ARTICLES LABELLED WITH TAG Savills

Savills has been instructed as sole letting agent for office and retail space in the Wratislavia Center in Wrocław, managed by the Austrian investor FLE GmbH.

Multifamily investment has proven to be the most resilient real estate sector in Europe during 2020 and the new core, with a 6% increase year on year and a 17% increase on the past 5-year average, according to Savills.

Sale and leaseback transactions (S&LB) in Europe reached a total of €8.4 billion in 2020, 8.5% higher than the five year average, with the trend set to continue into 2021, according to Savills. Also in Poland, Savills sees an increasing number of companies willing to take the sale and lease back route mainly in industrial and retail sectors.

Modern industrial stock in the Czech Republic grew by 314,800 sqm in H2 2020, indicating a mild (7%) decline in construction activity compared to H1. The total industrial inventory intended for lease according to the latest Savills report totalled 9.11 million sqm and 62% of the total inventory was held within the three largest submarkets of Prague (3.21 million sqm), the Pilsen region (1.33 million sqm) and the South Moravia region  (1.15 million sqm).

Commercial property investment volume in the Czech Republic amounted to €797 million in H2 2020 with 60% of the H2 transaction volume (i.e. €478 million) being for properties located in Prague, according to Savills research.

A quarter of all modern warehouse and industrial space in Poland was transacted in 2020, says real estate advisory firm Savills in its latest report. Despite the pandemic, take-up hit record levels last year, reaching more than 5 million sqm, while Poland’s total logistics stock surpassed the 20 million sqm mark.

InPost, which owns a network of parcel lockers Paczkomaty®, will launch a new 6,000 sqm logistics centre in Prologis Park Chorzów. One of Poland’s largest logistics operators was advised on the transaction by real estate advisory firm Savills.

In 2020, office take-up hit its lowest level in ten years amid pandemic headwinds despite the largest-ever single lease contract signed to date and one of the highest volumes of new office space coming onto the Warsaw market on record, says real estate advisory firm Savills. Rents remained resilient and the overall vacancy rate is still below the levels last seen during the previous supply peak five years ago.

Savills top picks for value-add investors this year are logistics developments in undersupplied markets such as the Nordics and Spain, short-term income sectors such as flexible offices and student housing, which are likely to recover in the second half of this year, and multifamily developments in markets with rising demand for rental such as Southern and Eastern Europe.

2020 has been dominated on the commercial real estate market in Poland by the pandemic, whose impact varied from sector to sector though. The pandemic has, however, given rise to or accelerated a number of developments, some of which are likely to stay with us for longer. Real estate advisory firm Savills explores future trends in its preliminary summary of 2020 and its outlook for the next 12 months.