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Europe Europe goes flex

Office & mixed-use development
European markets with low levels of existing flexible workspace have seen the greatest growth in new flex operations over the first half of 2020, according to the latest flexible workspace report by global real estate advisor Colliers International.

Hamburg, Vienna, Moscow and St. Petersburg saw relatively strong flexible workspace take-up levels during the first half of 2020, accounting for up to 30 pct of total office take-up, according to the Flex Forward report released by Colliers International. Around 162,000 sqm of new flexible workspace opened bringing its modern office space to just under 2 pct across the EMEA region. While the expansion has slowed, it nonetheless grew by 1.6 pct in the first half of 2020.

Throughout the last five years, the supply of flexible workspace in the region has accelerated three-fold. Although WeWork and IWG are significant players in the market, their dominance is being challenged by the growing number of multi-market and multi-site operators and owner-operators. There are more than 1,300 operators providing workspace in more than 3,300 locations across the 42 markets surveyed in the report.

The office has been a key focal point of the pandemic as across the world people have suddenly found themselves working in a new environment, usually at home on their kitchen tables or in dedicated home offices. While the flexible workspace sector has not been immune to the effects of the pandemic there is no need for concern around a sector demise. Instead, we are seeing occupiers’ real estate practices becoming more modern and occupiers looking to utilise flexible solutions in the industry to tackle short, as well as medium-term challenges. Landlords are also increasingly enquiring about how they can diversify their asset offerings in this market, indicating that there will be further growth in the sector over the next year or so.
Tom Sleigh, head of flexible workspace consultancy at Colliers International

Take up data for H1 2020 has shown an increase in flexible workspace demand for inner-city locations to 52 pct compared to only 38 pct over 2018-19. Likewise, demand increased for suburban areas to 16 pct, compared to 12 pct in previous years.

Latest news

Investment & finance

CEE REGION CTP raises EUR 400 mln in second green bond issue

schedule 01 December 2020
Nathan North
deputy editor

Czech industrial developer CTP carried out its second, EUR 400 mln, green bond issue on November 27th.

Warehouse & industrial

POLAND Rockwell stays put in Katowice

schedule 01 December 2020
Nathan North
deputy editor

Rockwell Automation has extended its lease of warehouse and office space in a complex owned by Aviva Investors in Katowice.

Warehouse & industrial

POLAND Castorama stays in Stryków

schedule 30 November 2020
Opr./edited by NN

Home improvement goods retailer Castorama has renewed its 50,000 sqm lease at Prologis Park Stryków II, on Łódź’s north-eastern outskirts.

Warehouse & industrial

POLAND ELI buys site for City Logistics Wrocław North

schedule 30 November 2020
Opr./edited by NN

European Logistics Investment, a platform managed by Griffin Real Estate, has acquired two warehouse facilities and a 13 ha development site in Wrocław. Together with its strategic partner Panattoni, it plans to further develop the site through the construction of the 45,000 sqm City Logistics Wrocław North.

Investment & finance

EUROPE Savills IM partners with Vestas for EUR 226 mln logistics fund

schedule 30 November 2020
Nathan North
deputy editor

Savills Investment Management and Vestas Investment Management haves launched The Vestas European Strategic Allocation Logistics Fund (VESALF I).

Investment & finance

CZECH REPUBLIC IBC finally sold to Generali

schedule 30 November 2020
Nathan North
deputy editor

Generali Real Estate has finalised the acquisition of International Business Centre in central Prague for an undisclosed sum

Eurobuild Awards

POLAND Maciej Dyjas – nominee for the Real Estate Personality of the Year

schedule 14 November 2020
Eurobuild Conferences

Each year Eurobuild has the privilege to pick out a select few who have stood out from other players on the real estate market and nominate them for the Personality of the Year in Commercial Real Estate Award. So who are this year’s candidates, what’s their recipe for success and what has paved their way on the road to the summit?

Office & mixed-use development

POLAND Global medical firm moves into Warsaw Hub

schedule 27 November 2020
Nathan North
deputy editor

Medical equipment producer Sol - Millennium has leased more than 400 sqm at The Warsaw Hub in Warsaw.

Property and Facility Management

Poland Colliers to manage for DSV

schedule 27 November 2020
Opr./edited by AH

Colliers International, a leading commercial real estate advisory firm, has taken over the management of the DSV International Shared Service Centre on the corner of ul. Marynarska and ul. Taśmowa in Warsaw.

Office & mixed-use development

Romania Țiriac Imobiliare goes for Well Health and Safety

schedule 27 November 2020
Opr./edited by AH

Țiriac Imobiliare will be the first developer to apply for the Well Health-Safety standard in Romania for its entire portfolio.

Green projects

Poland Żabka goes green

schedule 27 November 2020
Opr./edited by AH

Convenience store Żabka has opened a store on ul. Lewandów in Warsaw to showcase all the latest ecologically sustainable technology systems.

Office & mixed-use development

POLAND Ashland in Atrium Centrum

schedule 26 November 2020
Opr./edited by NN

Ashland Poland has leased almost 1,100 sqm in Atrium Centrum in Warsaw city centre.

Office & mixed-use development

POLAND Mogilska 43 reaches 90 pct

schedule 26 November 2020
Opr./edited by NN

A consulting company has leased 1,200 sqm of office space in the Mogilska 43 Office in Kraków.

Warehouse & industrial

CZECH REPUBLIC Panattoni park at former Teplice glassworks

schedule 26 November 2020
Opr./edited by NN

Panattoni has begun the construction of a new industrial park on the site of the former Kavalier glassworks in Hostomice near Teplice in Central Bohemia.

