PL

Poland PINK paints a picture of regional office market

Office & mixed-use development
At the end of Q3 2021, the total modern office stock in Kraków, Wrocław, the TriCity, Katowice, Poznań, Łódź, Lublin and Szczecin came to 5,955,000 sqm according to the latest figures from the Polish Chamber of Commercial Real Estate (PINK).

After Warsaw, the cities with the largest amount of office stock were Kraków (1,604,500 sqm), Wrocław (1,242,600 sqm) and the TriCity (923,500 sqm). Between July and September 2021, four developments with a total office area of 19,300 sqm were completed. The largest developments delivered to the market over the period were Kolońska Park (7,900 sqm, Dzida-Jazgar) in Katowice and the second phase of Ocean Office Park A (5,200 sqm, Cavatina) in Kraków. Since the beginning of the year, a total of 15 buildings have been delivered comprising an office area of almost 146,000 sqm. The vacancy rate is estimated at 13.5 pct with around 805,700 sqm of office space available for immediate lease. The vacancy rate increased by 0.1 pp on the previous quarter, and by 1.6 pp y-o-y. The highest vacancy rate is in Łódź at 16.8 pct, and the lowest is in Szczecin at 5.8 pct. Take-up over the third quarter came to 113,100 sq m. Total take-up for office space outside Warsaw came to almost 379,500 sqm over the first three quarters. New leases accounted for the highest share of this figure in Q3 2021 at 66 pct, renegotiations accounted for 26 pct and expansions for 8 pct. More than half of office space in Q3 were leased in Kraków and Wrocław. The largest transactions signed between July and September 2021 were: the lease renegotiation by an undisclosed tenant from the banking sector in Olivia Star building in Gdańsk for 5,400 sqm, and two pre-lease agreements in Kraków by Pepsico in Brain Park A for 5,300 sqm and by an undisclosed tenant from the manufacturing sector in MK29 building for 5,100 sqm. The data was sourced from BNP Paribas Real Estate, CBRE, Colliers, Cresa, Cushman&Wakefield, JLL, Knight Frank, and Savills

Latest news

Office & mixed-use development

POLAND Franke goes to Myhive

schedule 09 August 2022
Opr./edited by NN

Swiss kitchen fitting and design conglomerate Franke Group is to move its European shared services centre to the Myhive Nimbus office building in Warsaw, where it has leased 1,500 sqm.

Material partner

Poland New ESG Report – Atrium

schedule 02 August 2022
Eurobuild CEE

Atrium European Real Estate has published its 6th ESG report summarising the company's achievements in 2021. The report details the key initiatives involved in the implementation of the its ESG strategy. The company has set new and even more ambitious medium-term targets for 2030, which include a 40 pct reduction in the carbon footprint of its shopping centres by 2030, compared to 2019 levels. By 2050, Atrium wants to have become a carbon-neutral organisation.

Office & mixed-use development

POLAND Newmark moves to Centrum Marszałkowska

schedule 09 August 2022
Opr./edited by NN

Commercial real estate advisory Newmark Polska has relocated its Warsaw headquarters to Centrum Marszałkowska in the centre of the city.

Investment & finance

ROMANIA Hili handover for Miro

schedule 09 August 2022
Nathan North
deputy editor

Hili Properties has acquired, for around EUR 50 mln, a 75 pct stake in Băneasa Real Estate SRL, the special purpose vehicle that owns the Miro office building in Bucharest.

Events

POLAND The tournament where everyone was a winner

schedule 09 August 2022
Eurobuild CEE

JLL’s 11th Real Estate Charity Beach Volleyball Tournament brought together 54 teams and around 2,500 guests, while more than PLN 750,000 was raised in the charity auction for the Polish Humanitarian Action and Women's Rights Centre Foundation.

Office & mixed-use development

POLAND Warsaw office vacancy continues to slide – C&W

schedule 08 August 2022
Opr./edited by NN

Warsaw’s total office stock reached app. 6.27 mln sqm at the end of H1 2022, with occupier activity accelerating while vacancy continued its downward trend – according to Cushman & Wakefield.

Investment & finance

ROMANIA One United raises EUR 51.5 mln on BVB

schedule 08 August 2022
Opr./edited by NN

Romanian developer One United Properties has raised EUR 51.5 mln in what the company claims is the largest ever capital increase from a share issue of a company listed on the Bucharest Stock Exchange (BVB).

