PL

Poland Hard times for Łódź offices

Office & mixed-use development
Total office take-up in Łódź for H1 2021 came to 8,300 sqm, down by 84 pct on the same period last year, according to the ‘Office Occupier: Office Market in Łódź’ report published by Cresa.

New leases accounted for 66 pct of the leasing volume.

Declining occupier activity and rising vacancy rates continue to be reported in Łódź. As in other large office markets across Poland, companies based there are also developing strategies to return to the office and this affects both the existing office stock and developers’ decisions to launch new projects. However, we expect that the good business climate in Łódź will contribute to an economic recovery over the coming quarters and encourage more investors to open their offices in the city.
Martyna Balcer, associate director, office department, Cresa Poland.

At the end of the first half of 2021, total office stock reached 579,400 sqm, up by 5.7 pct over the year. Although the second quarter saw no office buildings delivered to the market, the development pipeline included a number of projects including React and Monopolis M3. The largest lease agreement in H1 2021 was a pre-lease negotiated by Chillispaces in the React office building (3,500 sqm), followed by a renegotiation in Centrum Targowa 35 to an undisclosed tenant (1,500 sqm) and a renegotiation in the Alexander Plaza by ABB (1,000 sqm).

The average size of a single transaction in Łódź was just 770 sqm in the first half of 2021, with the median at 390 sqm. The total leasing volume in the past six months was the lowest this market has ever seen.
Iga Kraśniewska, Research Manager at Cresa Poland

The city’s vacancy rate continued to rise and stood at 18.3 pct at the end of June 2021. Office absorption turned negative in the first half of the year, amounting to -11,600 sqm. The second quarter saw the lowest ever absorption for the market at -8,500 sqm. Monthly headline rents stand at EUR 10.5-14.5 per sqm in the city centre and at EUR 10-13,5 per sqm outside.

Latest news

Warehouse & industrial

Czech Republic Panattoni Park Stříbro expands

schedule 21 October 2021

A fourth building is being built for a Kion Group subsidiary in Panattoni Park Stříbro.

Material partner

Europe The Happetite for MAPIC

schedule 20 October 2021
Eurobuild CEE

MAPIC 2021 returns to Cannes and will be held at the Palais des Festivals from Tuesday, the 30th of November, to Thursday, the 2nd December, 2021

Interior design

Romania New look for TCI

schedule 21 October 2021

Globalworth has refurbished the lobby of the TCI class-A office building in Bucharest.

Office & mixed-use development

Poland Stability returns to Warsaw

schedule 21 October 2021

Over the first nine months of 2021, Warsaw tenants leased 398,100 sqm, a 10 pct drop on the same period of 2020, according to the latest figures from JLL.

Office & mixed-use development

POLAND Mercure Katowice Centrum and Młyńska.6 opened

schedule 21 October 2021
Nathan North
deputy editor

The grand opening has taken place for the Mercure Katowice Centrum hotel, which has been developed in the centre of the city by UBM Development.

Warehouse & industrial

CZECH REPUBLIC Alza opens centre in GLP Chrášt’any

schedule 21 October 2021
Opr./edited by NN

Czech online retailer Alza has opened a distribution centre in GLP Park Praha Chrášt’any, about 13 km west of Prague city centre.

Investment & finance

POLAND Crossbay buys 100,000 sqm to enter Poland

schedule 21 October 2021
Nathan North
deputy editor

Crossbay has purchased 100,000 sqm of warehouse space in two sites in Warsaw and Łódź.

Green projects

Hungary Three Infopark BREEAMs for Wing

schedule 19 October 2021

Buildings B, C and I of Infopark in Budapest have been awarded BREEAM-In-Use 'Very Good' sustainability certification.

Warehouse & industrial

Poland Tech Light moves to Panattoni A2 Warsaw East

schedule 19 October 2021

Tech Light, a manufacturer and designer of LED lighting systems, has moved to Panattoni A2 Warsaw East Park near Warsaw.

Office & mixed-use development

Lithuania Vastint unveils Business Garden Vilnius

schedule 19 October 2021

Developer Vastint has completed the first 42,000 sqm stage of its Business Garden Vilnius office park development.

Office & mixed-use development

Poland Wella to move into Brama Miasta

schedule 19 October 2021

In November, beauty company Wella is to move into Brama Miasta in Łódź, where it is to set up a 1,500 sqm shared service centre, which is to include the company’s new IT Center of Excellence.

Office & mixed-use development

ROMANIA Dover enters Globalworth Plaza

schedule 19 October 2021
Nathan North
deputy editor

US industrial parts manufacturer Dover has opened a 1,170 sqm business services centre in Globalworth Plaza in Bucharest.

Office & mixed-use development

POLAND Warta takes up residence in Unit

schedule 19 October 2021
Nathan North
deputy editor

The Warsaw Unit office building has been officially opened, with Polish insurance company Warta moving in as its largest tenant.

Investment & finance

CEE REGION Gazit renews Atrium takeover offer

schedule 19 October 2021
Nathan North
deputy editor

Gazit Hercules 2020 (‘Newco’ - a wholly-owned subsidiary of Gazit-Globe) and Atrium European Real Estate have agreed terms for a proposed merger of the two companies, subject to the approval of Atrium’s shareholders.

Warehouse & industrial

CZECH REPUBLIC Prologis starts work on Ostředek park

schedule 19 October 2021
Opr./edited by NN

Construction work has started on the first distribution centre in Prologis Park Prague D1 Ostředek, about 44 km southeast of Prague city centre.

