Budimex SA has signed the final sales agreement of Budimex Nieruchomości. Therefore, the private equity investment firm Cornerstone Partners and Czech development group Crestyl took over the entire shareholding of the company. This is the biggest acquisition in Poland and Central and Eastern Europe since the outbreak of COVID-19 pandemic. The next stage is changing the name of the company - Budimex Nieruchomości is now Spravia.
Bluehouse sold the Korso Karviná shopping centre (in the Northern Moravian region of the Czech Republic, east of Ostrava) to local investor Conseq Investment Management in this year’s first shopping centre transaction on the Czech market.
By purchasing a 50% stake in a business partner, Fidurock has become the 100% owner of Retail Park Choceň on June 8, 2021. With this step, the company completed the acquisition, which began in 2018 with the purchase of 50% of building land. The construction itself began in April 2020 with the opening to the public taking place in December of the same year.
The industrial and logistics market is booming across the region with e-commerce and logistic companies being the main drivers of growth from the tenant side. Laurent Jechoux, Business Director at Czech industrial developer Contera talked to Property Forum about current projects, market trends and the company’s entry into the office market.
At the end of May, the Chamber of Deputies, the lower house of the Parliament of the Czech Republic, has approved an amendment to the building law that aims to accelerate approvals on large construction projects. If approved by the Senate and signed by the President, it should come into force on July 1, 2023. Property Forum asked two renowned market experts for their comments on the possible changes.
VGP has signed two lease agreements with OKAY, the Czech electronics and furniture retailer. The company has leased more than 50,000 sqm of warehouse space in VGP parks Vyškov and Prostějov. The new hall in Vyškov is already under construction and will be handed over in September this year, at which point the park will reach 100% occupancy. The building in Prostějov will be ready for use from January 2022. Both projects are being carried out under BREEAM Sustainable certification, level Very Good.
GLP closed the acquisition of Goodman Group’s CEE portfolio less than a year ago. With the integration complete, the company is developing a number of large-scale projects. Błażej Ciesielczak, the CEO of GLP Central and Eastern Europe talked to Property Forum about the growth of the logistics market and shared the company’s expansion strategy for the region.
AFI Europe has completed the €66.5 million acquisition of the Avenir Business Park in Prague 5 from Tristan Capital Partners. The office complex, offering more than 25,600 sqm of premium office space, is close to 100% occupancy. Long-term tenants include companies such as ČSOB (belongs to the KBC Group), ING, Porsche, McDonald's, Conduent, Dermacol, Simac Technik and Coloplast.
Grupa Azoty, a producer of fertilizer and chemical components has extended its lease in the Warsaw Trade Tower. The company occupies 1,160 sqm in the skyscraper, which is owned by Globalworth.
108 Agency Slovakia has mediated the lease of 720 sqm for its client Mercurtrade in Beta – Car Park Pezinok.
Kontri Sp. z o.o., an e-commerce company has decided to lease a 2,800 sqm warehouse and office space in a private distribution centre near Białystok in Poland, owned by the Dutch investor Duif Real Estate Sp. z o.o. AXI IMMO was responsible for comprehensive tenant service.
At the beginning of July, Aleksandra Gawrońska will take up the position of Head of Residential Research at international advisory company JLL. Aleksandra has ten years’ experience in the areas of consulting and complex real estate analysis. Before joining REAS (now part of JLL) in 2018, she worked at Colliers International, where she was responsible for publications, reports and analyses of the office market in Poland.
JLL in the Czech Republic announced the appointment of Steffen Walvius as Head of Sustainability Services and ESG. In his new role at JLL, Steffen Walvius will help clients with building on their own sustainability performance. JLL will thus offer this service as the first provider on the Czech real estate market.
Gabriella Sasvári has been promoted to Managing Partner of Horizon Development's Board of Directors in Hungary. As Development Director, she also dedicates her time to important property development projects including Promenade Gardens, Szervita Square Building and ParkSide Offices.
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