PL

Hungary Work underway on Krausz Palota

Office & mixed-use development
The Krausz Palota building, which was built in 1885 on Andrássy út in Budapest, is being refurbished and converted into a boutique office property.

The building is asset-managed by AEW on behalf of institutional investors and property managed by Avison Young. Eventually, the building, which was originally refurbished in 2002, is also to be submitted for BREEAM certification and should receive a rating of ‘Excellent’. EBH Invest is the general contractor and the project is scheduled for completion by Q4 2022 and on completion, the building will have 4,600 sqm gla.

We are delighted that a building like this, which defines Andrássy út and turn-of-the-century architecture, is being reborn as a modern bureau palace and is taking its rightful place in the most attractive district of Budapest In addition to managing such a building, it is a remarkable task to oversee the renovation of this beautiful building to meet the expectations of Budapest's top companies
Jake Lodge, principal of Avison Young Hungary.

Latest news

Investment & finance

CENTRAL EUROPE S Immo takes on CPI over Immofinanz takeover

schedule 07 December 2021
Nathan North
deputy editor

Austrian real estate investor S Immo has announced a partial takeover bid for its local rival Immofinanz in response to a bid for the latter announced late last week by Czech investor CPI Property Group.

Investment & finance

POLAND Niam sells Kraków portfolio to Corum

schedule 07 December 2021
Nathan North
deputy editor

Swedish investor Niam has sold the Axis and Kapelanka 42A office buildings in Kraków to Denver-based Corum Real Estate for an undisclosed sum.

Retail & leisure

POLAND Redefine shops for M1 Marki

schedule 07 December 2021
Nathan North
deputy editor

Chariot Group has sold the M1 Marki shopping centre on Warsaw’s northeastern outskirts to South African investor Redefine Europe for an undisclosed sum.

Retail & leisure

Czech Republic Two parks sold by Focus

schedule 06 December 2021

The Focus Estate Fund has sold two of its retail properties in the Czech Republic to DRFG investment group for an undisclosed price.

Office & mixed-use development

Poland Two tenants in Forest

schedule 06 December 2021

International propane distributor AmeriGas and a confidential media research company have both signed leases in the Forest development in Warsaw for a combined area of 5,700 sqm.

Eurobuild CEE

Poland New faces, new positions

schedule 03 December 2021
Eurobuild CEE

A number of changes have been made to Eurobuild’s editorial team, taking effect from December 1st. Anna Korólczyk-Lewandowska has been promoted to the position of deputy editor-in-chief, while Julia Cudowska has joined the team of journalists.

Warehouse & industrial

POLAND FM Logistic centre to serve Maxi Zoo in Panattoni Głogów

schedule 03 December 2021
Nathan North
deputy editor

Panattoni has laid the cornerstone for a facility for FM Logistic in Panattoni Park Głogów in Lower Silesia, which is to be used for services for pet store chain Maxi Zoo.

Office & mixed-use development

POLAND IT crowds into Skyliner

schedule 03 December 2021
Nathan North
deputy editor

Two new tenants have been secured for the Skyliner office tower in Warsaw – DXC Technology and Luxoft, which will together occupy 5,000 sqm.

Investment & finance

Serbia EBRD supports Erste

schedule 02 December 2021

The European Bank for Reconstruction and Development (EBRD) is extending a loan of up to EUR 25 mln to Erste Bank Serbia to support the resilience of small and medium-sized enterprises.

Construction

Poland Erbud to build three residential blocks in Warsaw

schedule 02 December 2021

Erbud has announced a PLN 52.8 mln contract with Polish Export Trade & Investment to build three residential buildings in Warsaw’s Praga-Południe district.

Office & mixed-use development

POLAND PepsiCo GBS moves to Brain Park

schedule 02 December 2021
Nathan North
deputy editor

Brain Park, an office complex being developed by Echo Investment in Kraków, is to become the new headquarters of PepsiCo GBS Kraków.

Investment & finance

POLAND Pekao loans Trei EUR 27.5 mln

schedule 02 December 2021
Nathan North
deputy editor

German developer Trei Real Estate has received a EUR 27.5 mln loan from Polish bank Pekao to finance it residential developments and the expansion of its Vendo Park retail park network in Poland.

Retail & leisure

LATVIA Titanium buys Riga mall

schedule 02 December 2021
Opr./edited by NN

Finnish real estate fund Titanium, which has just entered the Baltics, has made its first investment in Latvia by acquiring the Ozols shopping centre in Riga for an undisclosed sum.

Office & mixed-use development

Poland Norblin now complete

schedule 01 December 2021

Capital Park Group has completed the conversion of the Norblin Factory site in Warsaw.

Office & mixed-use development

Poland Cresa predicts years of undersupply

schedule 01 December 2021

Office development has slowed down due to property market uncertainty. In the meantime, employees have returned to offices and companies have resumed relocations.

Office & mixed-use development

Poland Dental clinic to open in Quattro

schedule 01 December 2021

Medicover has prolonged its lease in Quattro Business Park in Kraków and increased the area it occupies to over 1,100 sqm.