Interior design

HUNGARY MadiLancos designs own offices in ZenGarden

schedule 26 November 2020
Nathan North
deputy editor

Hungarian architectural and design firm MadiLancos Studio has leased 400 sqm for its new head office in the recently refurbished ZenGarden building in Budapest.

Property and Facility Management

POLAND L&P gets into PM with Népliget Center

schedule 26 November 2020
Nathan North
deputy editor

Real estate asset manager and advisor Lodge & Partners has established a property management division in Hungary, with Népliget Center in Budapest to be the first property managed by the new unit.

Events

POLAND Cautious optimism at The 26th Annual Property Market Conference in Poland

schedule 26 November 2020
Eurobuild Conferences

Eurobuild CEE's 26th Annual Property Market Conference in Poland took place on November 25th. And to sum up the tone of the discussions, it could be said that the general mood was one of cautious optimism.

Residential

POLAND Echo Investment plans urban redesign for Służewiec

schedule 25 November 2020
Nathan North
deputy editor

Echo Investment, in cooperation with BBGK Architekci, has unveiled its concept for a new residential quarter in Warsaw’s Służewiec district.

Warehouse & industrial

POLAND Pure Ice from MLP Pruszków II

schedule 25 November 2020
Nathan North
deputy editor

Pure Ice, Poland’s largest ice cube manufacturer, has leased 3,500 sqm of warehouse and office space in MLP Pruszków II.

Retail & leisure

POLAND HopStop sold to LCP Properties

schedule 24 November 2020
Nathan North
deputy editor

The HopStop convenience retail park in Siedlce has been sold by Polish developer Katharsis Development to UK investor LCP Properties for an undisclosed sum.

Latest in Office & mixed-use development

schedule 27 November 2020

Global medical firm moves into Warsaw Hub

Medical equipment producer Sol - Millennium has leased more than 400 sqm at The Warsaw Hub in Warsaw.

schedule 27 November 2020

Țiriac Imobiliare goes for Well Health and Safety

Țiriac Imobiliare will be the first developer to apply for the Well Health-Safety standard in Romania for its entire portfolio.

schedule 26 November 2020

Ashland in Atrium Centrum

Ashland Poland has leased almost 1,100 sqm in Atrium Centrum in Warsaw city centre.

schedule 26 November 2020

Mogilska 43 reaches 90 pct

A consulting company has leased 1,200 sqm of office space in the Mogilska 43 Office in Kraków.

schedule 20 November 2020

Generali enters the Matrix

GTC Group has signed a lease agreement with insurer Generali for over 2,500 sqm of modern office space in the Matrix B building in Zagreb.

schedule 20 November 2020

Ghelamco starts Craft work

Ghelamco has begun the construction of the Craft office building at the junction of ul. Chorzowska and ul. Ściegiennego in Katowice near the Silesia City Center shopping centre.

schedule 19 November 2020

UL comes to Bolero Office Point

UL International Polska has opened a research and certification centre in Bolero Office Point 2.

schedule 17 November 2020

GLP enters ZenGarden

Warehouse investor and developer GLP Hungary has moved its head office to the ZenGarden building in Budapest.

schedule 13 November 2020

Mennica Legacy Tower ready to go

Mennica Legacy Tower in Warsaw’s Wola-Centrum district has received its occupancy permit.

schedule 12 November 2020

Spaces in Wave

At the beginning of the second quarter of 2021, Spaces from the IWG group will launch its first TriCity coworking office in the Wave office building developed by Skanska in Gdańsk.

schedule 12 November 2020

Manpower chooses The Light One

Workforce solutions company ManpowerGroup has leased 1,063 sqm for its new country head office in The Light One office building in Bucharest.

schedule 10 November 2020

Lawyers come to Brama Miasta

Baker McKenzie Krzyżowski i Wspólnicy, one of the largest law firms in Poland, is to move Brama Miasta in Łódź in March next year.

schedule 10 November 2020

Bucharest offices recover from Covid

Over the first nine months of the year a total of 124,000 sqm was delivered to the market in Bucarest, according to real estate consultancy Cushman & Wakefield Echinox.

schedule 09 November 2020

Sofia office market contracts

The total stock of modern office space in Sofia stood at 2.184 mln sqm at the end of Q3, according to figures from MBL.

schedule 06 November 2020

Vodafone sticks with Aréna Corner for regional centre

Vodafone Intelligent Solutions (VOIS) has decided to extend its lease in Aréna Corner in Budapest for more than ten years.

schedule 06 November 2020

Another tenant for Budapest One

Cloud Contact Center software provider VCC Live is moving its headquarters to the Budapest One Office Park, which is being developed by Futureal Group.

schedule 06 November 2020

Warsaw sees rents fall and vacancies rise

Over 238,000 sqm of office space was delivered to the Warsaw office market in the first three quarters of 2020, according to figures from Cushman & Wakefield.

schedule 06 November 2020

CBRE to commercialise Dor Plaza

CBRE is to commercialise the Dor Plaza office building in Warsaw's Okęcie district. The seven-storey office building with around 13,000 sqm of office space is to be delivered in H1 2022.

schedule 05 November 2020

Árpád Center area renewed

A stylish, accessible and green community space has been created on the Váci Office Corridor around the Árpád Center office building in Budapest.

schedule 05 November 2020

NTT to open global centre in Business Garden Bucharest

Global technology services company NTT Ltd has leased more than 2,300 sqm in Business Garden Bucharest for its new global shared services centre.

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