ARTICLES LABELLED WITH TAG JLL

Continued growth in the investment attractiveness of Warsaw has resulted in high demand for modern office space and is matched by tremendous developer activity. JLL summarised the situation on the Warsaw office market at the end of Q3 2017.

One car in Warsaw carries on average 1.3 people and, according to research conducted by JLL, in the Służewiec district of Warsaw, 87% of cars are only occupied by the driver. As a consequence, finding a vacant parking space becomes a great challenge, especially when the rapid development of office districts in all of Poland's major cities are taken into account. So what can be done about this rather sorry state of affairs? Well there are a number of solutions.

During the third quarter of 2017 the total commercial real estate investment transaction volume reached some €505 million in Hungary, pushing the 2017 year-to-date volume to nearly €1.3 billion, according to JLL Hungary’s latest statistics.

At the beginning of summer 2016, a production and distribution complex owned by one of the largest non-alcoholic beverage producers Coca-Cola HBC Czech and Slovak Republics, was added to the Slovak industrial market. The complex, which offers approximately 30,000 sqm of leasable area with ca. 35,000 sqm of adjacent land for further development was exclusively marketed by the Industrial Agency team in JLL Slovakia. From October 2017 the new owner is Priemyselný areál Lúka s.r.o. The value of the transaction remains confidential.

Poland continues to attract brands from across Europe. The significance and the share of the Food & Beverage proposition within shopping centers continues to grow. Furthermore, both new retail concepts and mixed-use projects have become increasingly popular as well. JLL presents its summary of the Polish retail market as of the end of Q3 2017.

ESON, a Taiwanese based company, put its mid-size production plan on the market. Located in the city of Partizánske, Western Slovakia, it offers approximately 7,000 sqm of industrial and warehouse space together with 3,000 sqm of office premises and accommodation facilities for employees. The production complex is situated less than 45 km away from the regional city of Nitra and Trenčín.

JLL Romania will provide technical consulting services for the construction of Groupe Renault's future headquarters in Romania, the largest office building currently under construction in Bucharest.

Kraków is the biggest office market in Poland outside of Warsaw. In August 2017 Kraków surpassed the threshold of 1 million sqm of overall supply. As for H2 2017, JLL expects that the volume of new office space will total 105,000 sqm, which would constitute the second best result in Poland with Warsaw claiming the top position

The Romanian market has attracted strong interest from international investors in recent years. Solid economic growth, improving perception and the availability of quality investment products have all contributed to the €400 million transaction volume registered in 2017. Andrei Văcaru, Associate Director of Capital Markets at JLL Romania explained Property Forum why Romania is on the right track.

Up to 210,000 sqm of modern office space was leased in H1 2017 by companies from the business services sector - this accounts for 60% of overall demand for office space outside Warsaw. According to forecasts by ABSL, employment in business service centres in Poland will continue to grow. By 2020, the sector will likely employ approximately 300,000 specialists, further fuelling office take-up. As a consequence, smaller cities will be even more competitive to attract investors. JLL has conducted an analysis of the activity of tenants from the business services sector outside Warsaw in H1 2017.