Budapest’s Váci út office corridor.

schedule 31 August 2020

Allegro drives into Norblin

Polish online e-commerce platform Allegro has leased almost nearly 16,200 sqm in Capital Park’s Norblin Factory mixed-use development in Warsaw, making it the largest tenant of the complex.

schedule 31 August 2020

Gateway for better hearing

Swiss hearing aid producer Sonova Group has leased space in the Gateway Office Park in Budapest.

schedule 28 August 2020

Mobility hub opens in the Wave

City Hub, the TriCity’s first shared mobility hub, has opened in the newly completed A building of the Wave office complex in Gdańsk’s Oliwa district.

schedule 27 August 2020

SoftwareOne goes Retro

Swiss company SoftwareOne has leased 570 sqm in the Wola Retro office building in Warsaw.

schedule 21 August 2020

Victoriei 109 ready to face the world again

Hagag Development Europe has finished the refurbishment and conversion work on its H Victoriei 109 office project on Calea Victoriei in central Bucharest.

schedule 19 August 2020

Savills to lease all Atrium mall offices

Savills has been appointed by Atrium European Real Estate as the sole leasing agent for the office space in all the shopping centres owned by the fund in Poland.

schedule 18 August 2020

Centrum Południe ready for occupation

Skanska has completed the first stage of the Centrum Południe office complex in Wrocław.

schedule 18 August 2020

Alstom Komstal renews WFC lease for CEE head office

Rail vehicle producer and servicer Alstom Konstal has renewed its lease of office space in the Warsaw Financial Center, where its sales office is located.

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