PL

Investment down but not out

Investment & finance
The investment volume on the Polish commercial property market is estimated to have reached EUR 1.05 bln in Q3 2020.

According to figures from Savills, the industrial sector accounted for around 70 pct of the total.

Industrial investment climbed to a preliminary estimate of around EUR 740 mln in Q3 2020, accounting for a vast majority of the total investment over the period. Savills expect that the total share in investment held by the industrial sector will turn out to be higher once the final data for Q3 has been collated.

The industrial sector has already posted the strongest annual performance ever. Its previous high of EUR 1.8 bln was recorded in 2018. Logistics investment has already hit almost EUR 1.9 bln so far this year, accounting for about half of the total investment activity on the commercial property market. The industrial sector also saw an almost 200 pct increase in the transaction volume over Q1-Q3 2020 compared to the same period of last year.

Investment activity in 2020 clearly shows that the industrial sector is the dominant real estate investment sector. 2020 is already a record year for warehouses which have never before posted such a good result and are likely to remain the top-performing sector in terms of commercial real estate investment volumes by the end of this year. Industrial assets have become the first choice for investors, boosting investment demand, which in turn has pushed prime yields down.
Tomasz Buras, CEO, Savills Poland

In Q3 2020, total commercial property investment across all sectors (EUR 1.05 bln) fell by around 12 pct q-o-q and was down by around 43 pct on Q3 2019. The investment volume for finalised transactions from the beginning of 2020 till the end of Q3 is estimated at around EUR 3.98 bln, down by around 14 pp on the same period last year.

The fall in investor activity in Q3 was largely due to the Covid-19 pandemic. Over Q2 the investment volume largely comprised transactions that had been begun in 2019 or early 2020. Investment in Q3 was relatively low as market players scaled down their activity during the lockdown period while the economic downturn caused by the pandemic weighed on investor sentiment.

The second-largest share of investment was taken by the office sector, which turned over app. EUR 210 mln in Q3 with around EUR 1.54 bln transacted since the beginning of the year. Investment in the retail sector remained muted coming in at around EUR 90 mln in Q3 with only EUR 535 million since January, just 13 pct of the total transaction volume and 43 pct down on the same period last year.

We anticipate that, as usual, the final quarter of the year will be a major part of the full-year investment volume. We estimate that the transaction volume is likely to be over EUR 6 bln by the end of the year, which will be a 20-25 pct year-on-year decrease. And yet, despite the challenges posed by Covid-19, it will most probably be the third-highest investment figure ever in the history of the commercial real estate investment market in Poland.
Tomasz Buras

Latest news

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

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.

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

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.

Warehouse & industrial

EUROPE Palmira launches third pan-European logistics fund

schedule 24 November 2020
Opr./edited by NN

Frankfurt-based Palmira Capital Partners has launched its third European core logistics property fund – the Palmira European Core Logistics Fund.

Hotels

HUNGARY Crowne Plaza comes to Budapest

schedule 23 November 2020
Nathan North
deputy editor

InterContinental Hotels Group has signed a management agreement with Gránit Pólus Group for the Hilton Budapest City hotel in the city centre to be re-branded as the Crowne Plaza Budapest in 2021.

Latest in Investment & finance

schedule 30 November 2020

Savills IM partners with Vestas for EUR 226 mln logistics fund

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

schedule 30 November 2020

IBC finally sold to Generali

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

schedule 23 November 2020

Resolution debuts on the Danube

London-based Resolution Property has bought two office buildings in Budapest from Hungarian fund manager Adventum: Margit Palace and Buda Square. for an undisclosed sum.

schedule 20 November 2020

Fuzja gains financing

Echo Investment has been granted a loan by Bank Pekao to construct three office buildings in the mixed-use Fuzja project on ul. Tymienickiego in Łódź.

schedule 20 November 2020

Jupiter set for Supernova

Austrian retail real estate investor Supernova has bought the Jupiter City shopping centre in Pitești from local company Mall Retail Rom, which is owned by Israeli concern Jupiter Group.

schedule 17 November 2020

Hines buys Wrocław mega-warehouse

US investor Hines has acquired 123,500 sqm logistics park in Wrocław from GLL Real Estate Partners for an undisclosed sum.

schedule 12 November 2020

Investment volume hit hard by Covid

Over Q3 2020, a transaction volume of around EUR 1 bln was traded bringing the total since the beginning of the year to EUR 4 bln, according to the latest figures from BNP Paribas.

schedule 12 November 2020

Lords makes biggest Latvian office investment transaction of 2020

Lords LB Baltic Green Fund (V) has bought an office complex housing Lativan bank Citadele's headquarters on Republikas Laukums square in Riga.

schedule 10 November 2020

Blackbrook picks up Amazon Poznań centre

London-based Blackbrook Capital has announced the acquisition of a 100,000 sqm, class A logistics facility in Poznań from GLL Real Estate Partners for an undisclosed price.

schedule 10 November 2020

Delta Holding finally buys Sava Center

Delta Holding has bought the Sava Center congress complex in Belgrade.

schedule 09 November 2020

Colliers awaits the rebound

CEE Investment volumes for the Q1-Q3 period have reached around EUR 8 bln, 12 pct down on the same period of the previous year. Poland accounted for around EUR 4 bln of that figure according to the latest figures from Colliers International. 

schedule 09 November 2020

GTC sells Spiral for EUR 41 mln

Globe Trade Centre has sold the Spiral office building in Budapest for EUR 41 mln to an undisclosed buyer.

schedule 09 November 2020

Partners Group exits Riga

Two properties in Riga, the Olimpia shopping centre and an office campus leased to SEB, have been sold to Grinvest.

schedule 05 November 2020

Colliers pleased with financial results

Colliers International Group has announced operating and financial results for the quarter.

schedule 05 November 2020

Logistics investment soars

The real estate investment volume in Q3 2020 reached around EUR 1 bln despite the measures in place with logistics accounting for the vast majority of the deals according to real estate consultancy Cushman & Wakefield.

schedule 03 November 2020

EUR 33 mln loan for Mitiska retail parks

Mitiska REIM has obtained a EUR 33 mln loan from Erste Group Bank for its four most recently developed Romanian retail parks.

schedule 03 November 2020

Erste Group recovers from Covid

Erste Group has posted a net profit of EUR 637.1 mln for the first nine months of the year.

schedule 03 November 2020

One to issue EUR 70 mln in shares

A capital increase was approved at the general meeting of shareholders of One United Properties on Monday, September 28th.

schedule 02 November 2020

CA Immo buys Postępu 14 for EUR 87 mln

CA Immo has acquired the Postępu 14 office building in Warsaw’s Służewiec business district for around EUR 87 mln from its developer HB Reavis.

schedule 02 November 2020

CEE economies down but not out

CEE Investment volumes for the Q1–Q3 period reached around EUR 8 bln – 12 pct down on the same period of 2019 

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