Investment & finance

ROMANIA CA Immo begins Romanian sell-off

schedule 08 August 2022
Nathan North
deputy editor

Austrian real estate investor CA Immo has officially announced that it is selling its office portfolio in Romania.

Office & mixed-use development

POLAND Kraków tops provincial office leasing league

schedule 05 August 2022
Opr./edited by NN

The leasing activity in the Kraków office market reached 109,000 sqm In H2 2022 – more than any other Polish regional city, equivalent to 70 pct of 2021’s total and representing a 44 pct y-o-y increase, according to Savills.

Investment & finance

POLAND Pbb loans EUR 120 mln to EQT in Poland

schedule 05 August 2022
Opr./edited by NN

Pbb Deutsche Pfandbriefbank has provided a EUR 120 mln refinancing loan to EQT Exeter for its Polish logistics portfolio.

Investment & finance

CEE REGION CEE investment up 33 pct in H2 – C&W

schedule 05 August 2022
Opr./edited by NN

In H1 2022, the total CEE commercial real estate investment volume reached EUR 5.5 bln – an increase of 32.8 pct y-o-y, according to Cushman & Wakefield.

Warehouse & industrial

ROMANIA DPD continues growth in VGP Arad

schedule 05 August 2022
Opr./edited by NN

French courier firm DPD has leased 3,500 sqm of warehouse space in VGP Park Arad in Transylvania.

Warehouse & industrial

POLAND Cinno fills BIK Wroclaw II

schedule 04 August 2022
Opr./edited by NN

Cinno Poland has leased 5,260 sqm in BIK Wroclaw II – the last of the remaining space in the park, which is now close to completion.

Warehouse & industrial

POLAND Panattoni almost triples hygiene plant

schedule 04 August 2022
Opr./edited by NN

Panattoni has completed the 43,000 sqm expansion of a plant in the Łódź region for a European hygiene products manufacturer, bringing the total area up to 70,000 sqm.

Office & mixed-use development

POLAND Euro-net takes in more in The Park

schedule 04 August 2022
Opr./edited by NN

Euro-net, the owner of the RTV Euro AGD electronic goods store network, is to move its headquarters into ninth building of The Park Warsaw in mid-2023, occupying 80 pct of its total area.

Investment & finance

POLAND Macquarie AM acquires 7R complex and loan

schedule 04 August 2022
Nathan North
deputy editor

Macquarie Asset Management has acquired 7R City Flex Warsaw Airport I for around EUR 29 mln. The warehousing and logistics complex includes three buildings comprising 15,900 sqm and is fully leased.

Eurobuild Awards

Poland Shh, the jury is in session!

schedule 04 August 2022
Eurobuild CEE

On August 1st this year, the nominations for the Eurobuild Awards 2022 were announced. Due to the recent pandemic, this year’s competition recognises achievements over a longer period than the usual twelve months. This time, companies, projects and individuals are to be judged for their achievements over the last 20 months.

Warehouse & industrial

POLAND P3 buys fourth plot in southern Poland

schedule 03 August 2022
Opr./edited by NN

Prague-based P3 Logistic Parks has purchased a plot of more than 22 ha in Dębieńsko in Silesia, about 35 km southwest of Katowice, for the development of almost 110,000 sqm of warehousing.

Investment & finance

POLAND REICO buys battery plant in Gniezno

schedule 03 August 2022
Opr./edited by NN

REICO ČS Long Lease, managed by Czech real estate investment group REICO IS ČS, has acquired the APS consumer battery manufacturing centre in Gniezno in a sale-leaseback deal for app. CZK 511 mln (PLN 97.4 mln or EUR 20.4 mln).

Property and Facility Management

POLAND Savills to manage Widok Towers

schedule 03 August 2022
Opr./edited by NN

Savills has been appointed as property manager for Widok Towers in Warsaw city centre.

