ARTICLES LABELLED WITH TAG Poland

An opportunity fund advised by Tristan Capital Partners has acquired a site with full development rights in the centre of the university city of Wroclaw, Poland’s fourth largest city, to build circa 22,365 sqm of prime office space with ancillary retail to be known as ‘Infinity’.

Panattoni Europe will build the main warehouse for Leroy Merlin in Central Poland, Łódź voivodeship. The facility will exceed 123,600 sqm at ground level, which makes it a record-breaking project in the Polish warehouse market. Construction works are scheduled to begin already in Q2 of this year and are expected to end in Q4 2019. The facility will undergo the BREEAM environmental certification process aiming for a Good rating.

Carrefour Poland presented an overview of the chain’s activities in 2017, the strategical objectives for 2018 as well as the actions that will be undertaken as part of the transformation plan of the Group, called “Carrefour 2022”.

Yareal has received the building permit to construct the first stage of the 65,000 sqm LIXA office complex. Yareal’s biggest office investment ever will co-create the business centre at Warsaw’s Daszyński roundabout.

Majority shareholder Lone Star (LSREF III GTC Investments B.V.) has informed developer Globe Trade Center (GTC) that it is considering the sale of entire 61.1 percent stake in the company. Lone Star appointed J.P.Morgan and UBS to assist them in this strategic review.

Panattoni Europe has completed the construction of two warehousing facilities with a total area of approximately 42,500 sqm for Raben Logistics Poland. The logistics’ new branch was built as a part of Panattoni Park Grodzisk III and is adapted to store approx. 50,000 pallets. The facility employs over 300 people and is able to serve over 85,000 shipments a day.

Panattoni Europe has completed the construction of a large-scale logistics centre for BSH Sprzęt Gospodarstwa Domowego. The 79,000-square-metre BTS facility with its own railway siding was delivered in Łódź, at the largest distribution complex in Poland, Central European Logistics Hub.

According to “Occupier Economics: Office Market in Łódź in 2017”, the latest report produced by Cresa, last year’s absorption rate for office buildings in Łódź hit a record high of 55,500 sqm. With office stock at 437,770 sqm, Łódź is Poland’s sixth largest regional office market. The city’s vacancy rate currently stands at 9.3% (up by 3.1 p.p. year-on-year).

Union Investment has acquired the Park Inn by Radisson Krakow, which opened in 2009. The transfer of rights and obligations with regard to the property is scheduled to take place by the end of May 2018. The 152-room hotel is located south of the Vistula river, close to the city centre and in the immediate vicinity of the modern ICE Congress Centre, where around 200 events are held every year. The vendor is a joint venture between subsidiaries of UBM Development AG and Lindorcenia Ltd. The Radisson Hotel Group manages the hotel and provides the brand name. The hotel is let on a long-term lease. The purchase price is approximately €26 million. Union Investment is acquiring the property for an institutional real estate fund.

The Focus Estate Fund has acquired Park Handlowy Eden (Galeria Eden), Zgorzelec (Poland). Focus intends to invest more than €1.5 million in repositioning the 8,500 sqm retail centre with the support of its partner in development and leasing, Młyn Retail Parks Sp. z o.o.