Arkadiusz Rudzki, Executive Vice President, Leasing & Sales for Skanska’s commercial development business unit in CEE, talked to Property Forum about the duration of the supply gap in the Warsaw office market, the current interests of investment funds and Skanska’s Scandinavian approach to implementing the ESG principles.

According to the newest report by Newmark Polska, in the third quarter of 2023, office take-up in Poland’s regional city office markets reached nearly 200,000 sqm, while the development pipeline was below 400,000 sqm. High vacancy rates in existing office buildings mean that tenants have a wide choice of options. Both developers and tenants remain focused on ESG, functionality, flexibility and optimisation of office usage and lease costs.

GLP has started construction of a new warehouse in Niepołomice near Kraków. The sole tenant of GLP Kraków III Logistics Centre will be MCG EastBridge, a new brand from the Maszoński Logistic portfolio, marking the largest lease transaction in terms of square footage on the Polish warehouse market in H1 2023. 

A new premium-quality privately-owned student residence has been launched as part of the Student Depot chain. Offering a total of 540 rooms and located at the junction of Modzelewskiego Street and Wilanowska Avenue in Warsaw, the facility was constructed on a turnkey basis by Kajima Poland. 

Trei Real Estate GmbH has obtained the building permit for its first rental housing development in Poland. Named UP2U and consisting of three buildings, the development will create a total of 460 one- to three-room apartments with a combined floor area of around 20,000 sqm in the immediate vicinity of the town centre of Poznań. 

7R has fully leased 7R Park Wrocław West II for Yusen Logistics. The tenant will occupy nearly 43,000 sqm in the facility. This is one of the largest leases this year.

Logicor has re-signed long-term customer Leroy Merlin, the French hypermarket chain, in an agreement that will see them expand their current facility at Logicor Stryków in Central Poland. Under the agreement, Leroy Merlin will occupy c.50,000 sqm of warehouse space there, which will be used as their main distribution centre for stores across Poland and the wider region.

MLP Group is embarking on a project to develop its second logistics park within the Łódź urban area. MLP Business Park Łódź will deliver more than 30,000 sqm of city logistics space, some of it designated for light manufacturing. The project will undergo the BREEAM New Construction certification of ‘Excellent’. The first facilities are expected to be available for occupancy by mid-2024.

Half of the hotel investors in CEE already address ESG in their transaction due diligence, and 40% are in the process of including it, says Cushman & Wakefield in their newest report.

Octava Property Trust has sold a development plot for an SBU warehouse project to an Austrian investor. According to real estate advisory firm Savills, engaged in the search for investors in partnership with Avison Young, Warsaw is the fastest-growing warehouse market in Poland.