French company Groupama Gan REIM, on behalf of the SCPI Affinités Pierre, has acquired the Green Court Office complex on Budapest's Váci Road from Codic Hungary. The complex, comprising two buildings, offers 20,181 sqm of office space.

In Q3 2022, the Czech industrial market grew at a faster pace than at any time previously, adding 511,100 sqm of new modern industrial space to the market. The market stock overtook the level of 10.65 million sqm, further expanding after breaking the 10 million sqm milestone in H1 2022. The vacancy rate decreased to 0.99% for the first time in recorded history, plunging the national average just below 1% of all available space on the market, says Colliers.

Marian Roman has been appointed Managing Director of Europolis Office, the office division of Pavăl Holding. The move came after the holding took over seven Bucharest-based office projects from CA Immo. 

Immofinanz is concentrating on the strategic growth areas of retail properties and myhive office solutions in the current market environment and has sold the rights for joint use of the development concept for sustainable and affordable housing over single-storey buildings to Dietmar Reindl. This innovative residential concept will now be expanded to include implementation by this former Immofinanz Executive Board member under his own flag outside the Immofinanz Group. Immofinanz retains the right to implement the concept on its own properties at any time and remains the owner of the On Top Living brand.

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.