Warehouse occupiers are prioritising the shortening of supply chains to mitigate business risks, a trend that is likely to dominate the demand for warehouse space in Europe for the next three years, reports Savills and Tritax EuroBox plc, a leading investor in European logistics real estate. According to Savills, Poland becomes a target for larger Foreign Direct Investment facilities.
A rapid growth in student numbers will drive demand for student housing in the next five years across all larger European university hubs – especially major Spanish and Italian cities, Savills forecasts. Also in Poland, prime PBSA occupancy remains high despite the pandemic and provision of student accommodation is expected to grow soon across Polish cities.
Real estate advisory firm Savills presents a preliminary summary of 2021 and predicts trends for the coming months. The commercial real estate market in Poland is regaining momentum but has changed significantly, reveals Savills. Key trends expected to dominate in the year ahead include rental growth, increasing ESG awareness and a focus on innovation.
Properties in the mountain tourist areas have become more interesting for investors, according to a report by Savills, with demand having grown significantly in the first quarter of this year.
Apollo-Rida, the owner and property manager of Equal Business Park in Krakow, has appointed real estate advisory firm Savills as the sole leasing agent for office space in the complex.
According to the latest report by Savills, the record take-up levels and no speculative completions caused the vacancy rate on the Czech industrial space market to plummet 70 bps to a new low of 1.75%, one of the sharpest quarterly declines observed in the market in the last five years. The total volume of modern industrial space available for lease across the country fell from 226,700 sqm in June to 165,000 sqm in September.
The Polish warehouse market continues to power ahead, reveals the latest report from real estate advisory firm Savills. The development pipeline is historically high and take-up activity is on track for another record year. Leased buildings are being targeted by investors from all over the world. After the first three quarters, the logistics sector accounts for close to half of the total investment volume in Poland.
The total volume of real estate investments in the Czech Republic reached €328 million in the third quarter of 2021, being 24% below the previous quarter but 8% up year-on-year, according to Savills latest report.
According to Savills, preliminary data for European office markets for Q3 2021 shows take-up had increased 15% year-on-year, although still below the five-year average. Positive office market data is also provided by Google’s mobility index, with Warsaw leading the way among surveyed European capital cities.
Online documentation and efficiency solutions company Craft Docs secured a 1,000 sqm of office space in the renewed Krausz Palace office complex in downtown Budapest. The company will move in August 2023. The startup has become the first tenant of the building, Jake Lodge, principal of Avision Young Hungary responsible for the leasing and operative management of the building said.
A new tenant has moved into the Eximius Park office complex near Kraków. GoE Wellness is a British healthy lifestyle start-up that is expanding its operations in Europe. The company's new office has an area of approximately 900 sqm and is located in building 200.
Galeria Jurajska is strengthening its offer. Three new tenants - fashion brands Quiosque and Lovisa and patisserie Lody Czewskie - will soon appear in the Częstochowa shopping centre.
New appointments
CPI Property Group is expanding its retail leasing department. Dariusz Kafara has been appointed as the new Leasing Manager. At the Warsaw branch of the company, Dariusz is responsible for maintaining the maximum level of commercialisation in two retail park chains from the group's portfolio - CityMarket and STOP SHOP.
Brian Nyeng Olesen, formerly head of commercial at the Salling Group, has been appointed as the new managing director of Netto Polska. The position was previously held by Hugo Mesquita.
M Core appoints Magdalena Kowalewska as the new Chief Operating Officer at LCP Properties, Poland. This comes at the same time that Krystian Modrzejewski has accepted a post as the Group Head of Expansion for Poland, where he will be responsible for realising the opportunity for land and asset acquisition in aid of portfolio growth. LCP Properties Poland is part of the M Core group, which brings together family-owned companies that invest in and manage real estate. It comprises LCP, Proudreed, Sheet Anchor, GIPAM and Evolve Estates.
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