PL

Time to buy groceries

Retail & leisure
The food sector is becoming the core for retail property investment, claim Savills in its latest 'European Food and Groceries Sector' report.

Last year, for the first time, investment in supermarkets, hypermarkets and food discount stores accounted for 21 pct of total European retail activity, up from a five year average of 7 pct. Despite the decline of retail sales growth in Europe in 2020 down from 3.9% in 2019 to 1.7 pct, food and grocery sales increased by 7.5 pct, and are expected to continue to rise by 2.2 pct per annum over the next five years. Investor competition has led to yield compression, with the prime average supermarket yields in Europe moving in from 5.7 pct to 5.4% by the first quarter of this year.

The defensive characteristics and the operational resilience of the sector will continue to attract an increasing number of buyers. Some product may come on the market through sale-and-leasebacks, but overall supply may not be able to meet demand. In view of the intensifying bidding war, we expect prime yields to move in further over the year.
George Coleman, regional investment advisory associate at Savills EMEA

The grocery real estate sector is also attracting rising investor interest in Poland. Tesco has recently agreed to sell its stores to pull out of the country but, irrespective of these transactions, such properties are clearly the most sought-after retail asset class, especially given the operational restrictions on shopping centres and their relatively attractive yields. Both institutional and private investors are looking for large stand-alone hypermarkets, food discount stores and smaller convenience outlets. There are several transactions pending in this segment, including a portfolio deal worth close to EUR 100 mln. With investor sentiment moving towards this asset class, supply constraints are gradually becoming a challenge.
Marek Paczuski, Investment Director at Savills Poland

Latest news

Investment & finance

Romania One raises EUR 50 mln in private placement

schedule 14 June 2021

Private equity investment firm CC@ONE Properties Invest has completed a private placement of a senior secured bond worth EUR 50 mln.

Property and Facility Management

Poland Cushman takes on Atrium 2

schedule 14 June 2021

Global real estate services firm Cushman & Wakefield has been appointed leasing agent for office building Atrium 2 in Warsaw owned by German investment fund Hansainvest Hanseatische Investment.

Office & mixed-use development

Poland Lakeside to be ready in Q3 2023

schedule 14 June 2021

JLL has been appointed the exclusive agent responsible for the lease of the Lakeside office building under development by Atenor.

Technology

Poland Atrium work ten times quicker

schedule 14 June 2021

Atrium Poland Real Estate Management is to work with Pergamin, a Polish startup that allows contracts to be signed with digital signatures. In this way, the leasing of 14 of Atrium’s centres will be up to ten times quicker.

Events

Poland The office market gathers for our latest conference

schedule 14 June 2021

Eurobuild’s 12th Office Conference ‘Trends and Forecasts. The Polish Office Market’ is fast approaching! This Thursday at 9:30 am, it will open with a panel devoted to the office development market and the revolution triggered by the pandemic.

Office & mixed-use development

ROMANIA Pharma firm to continue in Europe House

schedule 14 June 2021
Opr./edited by NN

Biopharmaceutical company Bristol Myers Squibb România has extended its lease of 1,200 sqm in the Europe House office building in central Bucharest.

Warehouse & industrial

ROMANIA Havi to open 21,000 sqm centre in Chitila Logistics Hub

schedule 14 June 2021
Opr./edited by NN

Havi Logistics is to open a 21,000 sqm distribution centre in Chitila Logistics Hub on the northwestern outskirts of Bucharest.

Office & mixed-use development

POLAND WestRock lands in Sienna Center

schedule 14 June 2021
Opr./edited by NN

Paper and packaging producer WestRock has become the latest tenant of Sienna Center in Warsaw, leasing 400 sqm on the second floor of the office building.

Retail & leisure

CZECH REPUBLIC Fidurock now the sole owner of Retail Park Choceň

schedule 14 June 2021
Opr./edited by NN

Fidurock has become the 100 pct owner of Retail Park Choceň in the Pardubice region (Eastern Bohemia), through the acquisition of the 50 pct stake held by its local development partner for the project, PH Project.

Investment & finance

HUNGARY Fosun buys BC 140 – via Fidelidade

schedule 14 June 2021
Nathan North
deputy editor

In May we published the news that the BC 140 office building in Budapest is to be sold by German fund DWS to Resolution Property, following announcements by the agents involved in the deal.

Office & mixed-use development

Poland Ciech opens SSC centre in Bydgoszcz

schedule 11 June 2021

International chemicals group Ciech is to open a shared service centre in the Arkada Business Park in Bydgoszcz.

Warehouse & industrial

Poland Arvato in Prologis Park Poznań III

schedule 11 June 2021

Logistics services provider Arvato Supply Chain Solutions is to open a new 48,000 sqm order fulfilment centre in a BTS building in Prologis Park Poznań III.

Office & mixed-use development

Poland Basketball association in Wola Retro

schedule 11 June 2021

The Polish Basketball Association [Polski Związek Koszykówki] has leased space in the Wola Retro centre in Warsaw.

Office & mixed-use development

Poland Gamers in O3

schedule 11 June 2021

Locally-based computer game developer Teyon has signed a five-year lease for 500 sqm in the O3 Business Campus in Kraków.

