In total, 121,000 sqm of office premises in 6 A-class office buildings that form a significant part of the Investika real estate fund´s portfolio in Poland has achieved international environmental BREEAM certification. Four properties have been certified at the “Excellent” level, while two have obtained the “Very Good” level. Successful BREEAM certification, one of the two most widely recognized international sustainability standards for buildings, is part of Investika real estate fund´s ESG strategy.    

Leasing activity on the Warsaw office market continues unabated despite low new supply levels, pushing the vacancy rate down to 10.7% Meanwhile, pre-lets are on the rise, indicating growing occupier interest in office buildings under construction, reveals the latest quarterly report from BNP Paribas Real Estate Poland.

Českomoravská Nemovitostní (ČMN) has completed the acquisition of the Churchill Square office complex in Prague near the Main Railway Station. It has bought the remaining 25% stake from the investment group Corporate Finance House Group.

Cushman & Wakefield has summarised the third quarter of 2024 on the largest office markets in Poland. Office take-up in key regional cities remained on par with the figures recorded in the same period in 2023, signifying stability on the office rental market. Meanwhile, stagnation on the supply side, coupled with limited construction activity, is likely to push vacancy rates down in the future.

Evo Properties, the owner of London & Oslo office buildings in Western Bucharest, has reached a 50% lease rate this year and aims to reach an occupancy rate of 85% by the end of 2025. At the same time, it continues to transform the project into a mixed-use hub that will include a premium hotel.

Developer activity in the Warsaw office space market is progressively increasing. More than 70,000 sqm finished by the end of September 2024 and around 280,000 sqm under construction in the coming years demonstrate that investors and developers are moving the industry forward. Take-up stays steady at roughly 490,000 sqm in Q1-Q3 2024. Axi Immo summarizes the present condition in the capital's office market. 

According to a report published by Newmark Polska, in the third quarter of 2024, both leasing and development activity on the Warsaw office market remained largely consistent with the levels recorded in the previous quarter. Office take-up, previously dominated by renewals, saw a notable increase in pre-lets which accounted for 22% of the total leasing volume. Meanwhile, Warsaw’s vacancy rate continued its downward trend observed since the beginning of the year.

Cushman & Wakefield has summarised the situation on the Warsaw office market for the third quarter of 2024. Office take-up, both in leasing volumes and transaction numbers, was comparable to that recorded in the same period in 2023. Meanwhile, muted development activity, falling vacancy rates – particularly in central locations – and shrinking land availability are likely to encourage investors to launch redevelopment projects.

Romania remains one of the most affordable countries in the EU for office fit-outs, with costs significantly lower than in Poland, the Czech Republic, or Western countries, according to research by iO Partners. 

WOOD & Company has announced the sale of the Westend Tower office building in Bratislava. This transaction is the first sale of an office building within the WOOD & Company Office Subfund portfolio and a signal of recovery in the commercial real estate market.