ARTICLES LABELLED WITH TAG Warsaw

On Wednesday the 15th of November (between 8:30 and 14:30) the Belgian Business Chamber (BBC) is organising the annual Real Estate Conference. The Real Estate Conference is an industry event dedicated to the investment market, real estate and construction companies. Property Forum is a Media Partner of the event.

From January to the end of September 2023, the total demand for modern office space in Warsaw amounted to nearly 0.5 million sqm. Tenants often choose two contract options, i.e., they relocate to a new space or decide to renegotiate existing terms. The vacancy rate is decreasing, standing at 10.6% at the end of September 2023. On the supply side, developers delivered just over 20,000 sqm to the capital's office market in January-September 2023, indicating a supply gap period in Warsaw. Nevertheless, more than 240,000 sqm is under construction, most of which will be completed by the end of 2025, says Axi Immo. 

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.

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. 

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. 

CTP has leased 15,000 sqm of warehouse space to Polish logistics operator TAS Logistyka at CTPark Warsaw South. The company will launch activities for a client from the electronics and household appliances sector there.The new warehouse space will be used for the storage of household goods, as well as in-plant logistics and co-packing services. 

Office availability in the Warsaw office market is shrinking, with the vacancy rate for the whole city down to 10.6% and to just over 9% in the centre, says Savills. Tenants are, however, likely to enjoy a wider choice of options once more office projects are restarted. This process is already slowly getting underway, as is clear from the growing development pipeline.

Octava has sold the Obrzeżna Center office building in Warsaw to a Polish investor. The price has not been disclosed. Avison Young and Savills jointly represented the seller.

According to the latest report published by Newmark Polska, tenants in the Warsaw office market continue to carefully review their needs, including potential office locations, while landlords are actively adapting the standard of office space to occupier requirements. New leases, including pre-lets, accounted for more than half of all deals recorded in the third quarter, but renegotiations still represented a large proportion of total take-up. At the same time, there is still a strong interest in ESG solutions and their implementation.

Lux Med Group, a provider of private healthcare services market in Poland, has leased more than 13,000 sqm of office space in Atenor's Lakeside property. Occupying more than half of the building's space, Lux Med has therefore become Lakeside's biggest tenant, whereas the deal is the largest single office transaction of the Warsaw office market so far in 2023. The new Lux Med office will open in the second half of 2024.