ARTICLES LABELLED WITH TAG Poland

The Polish office market was booming until the pandemic struck. 2020 brought many changes and a downturn in developer and tenant activity. How is the market doing in the new environment it found itself in over a year ago? Real estate advisory firm Cresa has analysed the current levels of pre-lets and the office development pipeline in Poland.

Commercial property is viewed as having below-average risk levels in most CEE countries. Revenues from different asset classes are expected to recover to pre-COVID levels most rapidly in Poland, according to the RICS Global Commercial Property Monitor for Q1 2021.

BPI Real Estate Poland has acquired a plot of land in the center of Wrocław for another project to be built in the capital of Lower Silesia. After Poznań, Warsaw and the Tri-City, this is the fourth location in Poland where the Belgian developer has recently purchased land with the intention to execute new construction projects. The acquisition of plots for new projects with a total gross surface area of 200,000 square meters is strictly related to the pursuit of BPI Real Estate Poland’s future development plans. 

Hungarian investor Indotek Group is ready to spend hundreds of millions of euros on diversifying its portfolio geographically. Krisztián Hornok, Transaction Director and Florin Tirla, Country Head for Romania & Bulgaria shared with Property Forum the details of the company’s ambitious international expansion strategy and also discussed the pandemic’s effects on the attractiveness of different asset classes.

According to Savills latest research, London City and West End, Paris and Warsaw’s office markets appear most attractively priced in Europe this year due to the opportunity for yield compression and/or attractive yield spreads to risk free rates.

After the revitalization of brownfields in Szczecin, Bydgoszcz, Czestochowa or Legnica, the former logistics centre in Konin built in the 60's is now coming into play. Accolade plans to invest over €15 million to remediate this property of an aggregated area of 7 hectares and to build a modern Class A ndustrial park. Including this project, the share of revitalized brownfields of the Accolade in Poland makes up 43 %. 

Product diversification on the Polish industrial market is a multi-faceted process that has gathered pace in recent years. Newly-developed warehouse projects may vary considerably in many respects, including size, location and function. Joanna Sinkiewicz, Head of Industrial & Logistics Agency at Cushman & Wakefield, explains how they differ across Poland.

Mecalit, a supplier of technical precision parts made of plastic, decided to sign a lease agreement for 10,500 sqm of warehouse space at the Central European Logistics Hub, an investment owned by Panattoni Europe. AXI IMMO was responsible for the comprehensive advisory services for the tenant.

Panattoni has completed the shell stage of another huge commission for the e-commerce sector. In Żerniki near Poznań, the developer is building a BTS facility with an area of 105,000 sqm for DHL Supply Chain. The latter company will use the space to carry out the logistics operations, among others, for Zalando required for distribution to several European markets – including Poland and Germany.

Avestus Real Estate has selected the general contractor for the Infinity office building in Wrocław. Comprehensive implementation of the project to be developed at Jana Pawła II Square (at the junction of Legnicka and Nabycińska streets) will be the responsibility of Eiffage Polska Budownictwo S.A. The investment with a total lease area of almost 22,000 sqm is scheduled to be completed in Q1 2023.