ARTICLES LABELLED WITH TAG Poland

Adventum International, a Malta-based boutique investment fund manager, has acquired the 10,000 sqm office building Renaissance Plaza in the most dynamically growing area of the Polish capital from REInvest Asset Management, a Luxembourg-based asset and fund manager. The 7-storey, Class B+ office building is fully leased to Orange Polska S.A.

New office space for lease is being absorbed very quickly in Tricity. In the first half of 2019, the region’s net absorption of 16,300 sqm nearly matched new supply (17,400 sqm). Approximately 50,000 sqm of new office space is scheduled for delivery by the end of 2019.

Aberdeen Standard European Logistics Income PLC has exchanged contracts to acquire a newly built fully income-producing logistics warehouse in Warsaw, Poland, for a purchase price of €27.5 million providing a net initial yield of 5.64%. The agreement is with developer Panattoni Development Europe and Marvipol Logistics. Completion of the acquisition is currently scheduled for later in the month.

Sales of new apartments measured jointly for the six largest markets in Poland increased by 6% q-o-q, according to JLL. The late boom in Poznań and Łódź means records may be broken by the close of the year.

Panattoni Europe embarks on a new project near the Tricity Airport – Panattoni Park Gdańsk Airport. The distribution centre with close to 107,000 sqm has already got a stamp of approval from BBK S.A. – 68,500 sqm of the facility will be used as a multifunctional warehouse for home&you, a leading brand of interior furnishing articles. Completion of construction works is planned for mid-2020.

The third quarter on the Warsaw office market saw record-breaking demand and closed with an impressive 284,000 sqm. This means that nearly 690,000 sqm has been leased since the beginning of the year. At the same time, the vacancy rate is gradually decreasing with companies increasingly choosing pre-let contracts.JLL summarised the Warsaw office market at the end of Q3 2019.

According to Savills, more than €700 million has been invested in the senior living sector across the UK and Europe since the beginning of the year, which is the highest level ever recorded. In Poland, the market in this sector is on an early stage of development but has great potential.

ATAL SA – a Polish developer – selected Knight Frank as its exclusive agent to commercialize the Krakowska 35 office property in Wrocław. The consultancy will also manage the property. The edifice with a total area of ca. 14,000 sqm will be handed over for use in Q1 2021.

Over the last decade, the country's retail sector has grown by nearly 40%. The increasing maturity of the sector has changed how new stock is distributed and has motivated landlords to diversify their offer. JLL summarised conditions on Poland's retail market.

Challenges and changes in the retail sector are continuing to impact the dynamics of the European shopping centre market with new research from Cushman & Wakefield showing development activity across the continent is strongly polarised at both a country and city level.