ARTICLES LABELLED WITH TAG Cushman&Wakefield

Demand for office space in Brno is changing, companies are more reserved towards commitments due to higher costs. New construction will bring additional metres to the market, which, together with the tenants’ behaviour, will gradually decrease its absorption. Vacant meters will be filled gradually and slowly, which could be fuelled by the arrival of more international companies, says Cushman & Wakefield´s analysis.

Take-up hits its second-highest on record as new supply sets an all-time high – that’s the story of the Polish industrial market in 2022 in a nutshell. According to the latest report from Cushman & Wakefield, development activity is expected to be more muted in the coming months, with the market entering a phase of stability. 

According to Cushman & Wakefield, 2022 witnessed a recovery in commercial real estate investment activity in CEE, with the year closing marginally up compared to the previous year. Total investment volumes in Central and Eastern Europe came in at €10.7 billion, up by 6.6% year-on-year. With more than €5.7 billion worth of deals, Poland continued to lead the way across the region.

Bydgoszcz Logistics Centre will continue to lease 45,000 sqm of warehouse space to leading grocery chain Kaufland. During the renegotiation of the lease conditions, CBRE Investment Management, the owner of the complex, was represented by Cushman & Wakefield.

In 2022, the Polish office market recorded a strong performance in terms of demand for office space which came predominantly from the financial, IT and business services sectors. Meanwhile, development activity slowed down amid rising construction costs and the deteriorating economic backdrop. This will result in a ‘supply gap’ in the largest regional city office markets and Warsaw alike, says Cushman & Wakefield in its latest report.

The Polish branch of Cushman & Wakefield advisory agency is reorganizing and expanding its service in the field of defining, achieving and reporting ESG objectives. Its ESG Hub of experts from various business lines will be led by Katarzyna Lipka, Head of Strategic Consulting and Research, in partnership with Ilona Otoka, Senior ESG Consultant. The ESG Hub will deliver and expand its services for Cushman & Wakefield’s clients in cooperation with the firm’s global network of ESG and sustainability specialists.

Cushman & Wakefield has taken over the management of a portfolio of three shopping centres and one retail park in the Czech Republic. Hungarian investment group Adventum Group bought this portfolio from Tesco last year in a unique transaction involving 18 retail projects across the CEE region. Cushman & Wakefield assisted its long-standing client Tesco in the sale and is now managing and exclusively leasing 50,000 sqm of retail in the Czech Republic space for Adventum.

Victoria's Secret's first "real" Czech store - so far an outlet has only operated at Prague's airport - is to open in Prague’s Westfield Chodov shopping centre in May this year, Cushman & Wakefield announced.

Despite many negative factors, Q4 2022 showed that the economy in Slovakia should grow by 1.8% in 2022. Energy prices were stabilized, inflation peaked and we could see the increase in yields. The Slovak industrial sector remained once more the most resilient real estate segment and experienced very solid performance in 2022. In the same period, the lack of new supply resulted in lowered vacancies in offices. Overall retail park projects dominate both this year’s new supply and future retail development with limited space for larger retail schemes due to high saturation. Cushman & Wakefield published its market reports for Q4 2022.

The Warsaw office market saw a shrinking volume of space under construction and increasing pressure on rents in 2022. However, according to the latest report by Cushman & Wakefield, the capital's market could see a significant tenant recovery as contracts signed in the record period of 2018-2019 come up for renewal.