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Europe The race to decarbonise

ESG
In their report, Europe’s Renovation Wave, Colliers explores the regulatory and societal pressures now driving an era of accelerated asset renovation.

The company analyses proactive actions that investors, owners and occupiers can take to make sure their assets are not left behind and stranded in the race to decarbonise the built environment by 2050. For those European players, already embracing their journey to net-zero-carbon through retrofitting, upfront spending has the potential for long-term rent and capital-value accumulation. Where significant energy saving modifications are introduced, Colliers estimates an average potential uplift of 10 pct in value via the capitalisation of an additional ‘energy rent’ at no additional cost to the tenant.

National and EU-wide goals for energy-efficient buildings are becoming transformational. Environmental, social and governance (ESG) regulations in relation to the built environment continue to tighten, impacting both occupiers and landlords/investors. When it comes to the real estate market, the EU believes that the rate of renovation needs to be at least double its current rate but this is still significantly behind the pace of change recommended by other leading industry think-tanks.
Andy Hay, managing director, EMEA Property Management and ESG at Colliers

According to Colliers EMEA the renovation wave is accelerating the risk that some CRE assets will be left stranded if they fail to adapt to the new regulatory and market requirements. Investors, owners and occupiers are evaluating the steps they need to take to align their assets and processes with EU regulations, long-term financial performance and their own stated commitments to ESG standards.

There is clear momentum in market activity concerning the retrofitting of assets. Notwithstanding the continued work of the EU and national governments and broader social pressure, this momentum is being pushed by market forces – including a drive to lower energy and occupational costs.
Sam Addison, head of enterprise project management, EMEA Occupier Services at Colliers

Colliers’ analysis indicates that despite the upfront costs, investments in retrofitting can yield long-term rent and capital-value accumulation, and points to the success of Bupa, Electrolux and Manpower Group (as featured case studies) as illustrations of how owners and occupiers are already reaping the benefits of proactive renovation strategies across their portfolios. The top two focus areas for investors, when it came to asset retrofitting, were energy efficiency and operational carbon reduction, followed by reducing water usage and embedded carbon. However, there is still a lot of uncertainty amongst investors as to the costs and financing to deliver deep energy renovations.

Nearly half of investors (44 pct) are still unclear as to how much energy adaptations will cost. They don’t know how or from where these upgrades can be financed. There might be some opportunity to leverage green financial instruments – like green bonds – but this will need to be assessed as part of a portfolio audit.
Damian Harrington, head of research, Global Capital Markets & EMEA at Colliers

Latest news

Investment & finance

Germany Panattoni Park Voerde changes hands

schedule 19 April 2024
Opr./edited by ANZ

Panattoni has completed a sales transaction in Germany. Clarion Partners Europe has acquired a prime logistics hub for EUR 75 mln near Duisburg.

Material partner

Poland Excellent Fern at Off Piotrkowska

schedule 04 April 2024
Eurobuild CEE

Intensive commercialization of the multifunctional Fern building under construction at Off Piotrkowska Center has begun. A modern building, the construction of which will start at the turn of 2024/2025, offers 4,700 sqm of service space and 2,700 sqm of office space.

ESG

Poland Outstanding Kreo

schedule 18 April 2024
Opr./edited by ANZ

Kreo, Ghelamco's Kraków office project, has achieved BREEAM certification at the Outstanding level. The building also has a WELL and Green Building Standard pre-certificate, and is also in the process of Smart Score, Wired Score and "Barrier-free building" certification.

Investment & finance

Romania Flats, offices and hotels on the agenda

schedule 18 April 2024
Opr./edited by ANZ

One United Properties has unveiled its strategy for the coming years. It plans to triple its residential offer by 2030, expand its commercial sector and build hotels in Bucharest in partnership with global brands.

Investment & finance

Poland EUR 1.5 bln on acquisitions in Poland

schedule 18 April 2024
Opr./edited by ANZ

Baltisse and Straco Real Estate acquire majority stake in Speedwell, expanding reach into Romania and entering Polish market. Speedwell wants to spend at least EUR 1.5 bln on acquisitions in Poland in the coming years. 

Land acquisitions

Germany More land for Garbe

schedule 18 April 2024
Opr./edited by JC

Garbe Industrial Real Estate has secured another plot of land in Rüdenhausen, Germany. The Hamburg-based project developer is planning a logistics centre with a total area of around 19,200 sqm on the site.

Warehouse & industrial

Poland The warehouse giant in Targówek has woken up

schedule 17 April 2024
Eurobuild CEE

The JV of Partners Group and Peakside Capital Advisors has completed the construction of the first warehouse facility in City Point Targówek. The 7,000 sqm building fully leased to DPD Polska is the part of a complex which will provide nearly 100,000 sqm space in the biggest park of last-mile logistics in the Warsaw boundaries.

