ARTICLES LABELLED WITH TAG Poland

The first half of 2020 saw a record high investment activity with €3.5 billion of investment transactions closed on the Polish market. Although this was a 30% higher result compared to the corresponding period of last year, achieving a full-year result similar to the record-breaking €7.8 billion volume of 2019 may be difficult, according to Avison Young.

BWI Group, a global automotive suspension parts design and manufacturing company, has moved into a unique passive building in Europe. The group's research and development centre will begin operations in Balice near Kraków, where advanced technologies will be developed to increase the functionality of shock absorbers. The developer, 7R, has prepared an energy self-sufficient facility for the company, using an advanced trigeneration system. The building will obtain a BREEAM Very Good certificate.

European Logistics Investment (ELI) together with its strategic partner Panattoni is to lease more warehouse space. At the facility Panattoni Park Ruda Śląska II almost 57,000 square meters will be delivered for use, of which nearly 45,000 square meters have been leased out to the tenants Dywidag and LATEX Opony Inc.

What will the Warsaw office market look like in the next 18 months? Experts of Savills have outlined two potential scenarios. Both scenarios foresee a short-term decrease in demand and rising vacancy rates, but with a different scale of impact of the COVID-19 pandemic on the Polish capital’s office market. Both also forecast that the market will remain resilient in the long term.

There are only four construction projects with a unit value in excess of PLN 3 billion (€670 million), excl. VAT, currently underway in Poland. The combined value of these projects, commonly referred to as megaprojects, is almost PLN 17 billion (€3.8 billion), excl. VAT. This is not a lot, given the fact that projects worth a total of nearly PLN 300 billion (€67 billion) are in the pipeline.

Savills has been appointed sole letting agent for office space in Eximius Park, an office complex on the outskirts of Kraków. The buildings of the complex have been upgraded since they changed hands and are now ready to welcome new tenants.

Chariot Top Group BV, a company managed by Griffin Real Estate, has finalized the sale of the investment plot located in Katowice at Al. Górnośląska.

The implementation of the office projects under construction is in full swing in Kraków. The construction of new buildings will depend, however, on the demand for offices from the business services sector, which is its main recipient on the Kraków market, according to consultancy company Walter Herz.

Starting July 2020, Rondo Business Park, an office complex located in Kraków, will be managed by Globalworth. A percentage of over 80% of the company's Polish portfolio is represented by in-house managed assets. 

Pandemic-related economic and social restrictions have given rise to multiple questions on the office market. Will the demand for office space remain unabated? Will office projects underway be delivered on time? Cresa has reviewed pre-let levels and the progress of office projects currently under construction in Warsaw.