ARTICLES LABELLED WITH TAG Poland

Tenants on the office market are cautiously optimistic as demand for offices outside Warsaw grows. Advisory company JLL summarizes the situation on the Polish office market in H1 2021.

Accolade Group, in cooperation with its JV partner, invested almost €26 million in a Class A warehouse facility in Wielenin-Kolonia in Central Poland. The entire facility is occupied by K-Flex, a worldwide leader in the production of elastomeric insulation, with a lease term of 17 years.

Panattoni has turned its focus back onto the Warsaw market. In a strategic location – close to the planned New Central Polish Airport – Panattoni Park Błonie III is now under construction. The investment with an area of more than 90,000 sqm has already started and has its first tenant: logistics operator GTFL, which specialises in full truckload and international transportation. The company will consolidate the space it currently occupies in the country at the end of this year, when it will move into its newly leased 7,700 sqm premises. It was represented by consultancy Cresa Polska for this transaction.

Over 21,000 sqm of office space located on 13 floors, terraces for tenants and a basketball court – this will be the second phase of the Centrum Południe office complex currently being developed by Skanska. Like the existing buildings, the new phase will apply for numerous certificates, including the WELL Core&Shell. 

Dorota Latkowska-Diniejko, Vice-President of the Board of REINO Partners talked to Property Forum about the changes caused by the pandemic in the Polish market and waiting for the long-awaited law implementing REIT-type financial structures.

The 75% occupancy limit does not mean working at full capacity, but the recovery of the hotel market is driven by the return of holiday travel and stronger demand for hospitality services. Although the industry is facing a number of challenges, hotel owners hold onto their assets, they are reluctant to sell at a discount, believing that business will return to pre-pandemic levels. JLL summarizes the current situation on the Polish hotel market.

European Logistics Investment (ELI) has started construction works of the second phase of its warehouse scheme in one of the key logistics regions in Poland – Silesia. Park Tychy II, a 43 000 sqm project is planned as a mixed-use property with BREEAM certificate at the Excellent level. The building is already leased in almost 100% to two tenants – Tiberina Group subsidiary U-Form, a leading supplier of components for the automotive sector in the EMEA region and Nodium Group, the owner of two online platforms – sport-shop.pl and nodik.pl.  

The Polish Chamber of Commercial Real Estate (PINK) has published figures summarising office market in eight major regional markets in Poland (Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Lublin, Szczecin) for Q2 2021. 

The European warehouse property developer MLP Group is to build a BTS facility for Hart Logistics, a Polish provider of logistics and transport services. The lease has been brokered by Profi-Home of Poznań.

Utmost cautiousness, falling transaction volumes and waiting for the office sector to finally catch its breath and the large retail schemes to redefine their strategies contrast with considerable investor interest in specific retail formats, the dynamic growth of the logistics sector, and strong entry of European players onto the domestic residential rental market. This is what—according to the latest report by BNP Paribas Real Estate “At A Glance: Investment Market in Poland in Q2 2021”, Poland’s commercial property investment market looked like in the second quarter of the year.