Warehouse & industrial

POLAND Accolade still expanding western Poland portfolio

schedule 01 December 2021
Opr./edited by NN

Czech industrial investor Accolade Group is continuing the expansion of its portfolio in western Poland by launching a new warehousing park in Jelenia Góra in Lower Silesia and expanding its existing park in Goleniów near Szczecin.

Warehouse & industrial

CZECH REPUBLIC Billa checks into P3 Horní Počernice

schedule 01 December 2021
Nathan North
deputy editor

Czech supermarket chain Billa has leased 10,656 sqm of warehousing in P3 Horní Počernice in Prague 20.

Architecture and urban planning

SLOVAKIA ESET Campus plans unveiled

schedule 01 December 2021
Nathan North
deputy editor

Slovakian cyber-security specialist ESET has unveiled its plans for ESET Campus – a 55,000 sqm innovation and technology hub in its home city of Bratislava.

Office & mixed-use development

Poland Building D joins Quorum

schedule 30 November 2021

Building D of the Quorum complex has been topped off. It will include a total of 16,000 sqm of class A office space.

Latest in Office & mixed-use development

schedule 06 December 2021

Two tenants in Forest

International propane distributor AmeriGas and a confidential media research company have both signed leases in the Forest development in Warsaw for a combined area of 5,700 sqm.

schedule 03 December 2021

IT crowds into Skyliner

Two new tenants have been secured for the Skyliner office tower in Warsaw – DXC Technology and Luxoft, which will together occupy 5,000 sqm.

schedule 02 December 2021

PepsiCo GBS moves to Brain Park

Brain Park, an office complex being developed by Echo Investment in Kraków, is to become the new headquarters of PepsiCo GBS Kraków.

schedule 01 December 2021

Norblin now complete

Capital Park Group has completed the conversion of the Norblin Factory site in Warsaw.

schedule 01 December 2021

Cresa predicts years of undersupply

Office development has slowed down due to property market uncertainty. In the meantime, employees have returned to offices and companies have resumed relocations.

schedule 01 December 2021

Dental clinic to open in Quattro

Medicover has prolonged its lease in Quattro Business Park in Kraków and increased the area it occupies to over 1,100 sqm.

schedule 30 November 2021

Building D joins Quorum

Building D of the Quorum complex has been topped off. It will include a total of 16,000 sqm of class A office space.

schedule 30 November 2021

Enel Med to open in Warsaw Spire

CA Immo has signed a ten-year lease agreement with Enel-Med for a 540 sqm medical clinic on the ground floor of the Warsaw Spire C office building.

schedule 30 November 2021

Precisely moves to Cavatina Hall A

IT company Precisely has leased 1,000 sqm with 90 workspaces on the third floor of Cavatina Hall A in Bielsko-Biała.

schedule 26 November 2021

IT specialists come to play DL Piano

Reply Polska has leased just under 1,000 sqm of office space in the DL Piano building, a 17,000 sqm building developed by DL Invest Group in Katowice.

schedule 26 November 2021

Second Port7 phase launched

Skanska is investing EUR 20 mln in the second phase of its Port7 mixed-use development in Prague 7 (Holešovice), which has just started.

schedule 24 November 2021

Vacancy rates rise

The office development pipeline in Poland’s largest cities comprises 1.08 mln sqm to be completed by the end of 2024, according to Cushman & Wakefield.

schedule 18 November 2021

Work underway on Krausz Palota

The Krausz Palota building, which was built in 1885 on Andrássy út in Budapest, is being refurbished and converted into a boutique office property.

schedule 17 November 2021

Brown Forman stays on in Myhive

US spirits producer Brown-Forman Polska has renewed its 1,300 sqm lease agreement in Immofinanz’s Myhive Park Postępu office building in Warsaw.

schedule 15 November 2021

First tenant moves into Central Point

Wolf Theiss has moved into the Central Point in Warsaw with a lease of 1,500 sqm of office space as well as a 150 sqm terrace for its own exclusive use.

schedule 15 November 2021

Porsche drives into UBC

Porsche Engineering is to open a technology hub in the UBC 0 office building in Iulius Town Timișoara .

schedule 10 November 2021

Futureal loaned EUR 60 mln for Budapest One 2

Hungarian developer Futureal has secured a ten-year, EUR 60 mln loan (app HUF 21.5 bln) from Erste Bank to finance the construction and operation of the second phase of the Budapest One office park.

schedule 08 November 2021

Vastint goes flex

Vastint Poland has expanded the services it offers with the rental of fully furnished flexible office space. Modules are available with areas of 300 sqm to 400 sqm.

schedule 08 November 2021

Record Q3 demand for Vilnius offices

Demand on the Vilnius office market hit historic highs in Q3 2021, with more office space leased than in any quarter since monitoring of the market began in 2016, according to real estate advisory Newsec.

schedule 05 November 2021

Warsaw to be hit by undersupply

Total office take-up for Q3 2021 hit 149,300 sqm, up by 35 pct on Q3 2020 while the vacancy rate stood at 12.5 pct, representing an increase of 2.9 pp year-on-year, according to the latest figures from Cushman & Wakefield.

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