Czech company Jamp, which focuses on property rental, has bought the former headquarters of Raiffeisen stavební spořitelna in Prague. The company is now considering turning it into a residential property. Neither party has disclosed the purchase price. The group plans to make further property purchases outside the Czech market, Nikolina Peričová, the company's Managing Director, told the daily HN.cz. 

Allianz Real Estate, acting on behalf of several Allianz Group companies, has entered into a purchase agreement related to a portfolio of five Class A logistics facilities in three European countries in a forward transaction with German logistics leader DHL. Set to complete between Q1 2023 to Q1 2024, the portfolio represents one of Allianz Real Estate’s largest single logistics sector acquisitions, in terms of gross leasable area, to date. In total the five facilities will cover over 200,000 sqm.

Romania is turning into a hub for logistics and the additional investment in infrastructure will increase the country’s industrial stock going forward, concluded speakers of the logistics panel of SEE Property Forum 2022, held in Bucharest.

Grocery retailer Kaufland has inaugurated in Bucharest a new hypermarket spanning 5,000 sqm. Following the latest opening, the European network of the retailer climbed to 1,500 units.

With a rent level of €53/sqm/month on Calea Victoriei, the main retail street of the city, Bucharest remains in the top 50 cities analyzed worldwide and in position 46 out of 53 in the EMEA ranking, just behind Warsaw, according to a report by real estate consultancy Cushman & Wakefield Echinox. 

Savills, along with its flexible office specialist Workthere.pl, anticipates that flex office stock in Europe will reach circa 20% of total office stock across the continent over the next 10 years. However, this will vary significantly by location and working culture, as the definition of what is considered ‘flex’ broadens.

One of the largest office complexes in Warsaw’s Mokotów district, Marynarska Business Park, is currently undergoing extensive modernisation. The project is being carried out with particular attention to sustainability. The redevelopment will give a new appearance to the common areas of the office buildings and the outdoor area, where the 6,000 sqm concrete car park is being transformed into a publicly accessible green park. The planned completion date is Q2 2023.

C. Hartwig Gdynia, a leading Polish freight forwarding company of the global Rhenus Group, has expanded its lease to occupy a total of 16,100 sqm of warehouse and office space in the Pomeranian Logistics Centre. The tenant was represented during lease negotiations by real estate advisory firm Newmark Polska.

Investment into the world’s office markets fell sharply in Q3 2022, however, there is plenty of capital still circulating poised to target the best assets, as well as any areas of discount, as debt-backed buyers withdraw and others pause decision-making. The Czech market is copying the global market, but the number of opportunities for buyers to source a ‘bargain’ is limited, says Savills in its latest Capital Markets Quarterly report. 

Hungarian property investor Indotek Group is extending its facelift program to its international retail portfolio, with the renewal of the nearly 50,000 sqm Promenada Mall in Romania. The company is carrying out the modernization of the shopping centre in Târgu Mureș in two phases.