ARTICLES LABELLED WITH TAG Poland

Orbis has concluded a preliminary agreement for the sale of two Polish hotels, Mercure Jelenia Góra and Mercure Karpacz Resort for a total net price of app. €6.1 million (PLN26.5 million) to an individual investor.

CTP broke ground on its first Polish development in the city of Opole. Initially a 13,000 sqm facility will be built for a long-term client, International Automotive Components.  With additional land available, the park has a planned built-up area of nearly 71,000 sqm.

Poland’s total industrial and logistics stock surpassed the 11 million sqm mark at year-end 2016. Leasing activity remained strong for another consecutive year, leading to record high take-up, with more than 3 million sqm being transacted. The largest leasing volumes were recorded in Warsaw’s suburbs and Upper Silesia, and – of the smaller markets – in Szczecin and Bydgoszcz-Toruń. Cushman & Wakefield presented is yearly review on Poland’s industrial market.

CBRE Global Investors, on behalf of the Property Fund Central Eastern Europe (PFCEE), has sold two office building in Warsaw, Poland, Trinity Office Park and Prosta Office Centre.

2016 was a record-breaking year for the Polish investment market and had the best investment performance since the financial crisis in 2009. With over €4.5 billion transacted in 2016, Poland remains the stand out performer across the CEE region, CBRE reports in its latest in research. 

Poland’s total retail stock stood at nearly 14 million sqm at year-end 2016. Shopping centres continue to dominate the market, accounting for 73% of the country’s stock, followed by retail warehouses (18%), retail parks (8%) and outlet centres (1%). Last year’s new supply totalled 460,600 sqm, of which more than three-fourths were delivered across shopping centres. Twenty two new retail schemes were opened in 2016: 15 shopping centres, the largest being Posnania in Poznań (99,000 sqm) and Galeria Metropolia in Gdańsk (34,000 sqm), two retail parks and five standalone retail warehouses. Extensions and redevelopments of 13 existing schemes provided 74,000 sqm of leasable space, making up 16% of the total annual supply. Cushman & Wakefield presented its latest report on Poland’s retail market.

One of the subsidiaries of Plaza Centers has completed the sale of Suwałki Plaza shopping and entertainment centre in Poland to an investment fund for €42.3 million, which is in line with the last reported book value, the company reports.

In 2016, total office stock in Poland’s eight key regional cities (Krakow, Wrocław, Tricity, Katowice, Poznań, Łódź, Szczecin and Lublin) rose to nearly 4 million sqm. Krakow, Wrocław and Tricity remain the largest regional office hubs. Office take-up hit nearly 590,000 sqm, which represented a 50% rise on the average for the years 2011–2015. Cushman & Wakefield presented an overview of the Polish regional office market for 2016 in its latest report.

Echo Polska Properties (EPP) has concluded a preliminary acquisition agreement with two real estate funds managed by Blackstone, to acquire 4 retail properties for €166.57 million. The properties are Galeria Twierdza in Klodzko (€40.67m), Galeria Twierdza in Zamosc (€53.51m), Galeria Tecza in Kalisz (€23.21m) and Wzorcownia Shopping Centre in Wloclawek (€49.17m). 

Savills has been appointed by Echo Investment to manage an 16,000 sqm office building, Nobilis Business House in Wrocław. The company has also been appointed to manage the 16-storey, mixed-use Wratislavia Tower on behalf of Cinema Tower Sp. z o.o. The 20,000 sqm property officially joined Savills portfolio in December 2016.