ARTICLES LABELLED WITH TAG Poland

It's been a good, strong start to 2022 in Poland's office market, which offers hope that a long-awaited boom in demand is coming after a market slump. Companies have adapted to the new working conditions, and due to the easing of restrictions related to the covid-19 pandemic, they have launched a campaign to encourage employees back into offices. On the other hand, Warsaw and the eight largest regional markets, i.e., Kraków, Wrocław, Tricity, Katowice, Łódź, Poznań, Szczecin, and Lublin, may face a slowdown in new supply in the coming months. AXI IMMO looks at the current trends after Q1 2022 in the office market and analyses what will influence its development in the following months of the year.

Korean logistics company Unico Logistics has leased 11,250 sqm of space in the newly built hall at BIK Park Wrocław. The investment carried out by Biuro Inwestycji Kapitałowych near Wrocław will provide a total of 22,500 sqm of modern warehouse space. The commissioning of the ready-made facility is planned for September this year. The offer also includes free warehouse modules for rent.

EPP has finalised the sale of its 70% stake in the Towarowa 22 mixed-use project in Warsaw to AFI Europe. It is historically one of the largest land transactions in Poland in terms of value, with the total plot value exceeding €180 million.

EPP, the largest asset manager of retail real estate in Poland, implemented a sustainable development strategy in 2021. The company aims to conduct its business in a responsible and transparent way while reducing its environmental impact and strengthening its social commitment. Following the strategy, EPP has set targets for the years 2022-2025 and is launching its first report, giving its ESG achievements to date the framework of GRI international reporting and EPRA standards.

New office supply in regional cities in Poland hit a record high of 243,500 sqm in Q1 2022, representing an uplift of 5% on the previous peak in Q4 2019, reveals Savills. More new office space was delivered in the first three months of this year alone than in the whole of 2021.

The Polish warehouse market remained stable in Q1 2022, with a slight decrease observed on the demand side with 1.56 million sqm leased (-2.5% y/y). On the supply side, developers completed over one million sqm (+44% y/y) projects. A record-breaking 4.9 million sqm remains under construction, with factors such as inflation and rising material and contractor prices driving rental rates up. Not without matter for the entire sector is the geopolitical situation behind Poland's south-eastern border, which may temporarily increase the demand of tenants relocating their business from Eastern Europe in the following quarters of the year. AXI IMMO presented the results of the Polish warehouse market in the period January - March 2022 in the report "Polish Warehouse Market in Q1 2022".

According to the latest, fourth edition of a survey conducted by Zymetria (an analytical and research company) on behalf of Skanska's commercial development business unit, after two years of the coronavirus pandemic, 9 out of 10 Polish office employees believe that the traditional office is irreplaceable. Today, more than half of Poles work in a hybrid model – this translates to an almost double increase compared to May 2021. In addition, the hybrid is also the most preferred way of working – it is favoured by 70% of the respondents.

Morska Agencja Gdynia sp. z o.o., a specialist provider of sea, land and rail freight services, will become a tenant of one of the two buildings of Panattoni Park Tricity East V. It has leased 22,800 sqm of warehouse space in a build-to-suit facility. The tenant was advised on the choice of location and during lease negotiations by real estate advisory firm Newmark Polska.

Radomił Charzyński, Partner, Real Estate Practice and Deputy Managing Partner at Greenberg Traurig Poland talked to Property Forum about the impact of the war in Ukraine on the Polish property market, current financial conditions and consolidation forecasts.

Centerscape Investments has closed the acquisition of a retail park portfolio from Hunter REIM. Avison Young represented the seller in the transaction.