Companies signed lease agreements for nearly 723,000 sqm of modern office space in the first six months of 2017. This constitutes the best ever result for Poland's market. In total, nearly 320,000 sqm was completed while 1.8 million sqm of office space remains under construction. JLL summarised H1 2017 on the office market in Poland.
After spectacular 2016 economic results and a record-breaking FDI level of €4.1 billion, Romania’s prospects for 2017 look very promising. Bucharest, a specialized IT hub in the CEE region, has recently welcomed several new global brands such as Fitbit and the Coface Group. This influx has boosted the city’s office sector and is making Romania's capital city an attractive destination for investment funds. The yield spread between Western and even other CEE markets is still significant, with prime office yields in Bucharest at around 7.25%.
Gross take-up on the Romanian industrial market grew by 54% in H1 2017, compared with the same period of 2016, to 350,000 sqm. According to JLL Romania, the total demand for industrial space reached 180,000 sqm in the second quarter, a comparable level with the one registered in the first quarter of this year.
The office market in Warsaw broke another record – total demand for office space in H1 2017 was 391,400 sqm. Wola continues to grow in terms of both popularity and significance. JLL summarised H1 2017 on the office market in Warsaw.
South African fund Hystead has acquired of The Mall, one of the largest shopping centres in Bulgaria, located in the capital city Sofia. The acquisition, upwards of €156 million, represents the fourth investment in the region by Hystead Limited, a joint venture between Hyprop Investments and Homestead Limited, who previously acquired the Delta City shopping centres in Podgorica and Belgrade alongside Skopje City Mall in Macedonia at the end of 2016.
Net take-up of office spaces in Bucharest amounted to almost 80,000 sqm in the first half of the year, which means an additional 10,000 jobs, considering that companies usually allocate for each employee 8 square meters. In total, gross take-up reached 185,000 sqm in H1 2017, a small decrease when compared to first 6 month of last year (192,000 sqm), JLL reports.
During H1 2017, the retail stock in Poland grew by 63,100 sqm. Shopping centres accounted for 16,600 sqm, retail parks for 21,500 sqm and standalone projects for 25,000 sqm. Recent market openings include standalone store Agata Meble (18,000 sqm) in Rzeszów, retail park Kalinka (9,700 sqm) in Kalisz as well as Tarasy Grabiszyńskie centre (8,500 sqm) in Wrocław. JLL summarised H1 2017 on the retail market in Poland.
JLL Bratislava has announced two mid-year promotions. Ján Bošácky has been appointed Head of Research with overall responsibility for market research and advisory services, whereas Samuel Šporka, Head of Industrial Agency and Tenant Representation, has been promoted to Associate Director.
JLL will launch its new office in Łódź, which will be the company’s fifth unit in Poland. Marta Pyziak has been appointed head of the company’s newly-established unit.
In 2017, 151,000 sqm of new office premises will be added to the Prague Market. This represents an increase of 13% above ten-year average. JLL listed the most important players on the office development market in Prague.
Wunderman Thompson Technology has decided to relocate its office in Poznań to the Nowy Rynek E building by Skanska, under construction at the junction of Wierzbięcice and Matya streets. In selecting the location and negotiating the lease, the tenant was supported by experts from the Poznań office of the Colliers consulting company.
Objectivity, an IT company, has extended its lease agreement in Wrocław's West Forum complex. The annex concerns nearly 4,400 sqm of office space and approximately 140 parking spaces.
Consulting firm Altman Solon has leased 900 sqm of office space on the 21st floor of the Widok Towers skyscraper in Warsaw. It will move into its new office at the end of the year.
New appointments
Dominik Pawlak takes the position of Director in the Office Agency department at Avison Young Poland, where he will be responsible for the company's key clients, as well as training junior team members.
Tezenis brand has joined the tenants of Galeria Warmińska. This is the first showroom of this Italian brand in Olsztyn in Poland. The new boutique occupies an area of approximately 190 sqm.
Anna Trębicka will be responsible for the integration of all CBRE business lines in the Łódź region in Poland, as well as the development and proper functioning of the Łódź branch.
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