What’s next for the office market? What do occupiers want? What effect would an economic slowdown have on development? Heads of the European offices of real estate advisory firm Cresa talked about business opportunities and risks, and the global political uncertainty at their annual conference in Warsaw.
Cresa represented Primark, a leading international fashion retailer, in the lease acquisition of its first store in Poland. The unit of 3,660 sqm of retail space will be located in Galeria Młociny in Warsaw.
As global travel is becoming more affordable and accessible, hotel accommodation must also change. Hotels and hostels are no longer what they were ten or even five years ago and are adapting to coworking and coliving trends worldwide – they are more lifestyle-oriented, says Bolesław Kołodziejczyk, PhD, Head of Research and Advisory, Cresa Poland.
According to Cresa’s report, Katowice’s office stock has increased by nearly 9% over the year to almost 520,000 sqm at the end of the first quarter of 2019. More than 30,000 sqm is expected to be added to Katowice’s office stock by the end of this year.
Łódź’s office market has been well-balanced in terms of demand and supply for several years. According to Cresa’s latest report, the office stock of the Łódź market has increased by nearly 8% year-on-year and amounted to 471,200 sqm at the end of Q1 2019. Take-up in the first quarter of 2019 reached 15,100 sqm, up more than 50% on the same period in 2018.
Krakow’s office stock has increased by more than 15% over the year to more than 1.3 million sqm at the end of Q1 2019. According to “Occupier Economics: Office Market in Krakow Q1 2019”, a report published by m Cresa, the capital city of Lesser Poland continues to attract tenants and this trend is likely to carry on into the near future given the economic and cultural potential.
In 2018, Poland joined the group of 25 most developed economies in the world. In this context, last year’s data from the warehouse and industrial market are a confirmation that Poland fully deserved its upgrade, says Tom Listowski, Partner, Head of Industrial & Warehouse, CEE at Cresa, in the firm’s latest report
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