Latest in Office & mixed-use development

schedule 09 August 2022

Franke goes to Myhive

Swiss kitchen fitting and design conglomerate Franke Group is to move its European shared services centre to the Myhive Nimbus office building in Warsaw, where it has leased 1,500 sqm.

schedule 09 August 2022

Newmark moves to Centrum Marszałkowska

Commercial real estate advisory Newmark Polska has relocated its Warsaw headquarters to Centrum Marszałkowska in the centre of the city.

schedule 08 August 2022

Warsaw office vacancy continues to slide – C&W

Warsaw’s total office stock reached app. 6.27 mln sqm at the end of H1 2022, with occupier activity accelerating while vacancy continued its downward trend – according to Cushman & Wakefield.

schedule 05 August 2022

Kraków tops provincial office leasing league

The leasing activity in the Kraków office market reached 109,000 sqm In H2 2022 – more than any other Polish regional city, equivalent to 70 pct of 2021’s total and representing a 44 pct y-o-y increase, according to Savills.

schedule 04 August 2022

Euro-net takes in more in The Park

Euro-net, the owner of the RTV Euro AGD electronic goods store network, is to move its headquarters into ninth building of The Park Warsaw in mid-2023, occupying 80 pct of its total area.

schedule 02 August 2022

Wratslavia to undergo eco-makeover

Futureal Investment Partners has announced that it is to start renovation work on the Wratislavia Tower office building in Wrocław, which it recently acquired. The aim of the project is to obtain a BREEAM In-Use ‘Excellent’ certificate for the building.

schedule 01 August 2022

Lafarge happy in West Station

Polish cement and concrete manufacturer Lafarge has renewed its lease of 1,400 sqm of office space in West Station II in Warsaw.

schedule 01 August 2022

Hi-Sky lands in Miro

Moldavian chart flight provider HiSky has leased 350 sqm of office space in the Miro office building in Bucharest’s northern Băneasa district, which is owned by its Belgian developer, Speedwell.

schedule 29 July 2022

Panattoni extends itself in Warsaw Spire

Panattoni is to expand its office space in Warsaw Spire from 2,900 sqm to 4,500 sqm, after extending its lease in the building until 2028.

schedule 26 July 2022

Record Warsaw office take-up in H1 – Savills

In H1 2022, office take-up in Warsaw hit a record high of 479,400 sqm, representing an increase of 94 pct y-o-y, according to Savills.

schedule 26 July 2022

Anegis chooses Centrum Południe

British digital business optimisation company Anegis has leased 750 sqm of office space in the first stage of Centrum Południe – an office complex that is being developed by Skanska in Wrocław.

schedule 25 July 2022

Death knell for Cathedral Plaza

Nicușor Dan, the Mayor of Bucharest, has announced that he has signed an order for the demolition of the controversial Cathedral Plaza building, which is situated just behind the city’s St Joseph Roman Catholic cathedral.

schedule 25 July 2022

Two new faces for Wola Center

The Hines European Value Fund (HEVF 1) has secured two more long-term leases for app. 770 sqm office space in Wola Center in Warsaw district. The new tenants are IT firm JIT Team companies and Mytaxi Polska.

schedule 22 July 2022

HB Reavis partners with Polsat for Port Praski

Polsat Plus Group has signed a joint venture agreement with Slovak developer HB Reavis, which involves the latter acquiring 50 pct stakes in the Port Praski City II and Port Praski Medical Center projects in Warsaw for app. EUR 24.3 mln.

schedule 21 July 2022

Art deco showcased at Globis Wrocław

Boutique furniture and homeware studio BowArte Home is to open a 256 sqm showroom in the Globis Wrocław office building, which is owned by trusted Globe Trade Centre.

schedule 20 July 2022

ING takes last space in West Gate

The West Gate office building in Wrocław, which is owned and managed by Globalworth, is now fully-leased following the signing with ING Bank of a contract for almost 400 sqm.

schedule 20 July 2022

Big lease for Haller Gardens

An undisclosed tenant has leased 5,420 sqm on several floors of Myhive Haller Gardens, an office building in Budapest owned by Immofinanz.

schedule 19 July 2022

Lixa C leasing merrily

Polish serviced offices provider Rise.pl is to occupy more than 3,300 sqm in the recently completed Lixa C building in Warsaw’s Wola-Centrum business district.

schedule 18 July 2022

GTC secures two Sofia leases

Bulgarian software developer Gtmhub has leased 1,700 sqm in Advance Business Centre I in Sofia. The office building is owned by Globe Trade Centre.

schedule 15 July 2022

Fashion comes to Varso Tower

A global fashion brand has signed a 10-year lease agreement for the 38th floor of Varso Tower – a total of 1,700 sqm of the office tower, which is close to completion in central Warsaw.

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