News

Investment & finance

Standard Life buys Palác I.P. Pavlova 5

schedule 20 January 2015
Nathan North
managing editor (English section)

CZECH REPUBLIC Standard Life Investments has acquired the Palác I.P. Pavlova 5 office and mixed-use building in central Prague for its Global Real Estate Fund.

Warehouse & industrial

New tenant in Europolis Park Błonie

schedule 20 January 2015
Agata Kłapeć

POLAND Polish-registered lighting distributor GTV has leased 5,000 sqm of warehousing and office space in Europolis Park Błonie near Warsaw.

Government-backed mortgages see 16,000 applications

schedule 20 January 2015
Aneta Cichla

POLAND It has been a year since the Apartment for the Young ("Mieszkanie dla Młodych") governmental programme has launched in Poland. The state-owned Bank Gospodarstwa Krajowego (BGK), which coordinates the initiative, received a total of 15,972 applications and granted PLN 366 mln of subsidized mortgages over that time.

Dayli to have even 350 stores in 2017

schedule 20 January 2015
Anna Pakulniewicz

POLAND By the end of 2015, Kerdos Group aims to open app. 50 new Dayli chemist shops and app. 20 franchised locations (within a new franchise programme that is currently being developed). The retailer, which owns the Dayli chemist chain, continues to grow its physical and online presence across the European markets it operates on. With four recent openings, the Dayli chain currently has 169 chemist shops in total.

Investment & finance

Tesco closes down CEE stores

schedule 20 January 2015
Eurobuild CEE

CZECH REPUBLIC/HUNGARY Tesco is set to shut down another hypermarket in the Czech Republic along with 13 Hungarian stores, as the company is implementing an international recovery program that aims to dramatically cut costs.

Investment & finance

Griffin to buy PKO BP developer

schedule 19 January 2015
Aneta Cichla

POLAND A Griffin Group-managed investment fund has signed a letter of intent with PKO Bank Polski on buying Qualia Development, a real estate company owned by the PKO BP bank.

Auchan allowed to buy Piaseczno plots

schedule 19 January 2015
Aneta Cichla

POLAND The town council of Piaseczno has passed a resolution which allows Auchan Polska to bypass a tender procedure when buying three plots adjacent to the company’s shopping centre.

PHN buys office building

schedule 19 January 2015
Tomasz Szpyt-Grzegórski

POLAND The Management Board of Polski Holding Nieruchomości (PHN) has signed a letter of intent concerning the purchase of an app. 15,000 sqm office building.

CPI to invest in Polish retail projects

schedule 19 January 2015

CZECH REPUBLIC CEE investment and development company CPI Property Group aims to buy five retail assets in Poland for a total amount of app. CZK 500 mln (PLN 70 mln) as it sees retail investment opportunities in the Czech Republic dry up and turns its eyes towards the Polish market, reports the Hospodářské noviny daily.

Warehouse & industrial

Automotive tenant enters Budapest park

schedule 19 January 2015
Eurobuild CEE

HUNGARY Auto parts supplier Daejung has opened its first Hungarian, 4,700 sqm manufacturing facility within the Europolis Park Budapest M1 industrial and logistics park whose majority shareholder is the German developer CA Immo.

Retail & leisure

World’s first Avon Studio opens in Warsaw

schedule 19 January 2015
Aneta Cichla

POLAND The world’s first Avon Studio, a special store concept developed by the cosmetics manufacturer and retailer Avon, has opened in the Złote Tarasy shopping centre in Warsaw.

Retail & leisure

Inditex takes 5,600 sqm in Forum Radunia

schedule 19 January 2015
Aneta Cichla

POLAND Seven Inditex shops are to open in the Forum Radunia shopping centre that is currently being developed in Gdańsk.

Pilkington’s Szczecin factory to get larger

schedule 19 January 2015
Aneta Cichla

POLAND Korean NSG Group, the owner of Pilkington’s Polish companies, aims to extend the Pilkington IGP glass manufacturing plant in Szczecin.

Office & mixed-use development

Nuvalu to lease for Immofinanz

schedule 19 January 2015
Aneta Cichla

POLAND The Nuvalu consultancy has been granted an exclusive mandate for leasing two Warsaw office buildings, Crown Point and Crown Tower. Both properties belong to the Austrian developer Immofinanz Group.

Office & mixed-use development

Large mixed-use complex to be built in Lublin

schedule 19 January 2015
Tomasz Szpyt-Grzegórski

POLAND Centrum Zana Group is planning to build a 100,000 sqm office, services and residential complex on a 5-ha plot on al. Kraśnicka in Lublin. Between 10 to 20 new buildings are to be developed on the parcel which previously accommodated a public transit terminal.

2014 Moscow office rentals drop by 20 pct

schedule 19 January 2015
Rafał Ostrowski
journalist

RUSSIA The average headline rent on the Moscow Class A office market has decreased by 20 pct, to USD 650 per sqm a year, according to the preliminary 2014 results published by Knight Frank.

Russian investment market to hit 10-year low

schedule 19 January 2015
Rafał Ostrowski
journalist

RUSSIA Russian real estate investment volumes will not exceed USD 3 bln this year, which will equal the lowest level of the last 10 years, says JLL in its latest forecast.

Retail & leisure

Kyiv’s Respublika to open in May

schedule 19 January 2015
Rafał Ostrowski
journalist

UKRAINE Megapoliszhilstroi [Мегаполисжилстрой] plans on opening the Respublika mix-use centre in Kyiv in May 2015.

Office & mixed-use development

Wiśniowy Business Park obtains refinancing

schedule 16 January 2015
Rafał Ostrowski
journalist

POLAND A subsidiary of Polonia Property Found LP (Polonia I), managed by Peakside Capital, has received a EUR 62.6 mln loan from Bank Zachodni WBK to refinance the Wiśniowy Business Park complex in Warsaw’s Włochy district.

Office & mixed-use development

Yareal to break ground in Warsaw

schedule 16 January 2015
Tomasz Szpyt-Grzegórski

POLAND Yareal now has a legally binding building permit for the construction of the Neopark office complex in Warsaw. The construction work on the project is set to begin within this quarter.

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