Companies leased 91,000 sqm of office spaces in Bucharest in Q1, up by 63% compared to the same period of last year, according to a Cushman & Wakefield Echinox report.

On May 1st, Sierra Balmain assumed management of the Power Park Opole shopping centre. The company will be responsible for both technical and commercial property management.

JLL Polska has been appointed as the exclusive agent to represent the Europlex office building. This multifunctional building, located on the borders of Warsaw’s Śródmieście and Mokotów districts, offers nearly 20,000 sqm of office space for lease.

Workplace adaptation to hybrid working, sustainability and inclusion are some of the biggest office trends and buzzwords at the moment. The implementation of these elements in a new office is, however, a challenge, especially in the current macroeconomic situation. Employers want to bring employees back to the office, while optimising rising costs. According to Cushman & Wakefield’s latest report, medium-quality fit-outs in Warsaw are priced at an average all-in rate of €1,250 per square metre – almost the same as in Prague or Budapest but half of what average fit-out costs are in London and Hamburg.

MLP Group has entered into a transaction with ING Bank Śląski S.A. whereby the bank has agreed to provide funding totalling €26.8 million, to be used to finance new investment projects in the MLP Poznań and MLP Poznań II logistics parks and to refinance existing liabilities under bank loans.

The real estate market in the Czech Republic has recently been most influenced by the overall economic situation associated with current events in Europe including the war in Ukraine, expensive energy prices and high interest rates. According to 2023 PSN data in the residential segment, the situation is favourable for investor purchases.

Real estate investor and fund manager Cromwell Property Group announced the sale of six retail centres across Poland, held by the Cromwell Polish Retail Fund (CPRF), to Star Capital Finance for €285 million.

Skanska has sold the Studio B office building in Warsaw for €86 million to Stena Real Estate AB, an international property company that is a part of the privately owned Swedish Stena Group.

Cushman & Wakefield has signed an exclusive affiliate agreement with CBS International to deliver commercial property services in Austria. The affiliate agreement builds upon an existing successful relationship between the two firms, with CBS International having been Cushman & Wakefield’s affiliate in Serbia and Montenegro since 2018 and Croatia since 2019.

The WING Liget Center multi-building development will involve not only the reconstruction of two buildings listed as historic monuments – serving as the main offices for TV channel RTL – but a brand-new boutique office building named Liget Center Vitrum will also be completed in the autumn. Construction is proceeding on schedule, and the Vitrum building is now structurally complete. Vitrum is a nearly zero energy building and will offer a total of 2,200 square metres of leasable office space over six floors. The building will be handed over in its shell and core stage in autumn 2024.