According to a report published by Cresa Poland, the vacancy rate on Poznań’s office market stood at 13.3% at the end of Q3 2020, down by 1.2 pp on the second quarter. It is the only office market in Poland to have recorded a quarterly fall in vacancies.
During the first nine months of 2020, developers completed over 530,000 sqm of office space in Poland: 231,600 in Warsaw and 305,000 sqm in eight major regional markets (Kraków, Wrocław, Tricity, Poznań, Łódź, Katowice, Lublin and Szczecin). Due to the new supply and moderate demand, more than 1.2 million sqm of office space is now available. Axi Immo presented the latest data for the Polish office market as at the end of the third quarter of 2020.
The 12-month rental outlook for both prime and secondary CBD offices is stable in Bucharest and Budapest and negative in Warsaw. In Prague, the outlook is negative for prime assets and stable for secondary assets. The vacancy rate is expected to increase over the coming year in all of the four capital cities. Occupier conditions are currently neutral across the region, with Bucharest and Budapest expected to become tenant markets over the next 12 months, according to Colliers International.
Two retail parks in the Czech portfolio of the Focus Estate Fund end their year with zero vacancy: Most Retail Park (GLA – 6,471 sqm) in the city of Most and Centro Ostrava Retail Park (GLA – 7,699 sqm) in the city of Ostrava.
Tenant demand for modern logistics and manufacturing space in Poland is growing at a rapid pace. In H1 2017, warehouse supply totalled 707,000 sqm while take-up hit a record high of 1,786,000 sqm, as revealed in Cushman & Wakefield’s latest report.
Free office space is dwindling in the Czech Republic. The office vacancy rate in Brno, as well as in Prague, has slipped below 10%. Both cities experience the lowest rate of vacant offices in the last decade. Brno recorded a sharp decline by 2.4 percentage points in H1 2017, while in the capital demand totalled 153,500 sqm in Q2 2017, up 45% on the previous quarter and 36.9% year-on-year. Overall, more than 370 deals were closed in Prague in H1 2017, many of which were pre-leases. In contrast, in Brno there was an 8% drop in lettings compared to H2 2016.
Net take-up on the Czech industrial market in Q2 2017 totalled 231,200 sqm, representing a yearly decrease of 11%. The vacancy rate reached 4.1%, having decreased marginally by 6 bps since Q1 2017. The Industrial Research Forum announced the industrial market figures for Q2 2017.
Sinsay, part of the LPP group, has opened its largest store in the Czech Republic in Ostrava Retail Park with the help of CBRE.
COS – Corporate Office Solutions Romania leased 4,000 sqm in Miro Office Bucharest, developed by Speedwell. A co-working space will be organised in the newly rented space.
108 Agency Slovakia has secured the lease of 510 sqm for our client Goldman Systems. Their new premises will take place in River Park Bratislava.
Michał Baranowski joined the tenant representation team at the Office Agency of BNP Paribas Real Estate Poland. Michał has over 15 years of experience working for some of the largest Polish and international office furniture manufacturers.
Alexander Rafajlovič has joined CA Immo as Head of Market Research & Data Analytics. Based in Prague, he and his team will be responsible for coordinating, structuring, and analyzing all macro and market-related data across the region, as well as tracking, analysing and interpreting trends affecting CA Immo’s business, both for future investment and development opportunities, as well as the existing portfolio. He previously worked as Partner in Cushman & Wakefield’s CEE Capital Markets team.
Tomasz Czuba has joined the Management Board of JLL Poland and has been appointed Head of Office Agency and Tenant Representation.
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