NEPI Rockcastle, through its subsidiary, has acquired all the issued shares in the Forum Gdańsk shopping centre from a company ultimately owned by Blackstone-managed funds. The transaction encompassed the repayment of all the asset’s outstanding debt. Forum Gdańsk is a 63,500 sqm GLA shopping centre, situated in Gdańsk, the sixth largest city in Poland by population, with over 470,000 inhabitants.

Berlin-based property developer firm Bauwert AG is entering a strategic partnership with Hungary’s Wing Group, as well as international investment & asset manager Griffin Capital Partners. For this purpose, the three companies signed an agreement under which Wing and Griffin will together acquire 60% of Bauwert’s shares. The remaining 40% will be kept in the ownership of the existing shareholders. Wing Group will have a controlling interest in the company.

LivUp has finalized the purchase of a property in Kraków from Galinvest. The new LivUp project will include about 80 residential apartments for long-term rental, as well as additional amenities and facilities. The first tenants are expected to move in by Q2 2023.

Panattoni proceeds with another development for Flex, a global supplier of equipment and technology. The lease agreement covered a total of 28,000 sqm at Panattoni Park Łódź A1, where the company will occupy both warehouse and office space. 

In 2023, offices in Poland will be more expensive, and their availability in the top locations of the largest cities will be lower, says Mateusz Strzelecki, Partner, Head of Tenant Representation at Walter Herz.

Trei Real Estate just opened another retail park of its Vendo Park brand in Poland. It is located in Mielec, a small town of around 61,000 residents in the Podkarpackie or Subcarpathian voivodeship in south-eastern Poland. The new Vendo Park has a lettable area of around 7,000 square meters and is occupied by twelve retailers and a supermarket. On the whole, Trei invested c. €11.9 million in the property. As a result, the Vendo Park portfolio of Trei has just increased to a total of 42 retail parks, 32 of which are located in Poland while the others are in the Czech Republic and Slovakia.

From the warehouse developers' perspective, 2023 will be marked by very well-thought-out purchases. With the costs of financing constantly rising, construction costs changing, and investors pressing for discounts on the existing warehouse market, the land market will be the first to feel this accumulated pressure, says Bartłomiej Krzyżak, Senior Director, Investment at Avison Young.

High energy prices and rising inflation are affecting market conditions across Europe. According to economists' forecasts, the most difficult period will be the coming winter. However, Poland is in a more favourable situation despite rising inflationary pressures, as JLL experts argue in their latest report on the retail market in Poland for Q3 2022. According to Oxford Economics, Poland's GDP will grow by an average of 3.0% per year between 2022 and 2026, well above the average for the EU as a whole and the eurozone (1.8%). In addition, Poland is projected to see the greatest increase in retail spending until 2026. Oxford Economics also reports that retail sales, in real value terms, are expected to grow by 4.6% per annum until 2026, placing Poland among the top European countries.

Savills Investment Management has outlined its global outlook for real estate investment markets in 2023. While next year may prove challenging for all investors, in the context of global market turbulence, Savills IM sees select opportunities in asset classes with strong long-term fundamentals such as urban industrial and logistics, affordable housing and essential retail.

The retail property investment market sector in Poland is thriving, thanks to the stable growth of retail parks (above 5,000 sqm GLA) and convenience retail (retail parks under 5,000 sqm GLA) schemes. Since 2016, 160 assets of this type have been finalized, says Avison Young Poland.