Warehouse & industrial

HUNGARY VGP enters Budapest market

schedule 18 October 2021
Opr./edited by NN

Czech-based industrial developer VGP has entered the Budapest market by purchasing a 38 ha development site in Üllő, adjacent to Budapest Ferenc Liszt International Airport.

Green projects

POLAND Excellent news for Panattoni in Świebodzin

schedule 18 October 2021
Opr./edited by NN

A BTS development that has recently been completed by Panattoni in Świebodzin with an area of 200,000 sqm has been awarded a BREEAM New Construction ‘Excellent’ certificate.

Events

POLAND ESG - environmental strategy in practice or a catchy marketing slogan?

schedule 15 October 2021
Eurobuild Conferences

Experts on environmental issues are increasingly keen to emphasise how important it is to adopt a practical approach aimed at effectively protecting the climate and the environment. The time for talking about this issue is over and we now have to put our words into practice. The clock is ticking and so we cannot remain indifferent in the face of the climate crisis.

Events

In search of new lands

schedule 15 October 2021
Eurobuild Conferences

The impressive growth rate and astronomical profits generated by the warehouse and logistics sector are attracting more and more new players to the industry, who are entering the game completely without any inhibitions. The only question is, are there any New Worlds left to be discovered in the warehouse market?

Investment & finance

POLAND EUR 111 mln refinancing loan for ELI

schedule 14 October 2021
Opr./edited by NN

European Logistics Investment (ELI) has secured an EUR 111 mln loan agreement with Berlin Hyp for the refinancing of four logistics projects in Poland.

Latest in Office & mixed-use development

schedule 21 October 2021

Stability returns to Warsaw

Over the first nine months of 2021, Warsaw tenants leased 398,100 sqm, a 10 pct drop on the same period of 2020, according to the latest figures from JLL.

schedule 21 October 2021

Mercure Katowice Centrum and Młyńska.6 opened

The grand opening has taken place for the Mercure Katowice Centrum hotel, which has been developed in the centre of the city by UBM Development.

schedule 19 October 2021

Vastint unveils Business Garden Vilnius

Developer Vastint has completed the first 42,000 sqm stage of its Business Garden Vilnius office park development.

schedule 19 October 2021

Wella to move into Brama Miasta

In November, beauty company Wella is to move into Brama Miasta in Łódź, where it is to set up a 1,500 sqm shared service centre, which is to include the company’s new IT Center of Excellence.

schedule 19 October 2021

Dover enters Globalworth Plaza

US industrial parts manufacturer Dover has opened a 1,170 sqm business services centre in Globalworth Plaza in Bucharest.

schedule 19 October 2021

Warta takes up residence in Unit

The Warsaw Unit office building has been officially opened, with Polish insurance company Warta moving in as its largest tenant.

schedule 13 October 2021

Medicover stays in Green Horizon

Medicover, one of the largest private health providers in Poland, has prolonged its lease and is to offer a wider range of services in the Green Horizon office building in Łódź.

schedule 13 October 2021

JLL to lease Craft

JLL has been appointed leasing agent for Ghelamco's Craft office building in Katowice.

schedule 06 October 2021

CMS sets its sights high in Varso Tower

Law firm CMS is to relocate its Polish branch to Varso Tower in Warsaw, where its offices (at the time of signing) are presently the highest in the country.

schedule 04 October 2021

Sii moves Romanian HQ to One Cotroceni Park

Software developer Sii Romania has leased 3,710 sqm for its new headquarters in the country in the One Cotroceni Park office building in Bucharest, which is being developed by One United Properties.

schedule 30 September 2021

Radio comes to Norblin

Internet radio station newonce.radio will move to the Verit building in the Norblin Factory development.

schedule 23 September 2021

Torus starts work on Punkt

Construction work has begun in the Wrzeszcz district of Gdańsk on the Punkt office building.

schedule 22 September 2021

C&W take on Podolska 21

Cushman & Wakefield has been appointed as an exclusive leasing agent and is to commercialise the 13,500 sqm Podolska 21 office building in Gdynia.

schedule 20 September 2021

Anritsu renews its faith in Globalworth Tower

Japanese high-speed telecoms network specialist Anritsu has renewed its lease in Globalworth Tower in Bucharest for another seven years.

schedule 15 September 2021

Zaułek Piękna still attracting tenants

Mazars has renewed its lease of 2,055 sqm in the Zaułek Piękna in central Warsaw, while 6B47 and Trend Energy Solutions have become new tenants of the office building.

schedule 15 September 2021

A4BEE in Wojdyła BP

Tech start-up A4BEE has leased 600 sqm of office space in Wojdyła Business Park in Wrocław.

schedule 08 September 2021

Wing launches HOP Passage

Hungarian developer and investor Wing has launched its latest office development: HOP Passage, which will form part of its Hungária Office Park (HOP) in Budapest.

schedule 03 September 2021

Norblin Factory ready for occupants

The occupancy permit has been issued for Capital Park’s Norblin Factory revitalisation project in Warsaw’s Wola district, signalling the completion of 46 months of construction work and a 13-year investment process.

schedule 03 September 2021

T-Romania moves into @Expo

Telekom Romania Mobile Communications has leased 4,500 sqm of office space in Belgian developer Atenor’s @Expo project in Bucharest.

schedule 02 September 2021

Penta sells Wola plot to Lincoln and Enern

Penta Real Estate has sold a development site in Warsaw’s Wola-Centrum district to Lincoln Property Company and Enern for around EUR 25 mln. The Form office building, which will contain app. 30,000 sqm of office space, is to be built on the purchased plot.

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