ARTICLES LABELLED WITH TAG Poland

2017 was a great year for the CEE property market and the scene is set for 2018 to be even better. However, there are always risks to be wary of. Andreas Ridder, Chairman CEE at CBRE revealed Property Forum his expectations for the CEE investment market in 2018.

Golub GetHouse has signed the purchase agreement of the property located at Jagiellońska Street 82 in the Warsaw district of Praga-Północ. The investment plot with a total area of 11,533 sqm is located opposite the Kozminski University. In the first stage of the project, a modern student house with cca. 430 beds and with student amenities will be constructed. The investment will be covered by the Golub GetHouse Property Fund II FIZ and in partnership with CA Ventures company, specializing in the construction of student houses in the USA.

The Polish warehouse market remains in great shape. New year-to-year records are being broken. Gross demand amounted to 4 million sqm, of which 75% was made up of new lease agreements and expansions. This is a 32% improvement compared to 2016. High demand side results are due to the accelerating economy, including internal consumption growing month by month, and an increase in investment by companies. Developers responded quickly to high demand from tenants, resulting in 2.36 million sqm delivered on the market and 1.39 million sqm under construction at the end of 2017. The high level of absorption caused the vacancy rate decrease to 4.5%, according to the report summarising 2017 in the warehouse space market in Poland, prepared by AXI IMMO experts.

Apleona GVA coordinated the refurbishment works at Radisson Blu Wroclaw on behalf of owener Union Investment. The refurbishment works lasted two months. The 12,000 sqm hotel offers accommodation in 162 rooms.

In 2017 the residential market took the lead in terms of land deals, recording all-time highs for both the number and value of sale/purchase contracts. The market for land suitable for office buildings and hotels also continued apace in 2017. The appetite of developers for new purchases was underlined by deals for several dozen properties throughout Poland, according to JLL.

Panattoni Europe is expanding Central European Logistics Hub. The new tenant at the developer’s largest distribution centre is the Media Expert chain, which will take up a facility with approx. 73,300 sqm of space. Construction works will start in Q2 of 2018.

Recent changes in Sunday trading laws and commercial property tax regulations have not discouraged investors, both the existing well-established players as well as new entrants to the market. Similarly to the previous year, the portfolio transactions in 2018 are expected to account for a significant share in the total investment volume. Jędrzej Suchowolec, Senior Advisor at Cresa Poland, commented on current investors’ interest in retail properties.

In 2017, the Polish industrial market continued to develop at a high level. The intense activity among developers, who delivered over 2.3 million sqm to the market, and among tenants who leased nearly 4.6 million sqm, led to another record for both sides – according to the latest report by Colliers International.

Poland remains an attractive destination for investments and this is reflected in the impressive results on the office markets both in Warsaw and regional cities. With ambitious plans, investors are looking to the future with optimism. JLL summarized the situation on the Polish office market in 2017.

Apleona GVA has secured a contract for technical support and advisory services during the pre-opening phase of the Holiday Inn Warsaw City Centre Hotel and the transition to the new owner. The 256-room property is ready to host its guests. It was officially acquired by Union Investment Real Estate GmbH on January 31st for its UniImmo: Deutschland fund.