ARTICLES LABELLED WITH TAG Poland

Despite numerous challenges, businesses in retail and manufacturing view their current state better than they did a year ago. The sentiment of warehouse tenants is presented in the latest Confidence Index report jointly prepared by CBRE and Panattoni.

Żabka Group has unveiled its automated logistics centre in Radzymin, just outside Warsaw. This facility is the largest and most technologically advanced addition to Żabka Group's logistics infrastructure. Enhanced with an automated high-bay warehouse and an internal transport system, the centre has been specifically designed to expedite logistics services for the Group’s stores.

According to a new report by JLL, total retail space under construction in Poland totalled 387,000 sqm at the end of Q1, with 69% generated by retail parks. In addition, nearly 94,000 sqm of the first quarter’s total was attributable to shopping centres with the largest projects being the Sukcesja shopping centre in Łódź (currently undergoing renovation), the Bawełnianka shopping centre in Bełchatów (already opened in April), and Galeria Goplana located in Leszno. The convenience retail format had the sector’s smallest percentage share in space under construction.

According to Savills, growth in prime rents is set to remain robust across the continent having increased by 10.4% in the last four quarters. This is despite vacancy creeping up to 3.5% in Q1 2023, reflecting the impact of slower leasing activity.

Barceló Hotel Group has opened Barceló Warsaw Powiśle, a 4-star hotel with 151 rooms and suites at the Elektrownia Powiśle complex in Warsaw.

Resi4Rent has announced on LinkedIn that it has secured financing worth PLN 613 million to expand its portfolio of PRS flats. The funds raised will be used to build 2,700 new units in Kraków, Wrocław, Poznań and Gdańsk. 

The Polish warehouse real estate market has slowed after a record period of growth that was achieved during the pandemic. Gross demand for warehouse space in Poland for Q1 2023 totalled more than 982,000 sqm, a 35 percent year-on-year drop and an 18 percent decline compared to the five-year average. According to JLL's analysis, however, Q1 2023 was better than the corresponding periods in 2019 and 2020. Most of the new demand was in Poland's major logistics regions.

Panattoni has started the construction of Panattoni Park Poznań East II with an area of approximately 35,000 square meters. The project will be financed by Santander Bank, allocating a sum of €18 million.

The metamorphosis of the Marynarska Business Park office complex implemented in Warsaw’s Służewiec district by PineBridge Benson Elliot and Syrena Real Estate is nearing completion. Work has been finalised on the outdoor area, replacing a 6,000 sqm concrete car park with a green park open to the city, covered with green hills. The project is changing its name to Diuna.

Older buildings are making way for new ones, and the trend of redeveloping plots in the centres of large cities in Poland is intensifying. Furthermore, the plans include not only new development projects that arise after demolitions but also transforming existing office buildings into residential projects, including those in PRS (Private Rented Sector) formula, says Avison Young Polska.