Will Robson, Executive Director and Global Head of Real Estate Solutions Research at MSCI, talked to Property Forum about the assessment of environmental, social and governance (ESG) indicators in commercial real estate and its emerging role in the risk management of organizations.

Zeitraum, an international operator of student housing schemes, has just taken over the management of its first dormitory in Poland as Zeitgeist Asset Management, an investor operating on the Polish market for several years, finalised the purchase of a privately-run student hall located in Kraków from NNS. The asset is located at 33 Koszykarska Street and has been operating under the Unibase brand for three years. It can accommodate 345 people in 157 rooms. The first students will move into the building in September. JLL experts supported the investor in the purchase of the asset.

A lack of materials and an increase in the price of construction work is troubling the industrial real estate market in the Czech Republic. Industrial space in desirable locations is in short supply. Occupancy rates in Prague and the close surroundings are rising and vacancy rates have almost reached zero. Tenants are well aware of the situation and it has become more common for them to extend their lease contracts for longer periods, according to 108 Agency’s market summary.

According to Colliers, CEE markets continue to feel some impact on transactional activity with flow volumes down ca. 22% year-on-year. Poland captured more than half of all invested capital in the first half of the year. Colliers estimates for 2021 that year-end volumes will remain between €10-11 billion.

The pandemic had a limited impact on the turnover of retail parks compared to shopping malls in Romania, according to real estate consultancy Cushman & Wakefield Echinox. 

Total take-up on the Bratislava office market reached 37,000 sqm which represents a year-on-year increase of 19.5%. As the pandemic slowed down, retail leasing activity also returned and with it the surge in footfall and turnovers. Total quarterly industrial/logistics take-up recorded a strong 22% year-on-year growth, reaching 146,300 sqm. Cushman & Wakefield published its Q2 2021 industrial, office and retail market reports focused on the Slovak market.

Oxford Economics, one of the sources of CBRE Research, predicts a GDP growth of 6.9% for Romania, most likely the highest in the CEE region. With this in mind, it is clear that we are heading towards a fast-paced recovery. Luiza Moraru, Head of Property Management CEE at CBRE shared some facts and figures on investment market trends and talked about the growing activity of local investors on the Romanian market.

Panattoni is building a distribution centre in Siedlce and by doing so, it is also opening up a new market for warehousing space in Poland. Panattoni Park Siedlce comprising 24,600 sqm is to be an alternative location to Warsaw and shall meet the demands of e-commerce, as well as of local business development. The project is being built not far from the centre of the city near the A2 motorway just over an hour from Warsaw.

Malthouse Offices, the biggest office building of the Warsaw Brewery complex, as well as the historic Malthouse were acquired by Deka Immobilien, an international investment and asset manager. The buildings were sold for approximately €152.3 million.

The construction of the last hall of the biggest industrial park in Poland in which Accolade invested has begun. With 229,000 sqm of 100% leased GLA, Park Szczecin is one of the biggest multi-let parks in the country and will be fully completed in early 2022. From the very beginning, AUTODOC Logistics – Polish branch of the international AUTODOC Group, one of the leading players in the automotive aftermarket – has been growing together with Accolade and Szczecin Park and successfully expanding. With the fourth hall and a total leased space of 74,100 sqm, AUTODOC is now one of the largest tenants in the Polish part of Accolade’s portfolio.