ARTICLES LABELLED WITH TAG Poland

The year 2017 saw the greatest amount of industrial space built in Europe in its history – more than 3.7 million sqm. This represents a 68% increase over 2016 and a 55% increase over the existing record dating back to 2007 (an additional 1.2 million sqm). The total industrial space in the region has increased by 17% as a result. Such are the results of a survey conducted by Cushman & Wakefield, a company that has been monitoring the industrial property market in the Czech Republic, Slovakia, Poland, Hungary and Romania on a long-term basis.

According to data by JLL, the volume of office investment transactions concluded in Poland for 2017 was approx. €1.6 billion. A record-breaking €970 million of office investment deals was reported in major cities outside of Warsaw.

Zalando Lounge, online fashion platform Zalando’s shopping club, plans to build a 130,000 square meters large fulfilment centre together with its developer Hillwood. The new site will increase the logistics capacity of Zalando Lounge and flexibility of operations. Intralogistics will be tailored to the specific requirements of Zalando Lounge, taking temporary campaigns and occasionally larger products from the home category into account. The site will be operated by a provider. About 500 jobs will be created in the mid-term.

Warsaw’s central office district went through a transformation process in recent years following the delivery of a number of modern office developments such as Q22 or Warsaw Spire, which have already been acclaimed as unique and landmark schemes. However, in addition to modern buildings and futuristic skyscrapers, this area is also home to second-generation offices developed before 2000 and historical buildings which form an integral part of the capital city’s centre. Michał Wachowicz, Consultant, Capital Markets at Cushman & Wakefield analysed Warsaw’s CBD.

According to the latest analysis prepared by the Capital Markets team Cushman & Wakefield, investment volumes in Central and Eastern Europe reached nearly €13 billion in 2017. All CEE countries grew at a similar rate and maintained their share of the overall regional volume. Despite political risk perceptions, Poland grew most rapidly at 9% y-o-y from approx. €4.6 billion to €5 billion, which was the highest result recorded in the last 10 years. 2018 has already seen the benefit of deals that slipped from late 2017 with the investment volume in Q1 2018 likely to exceed €3 billion.

In 2017, approximately 360,000 sqm of new retail space was delivered to the Polish market, which is 15% less than in 2016. Most new shopping centres were completed in the eight largest agglomerations (over 66% of completions). Thus, at the end of 2017, the total stock of modern shopping centre space in Poland reached approximately 11.5 million sqm, according to Colliers International.

2017 was the best year ever for Poland's industrial market with gross demand totalling 3.9 million sqm, JLL reports. Retailers and logistics operators continued to drive the market, together accounting for more than 65% of net take-up in 2017.

Łódź will become the second Polish city after Warsaw with projects by HB Reavis. The company has become the new owner of a plot at 2 Targowa Street in Nowe Centrum Łodzi (The New Centre of Łódź). According to the local zoning plan, the area will consist of office buildings with publicly accessible retail and walkable spaces on the ground floors. The listed buildings located on the plot will also be preserved. The price of the plot has not been revealed.

Panattoni Europe will develop a manufacturing facility for Pilkington IGP. The project will take up more than 10,000 sqm at Panattoni Park Białystok. Production will be launched by early September this year, and at the initial stage of operations the plant will employ approx. 200 people.

Business services companies remain core office tenants in Wrocław, setting new market trends and trying to attract top talent. Michał Grabikowski, Head of the Wrocław Office of Cresa Poland summarised the key strengths of Lower Silesia’s capital city.