Property and Facility Management

Poland Colliers takes on Neon

schedule 10 June 2021

Colliers has taken over the management of the Neon office building, which comprises the fourth stage of the Alchemia business complex in Gdańsk.

Residential

Poland Resi4Rent opens in Gdańsk

schedule 10 June 2021

Rental apartment platform Resi4Rent has opened its seventh building with 301 units on ul. Kołobrzeska in Gdańsk.

Warehouse & industrial

Poland Museum of Modern Art to lease Hillwood warehouse in Warsaw

schedule 10 June 2021

The Museum of Modern Art (MSN) in Warsaw is to lease 2,000 sqm of space in the Hillwood Warszawa Targówek warehouse centre.

Investment & finance

CENTRAL EUROPE Immofinanz strikes back with ‘facts’ at S Immo

schedule 10 June 2021
Nathan North
deputy editor

Immofinanz has responded to the recent rejection of its takeover bid for S Immo from the latter company’s executive board.

Office & mixed-use development

POLAND Topping out for two at Fuzja

schedule 09 June 2021
Nathan North
deputy editor

Two office buildings have been topped out in Echo Investment’s Fuzja development in Łódź. Occupancy permits are expected to be obtained for the buildings in Q1 2022.

Warehouse & industrial

SLOVAKIA XXXLutz leases 6,000 sqm at P3 Bratislava Airport

schedule 09 June 2021
Opr./edited by NN

Austrian furniture retail chain XXXLutz group has leased 6,000 sqm at P3 Park Bratislava Airport.

Latest in Retail & leisure

schedule 14 June 2021

Fidurock now the sole owner of Retail Park Choceň

Fidurock has become the 100 pct owner of Retail Park Choceň in the Pardubice region (Eastern Bohemia), through the acquisition of the 50 pct stake held by its local development partner for the project, PH Project.

schedule 28 May 2021

Fashion House opens second Bucharest outlet centre

Fashion House Group has opened a new outlet centre in Pallady, east of Bucharest. The EUR 25 mln investment is the group’s second outlet centre in the Romanian capital.

schedule 20 May 2021

Vendo opens in four more towns

Trei Real Estate G has just opened four new retail parks under the Vendo Park brand in Poland.

schedule 18 May 2021

Immofinanz to renew VIVO! Baia Mare

Immofinanz has announced that it will begin refurbishing the VIVO! Baia Mare shopping centre on 1st June.

schedule 14 May 2021

Trei continues with Vendo expansion

Trei Real Estate Poland has opened three new Vendo retail parks in May in Myśliborz, Koszalin and Piekary Śląskie.

schedule 13 May 2021

Shopping to come back

Shopping centre footfall in February, prior to the fourth lockdown, averaged around 80 pct of last year’s levels so shoppers are going to return to shopping centres once restrictions have been lifted, write Cushman & Wakefield.

schedule 13 May 2021

LCP buys Green Park

LCP Properties has added another retail park to its Polish portfolio – this time in Rawa Mazowiecka.

schedule 13 May 2021

More catering for Funshop customers

Polish company Scallier has signed a number of lease agreements with food and beverage tenants for two retail parks of its Funshop Park network in Romania.

schedule 11 May 2021

Retail parks dominate new supply

Close to 70,000 sq m of new retail space was delivered to the Polish market in Q1 2021, according to Cushman & Wakefield.

schedule 10 May 2021

Dino expands rapidly

At the end of March 2021, the Dino network numbered 1,532 stores, up 298 compared to March 2020.

schedule 07 May 2021

Vendo opens in Myśliborz

Trei Real Estate has opened a 4,000 sqm Vendo retail park in Myśliborz.

schedule 07 May 2021

Renoma renewed

Globalworth, the owner and property manager of Renoma in Wrocław, has chosen Tétris as the general contractor for the renovation of the shopping centre, which has now started in time for the building’s 91st anniversary.

schedule 06 May 2021

Time to buy groceries

The food sector is becoming the core for retail property investment, claim Savills in its latest 'European Food and Groceries Sector' report.

schedule 06 May 2021

Makeover for Campona

By the end of 2021, the interior of the Campona shopping centre in South Buda will have been renovated and the entire renovation project will be completed in early 2022.

schedule 26 April 2021

Carrefour stays on in Morski Park

Carrefour has extended its 8,300 lease in Morski Park Handlowy in Gdańsk for another five years.

schedule 23 April 2021

First to open of seven

Trei Real Estate Poland has opened a Vendo retail park in Zielonka, just outside Warsaw.

schedule 23 April 2021

Sinsay to open biggest store in Tarnów

Fashion brand Sinsay, which is owned by LPP group, has signed a lease agreement to open a store of more than 900 sqm in the CH Max shopping centre in Tarnów, in southern Poland.

schedule 19 April 2021

Retail soldiers on

Despite Covid having had a major impact on the retail market, the first quarter of 2021, with a preliminary investment volume estimate of around EUR 190 mln, was the second strongest first quarter of a year since 2015, writes JLL in its latest retail report

schedule 19 April 2021

Three stores for Spar

Spar Hungary has opened a new store in Budapest and modernised two supermarkets: one in East-Budapest and one in Eger as part of its ongoing expansion programme.

schedule 13 April 2021

Trei busy building Vendo Parks

Trei Real Estate Polska is currently constructing six Vendo Park retail parks with a combined area of 26,000 sqm.

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