Retail & leisure

Poland Good start for Polish retail

schedule 17 April 2024
Opr./edited by JC

Cushman & Wakefield has summarised the situation on the Polish retail market. The opening of 2024 is encouraging and new retail space supply in the coming months is likely to match or even surpass last year’s total.

Residential

Germany Berlin residential market report 2024

schedule 17 April 2024
Opr./edited by ANZ

According to the Berlin 2024 Residential Market Report by real estate financier Berlin Hyp and real estate service provider CBRE, purchase prices have fallen, while pressure on the rental housing market continues to increase. As a result, rental prices are continuing to rise sharply.

Hotels

Germany IHG doubles in Germany

schedule 17 April 2024
Opr./edited by JC

IHG Hotels & Resorts and Novum Hospitality announced a long-term agreement that will double IHG’s presence in Germany to more than 200 hotels in almost 100 cities through Holiday Inn – the niu brand collaboration and European debuts for IHG’s Garner and Candlewood Suites.

Warehouse & industrial

Poland Hillwood makes its debut near Poznań

schedule 17 April 2024
Opr./edited by ANZ

Hillwood Polska has started its first investment in the Poznań market. As part of the Hillwood Poznań - Czempiń project, the company is building a warehouse complex of nearly 130,000 sqm.

Retail & leisure

Czech Republic Prague’s Černý Most shopping mall will grow

schedule 16 April 2024
Opr./edited by ANZ

Centrum Černý Most, a shopping centre in the Prague region, is set to undergo a significant expansion of 9,100 sqm that will add over 30 new shops and restaurants, as well as additional screens to the centre’s multiplex cinema.

Office & mixed-use development

Poland The Bridge has gained its height

schedule 16 April 2024
Opr./edited by ANZ

The structure of The Bridge skyscraper in Warsaw's Wola district has reached its final height, i.e. 174 m. The builders have just completed the last technical floor. Installation and finishing works inside the facility and the assembly of the facade are in progress.

Retail & leisure

Poland Glinianka changes hands

schedule 16 April 2024
Opr./edited by JC

Redkom Development sold 100 pct of shares in the company holding the Glinianka complex. The retail park, located near Warsaw, has been bought by CEE-Big Europe.

Warehouse & industrial

Poland The logistics park in Sulechów is ready

schedule 16 April 2024
Opr./edited by ANZ

Panattoni has finished the last stage of Panattoni Park Sulechów III. The centre has been developed for BestSecret, a European members-only online destination for premium and luxury off-price fashion. The building has a total area of 136,000 sqm, which makes it one of the largest logistics centres in the region.

Warehouse & industrial

Germany CTP builds for Quanta

schedule 16 April 2024
Opr./edited by JC

CTP has signed a deal with Quanta Computer, a Taiwanese company that manufactures computers and electronic hardware, for a 22,500 sqm production facility at CTPark Jülich in northwest Germany.

Warehouse & industrial

Poland Fresenius stays with Prologis

schedule 16 April 2024
Opr./edited by JC

Medical company Fresenius Medical Care has renegotiated its lease of 3,900 sqm of warehouse space and 120 sqm of office space in Prologis Park Poznań.

Events

Poland Piotr Kroenke (1950-2024)

schedule 15 April 2024
Eurobuild CEE

We regret to inform you that Piotr Kroenke, long-time general director of GTC and co-creator of many of the company's successes, has passed away.

ESG

Poland BIK Park Sosnowiec II is now BREEAM certified

schedule 15 April 2024
Opr./edited by ANZ

BIK Park Sosnowiec II has successfully passed the BREEAM certification at the Very Good level. Last year, BIK Park Wrocław I and II - two other properties from the portfolio of Biuro Inwestycji Kapitałowych - went through the same assessment process.

Investment & finance

Romania Retail is strong in Romania

schedule 15 April 2024
Opr./edited by JC

According to the special research report Romania Retail Destinations 2024, released by CBRE Romania, by the end of 2024 the stock of modern retail spaces in the country will overpass 4.5 mln sqm. It will set a new record for Romania.

