ARTICLES LABELLED WITH TAG Cushman&Wakefield

Rebounding industrial production and easing inflation are helping the Slovak economy to avoid recession. In the industrial market, it is visible robust construction growth and demand surge. The office sector is resilient but vacant subleased spaces are increasing, while the rental rates are stable amid yield increases. Nevertheless, Slovakia's retail sector is facing challenging dynamics as market limitations amplify alongside a cautious expansion trend, largely due to geopolitical and economic uncertainty, Cushman & Wakefield reports in its Marketbeat Analysis for Q2 2023.

Cushman & Wakefield has released a summary of retail market conditions in Poland. At the end of Q2 2023, there was close to 500,000 sqm of retail space under construction, seven international brands debuted on the Polish market in the three months to June while the expansion of retail parks continued apace. On the other hand, both retail tenants and landlords continued to face high inflation which impacted their real turnover levels.

According to data from Cushman & Wakefield, Lublin is the leading Polish city in terms of retail space saturation for schemes exceeding 5,000 sqm. Its space saturation rate is 1,094 sqm per 1,000 inhabitants compared to 831 sqm for Warsaw – the most mature retail market in Poland. Paradoxically, this does not preclude further growth for developers active in this market. There is still room in the city for traditional retail parks that are developed in alternative locations - frequently on the outskirts – and are anchored by tenants offering convenience shopping geared to the day-to-day needs of inhabitants.

Stefan de Goeij is joining the Cushman & Wakefield ESG team as a Partner. The sustainability and property management professional will lead the CEE team as Head of Sustainability & ESG as of July 2023.

More than three-quarters (76%) of office stock across Europe will be at risk of obsolescence by 2030 according to the latest report from Cushman & Wakefield. One of the reasons is the increased level of legislative action around sustainability requiring investors to modernise real estate to ensure ESG compliance. To take one example, commercial property landlords are required in a growing number of cities across North America and Europe to install green roofs that help increase urban biodiversity, optimise energy costs and improve the user experience.

According to currently available data, 13 new brands have arrived on the Czech retail market in the first six months of this year. Most of them are in the fashion segment (clothes and accessories – seven brands) and culinary concepts (F&B – three brands). The latter are set to dominate the new arrivals this year: at least six F&B brands should come to the country by the end of the year, and other brands already present will open new branches, reports Cushman & Wakefield. 

Kostal Automobil Elektrik, a German-headquartered system supplier to the automotive sector, has signed a lease for over 17,000 sq m of manufacturing space in Panattoni Park Lublin IV. The company was advised on the choice of location and during the negotiations by Cushman & Wakefield.

The relocation of production facilities from far-away locations, such as Asia, is generating additional demand for industrial and logistics projects in CEE-based markets, with Romania being among the biggest beneficiaries, according to a Cushman & Wakefield report. 

European businesses have for years been shifting manufacturing to remote locations, targeting Asia Pacific in particular. Recent global turmoil has, however, disrupted supply chains, revealing the length and complexity of processes enabling the sourcing, transport and consumption of various products. Furthermore, the growing significance of sustainability is compelling companies to rethink their business strategies. This is naturally shifting the focus of business to nearshoring and… to Poland. Cushman & Wakefield estimates that warehouse occupancy and operating costs in Poland are even over 50% lower than in some Western European countries.

Warehouse deliveries in Poland reached a historic high in the first quarter of the year, reveals the latest report from Cushman & Wakefield. Despite occupier activity remaining on a downward trend, Poland is still one of the fastest-growing warehouse and logistics markets in Europe.