ARTICLES LABELLED WITH TAG Poland

Due to the lockdown caused by the outbreak of the COVID-19 pandemic, most companies embraced a remote working model and scaled-down business activity. How did this affect the Polish office market? Cushman & Wakefield presented a summary of H1 2020.

Gross demand on the Polish industrial market reached 2.2 million sqm in H1 2020 which is the best result for the first half of the year in the market’s history. New leases and expansions accounted for nearly 1.7 million sqm, which is a 30% improvement y-o-y. This means that Poland is the only country in Europe to have seen net demand growth in H1 2020, according to JLL.

Panattoni has announced another Warsaw development, which is to be built on a 1.9 ha site next to the S7 junction with the S8 expressway just a few kilometres from Warsaw's Chopin Airport. City Logistics Warsaw Airport II will have an area of 9,000 sqm and construction work is to begin in August.

According to consulting company Walter Herz, the consistently expanding office market of Tri-City has the lowest vacancy rate in Poland currently and the office stock of the Tri-City agglomeration will exceed 1 million sqm after the construction of the ongoing investments is completed.

The Polish industrial market continues its strong momentum. Both take-up and supply reached high levels in H1 2020, say experts of global real estate services firm Cushman & Wakefield, summarising the first half of 2020 on the industrial market in Poland.

CBRE Global Investors, on behalf of its Logistics Venture Fund (LoVe), has acquired Building C of 7R Park Beskid I, a newly developed 15,000 sqm logistics warehouse located in Czechowice-Dziedzice in the Bielsko-Biała region of Poland.  The vendor was 7R.S.A.

Kajima Properties Europe and Savills Investment Management have launched a new strategic partnership with the completion of the acquisition of Panattoni Europe’s interest in the 144,880 sqm Łódź City VI logistics park in Central Poland.

The Polish warehouse market maintained its robust momentum in the first half of 2020, with a record 2.38 million sqm leased. Gross take-up in the second quarter of 2020 – during a time of strict COVID-19 lockdown measures - was as much as 50% higher compared to the same period in 2019, at 1.36 million sqm. Such good outcomes were the result of high demand for space on the back of booming e-commerce trade and numerous BTS transactions which commenced earlier in the year, according to Axi Immo.

Ever since shopping centres in Poland were reopened in May, the share of online sales in total retail sales has been falling steadily - it stood at 7.7% in June compared with 9.1% a month earlier and 5-6% before the pandemic. Cushman & Wakefield has summarised Q2 2020 on the Polish retail market.

Atrium European Real Estate has completed the sale of five retail assets in Poland to Metropol Group. The value of the transaction remains confidential. The seller was represented by the Avison Young and JLL investment teams throughout the transaction.