Latest in ESG

schedule 18 April 2024

Outstanding Kreo

Kreo, Ghelamco's Kraków office project, has achieved BREEAM certification at the Outstanding level. The building also has a WELL and Green Building Standard pre-certificate, and is also in the process of Smart Score, Wired Score and "Barrier-free building" certification.

schedule 15 April 2024

BIK Park Sosnowiec II is now BREEAM certified

BIK Park Sosnowiec II has successfully passed the BREEAM certification at the Very Good level. Last year, BIK Park Wrocław I and II - two other properties from the portfolio of Biuro Inwestycji Kapitałowych - went through the same assessment process.

schedule 09 April 2024

Domeq is doing WELL

CTP, in cooperation with Ruby Project Management, has received the highest level of the WELL certification for its project Domeq in Brno. It's the first residential investment in the country to meet the criteria.

schedule 28 March 2024

Entire portfolio is green

A further 15 buildings owned by Hillwood Polska have been awarded BREEAM In Use certification at the Excellent level. The accreditation now covers the company's entire portfolio.

schedule 28 March 2024

U-Center 2 is WELL

Forte Partners has announced WELL Health-Safety Rating certification for U-Center 2, the office building the developer put into operation in September 2023.

schedule 26 March 2024

First BREEAM certificate in Albania

Park Avenue Tower in Tirana has become the first Albanian office project to secure BREEAM Design Stage certification with an Excellent rating.

schedule 18 March 2024

BREEAM Outstanding for Panattoni

Panattoni has been awarded another BREEAM certificate with a rating of Outstanding for Panattoni Park Poznań A2. The building B was constructed for H&M without the use of PCVs.

schedule 13 March 2024

We know the winners of Global ESG Awards

The trophy ceremony for the Global ESG Awards took place during MIPIM in Cannes. Following 180 nominations across six categories, 6,801 public votes and 2,177 evaluations done by a global official jury committee, a ranking revealed six  winners.

schedule 29 February 2024

The shelter in Gniezno as good as new

Panattoni and Dekpol Budownictwo have once again jointly carried out a campaign to help homeless animals, this time supporting a shelter in Gniezno. The facility underwent a comprehensive renovation, and the value of the aid was around EUR 50,000.

schedule 24 January 2024

CTPark Iłowa awarded BREEAM Excellent

The ILL5 building constructed as part of the CTPark Iłowa complex has been awarded the BREEAM International New Construction certificate at the Excellent level. The building, with an area of almost 115,000 sqm, received a rating of 77.26 pct.

schedule 18 January 2024

Capital Park goes green

Capital Park Group has started to power its investment projects exclusively with energy from renewable sources. As of 1 January 2024, Norblin Factory, Royal Wilanów and two Vis à Vis street malls use 100 pct green energy. The total area of all projects powered by RES is more than 110,000 sqm.

schedule 17 January 2024

Another Platinum in Bucharest

The U-Center 2 office building in Bucharest, realised by Forte Partners, has achieved LEED v4 certification with a Platinum rating. The certification process was coordinated by BuildGreen.

schedule 08 January 2024

Another BREEAM for Panattoni

Panattoni City Dock Törökbálint, has been awarded the BREEAM Excellent certification, which signifies that the complex meets the highest standards in energy efficiency, water management, sustainable construction, health and wellbeing and innovation in design.

schedule 18 December 2023

Interest in sustainability is growing

With the upcoming introduction of mandatory non-financial reporting, which will require companies to report on how they are performing in the areas of environment, employee relations, and ethical working practices, industrial and logistics companies are taking a keener interest in sustainable solutions, shows the research by Colliers.

schedule 14 December 2023

The race to decarbonise

In their report, Europe’s Renovation Wave, Colliers explores the regulatory and societal pressures now driving an era of accelerated asset renovation.

schedule 08 December 2023

Tens of megawatts on roofs across country

ČEZ ESCO and CTP have launched a strategic cooperation in the field renewable energy. CTP intends to equip the roofs of selected parks with photovoltaic power plants in the coming years.

schedule 07 December 2023

Demolish or redevelop?

According to experts at the Urban Land Institute, changing trends in the office, retail, and hotel markets are making commercial adaptive reuse not just an option, but often a necessity.

schedule 01 December 2023

CMS, WELL done!

The CMS law firm's headquarters, located in Varso Tower, has become the first office arrangement in Poland to be awarded WELL Platinum certification. Thus, CMS joins the ranks of four law firms worldwide that have an office that complies with the highest standards of occupant wellbeing.

schedule 15 November 2023

Gold for Varso Tower

The Warsaw skyscraper developed by HB Reavis has been awarded the WELL Core & Shell certificate at the Gold level, confirming that the building was designed with care for the people working in it, their comfort and safety.

schedule 09 November 2023

Adgar got the highest certification

The Adgar Renaissance Tower office building has received LEED v4.1 Operation and Maintenance certification at the highest Platinum level. The property, located in Warsaw's Wola district, was purchased by Adgar Poland last year. 

Edition 4 (287) April 2024

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