Warehouse occupiers are prioritising the shortening of supply chains to mitigate business risks, a trend that is likely to dominate the demand for warehouse space in Europe for the next three years, reports Savills and Tritax EuroBox plc, a leading investor in European logistics real estate. According to Savills, Poland becomes a target for larger Foreign Direct Investment facilities.

Christie & Co has advised global real estate investment manager Invesco Real Estate on the sale of the Mercure Bratislava Centrum Hotel to CPI Property Group.

Panattoni is kicking off its first investments in Hungary. On the plot purchased in Herceghalom, 30 km from the centre of Budapest, Panattoni Park Budapest West will be built with a total space of 75,500 sqm. The developer has also acquired land for City Logistics Budapest I in Törökbálint, halfway between Herceghalom and the Hungarian capital. Both investments will encompass jointly up to 100,000 sqm.

CPI Property Group announced that the Group has signed disposals that will raise gross proceeds of about €700 million and net proceeds of about €550 million following repayment of associated asset-level debt.

Czech shopping centre revenues for the first ten months of this year reached a similar level as they did in the same period of 2020. Since April, footfall has been consistently higher than last year. The number of new brands coming to the market has been the highest in the last three years, mostly in the fashion segment, according to Cushman & Wakefield.

CBRE Investment Management, on behalf of a client, has agreed on the acquisition of the Nexus portfolio, a 211,803 sqm logistics portfolio located in Poland, from European Logistics Investment, a vehicle jointly managed by Griffin Real Estate, Redefine and Madison International Realty.

7R has finalized the divestment of 7R Park Kraków IX logistics building to Generali Real Estate. The 33 000 sqm warehouse, commissioned for use in the middle of the year, is fully leased and BREEAM-certified at the Very Good level. This is the second transaction between Generali and 7R in 2021 following Generali Real Estate’s acquisition of 7R Park Gdańsk II warehouse complex in Kowale, in September 2021. The price has not been disclosed. 

Radisson Hotel Group is planning to grow its portfolio of brands operating in Romania and will roll out new formats on the local market. 

CEE-based media and event platform Property Forum has promoted Fulvia Meirosu to the role of Country Manager for Romania, starting from January 2022. Fulvia will be in charge of client care in addition to being responsible for driving Property Forum’s expansion in one of its biggest markets.

Buyers of homes in Romania with a price of maximum €140,000 will pay a VAT of 5%, extending a facility that was applicable up to now only for residential units with costs up to €90,000, according to a government decision.