ARTICLES LABELLED WITH TAG Warsaw

There is definitely a trend of less space requirement in the Polish market. Marta Zawadzka, Leasing Director at Yareal Polska talked to Property Forum about the incoming supply gap in the Polish office market and changing preferences of the tenants.

Student Depot plans to complete two new investments in Warsaw and Łódź in the autumn. Both student residences will open at the beginning of the academic year 2023/2024, thereby increasing Student Depot's portfolio by nearly a thousand beds. The new residents will find fully furnished rooms, coworking areas, multimedia rooms, as well as fitness zones.

Peakside Capital Advisors has started construction of City Point Targówek, the largest logistics park in Warsaw. It will provide 100,000 sqm of modern and sustainable warehouse space in a prime location near the city centre. The warehouse park will seek top LEED and BREEM certification ratings, and it will also pursue WELL certification, which has never been awarded in this market segment before.

Cushman & Wakefield has summarized the first quarter of 2023 and trends shaping the Warsaw office market, which came third among key European office locations for take-up. The Polish capital is entering a phase of renewing leases made in the peak years of 2018-2019. Another positive development is the prospect of several new construction starts in the city’s central zones. According to Cushman & Wakefield, new projects will experience the strongest upward pressure on rents.

Mindspace, the flex office provider, has opened its second Polish location, Mindspace Skyliner at Rondo Daszyńskiego in Warsaw. The new location spans 4,400 sqm and comprises private offices, common areas and boutique conference rooms.

The upcoming launch of the first hotel in Poland for the Barceló chain, operating under the brand name Barceló Hotels & Resorts, marks the final phase of investment for the Elektrownia Powiśle complex in Warsaw. It represents the completion of all planned construction work for the revitalization of the former power station site, which was conducted by Tristan Capital Partners’ EPISO 4 Fund and White Star Real Estate.

JLL Poland has been selected as the exclusive agent in charge of the commercialization process of the LIFE Building office building - formerly Atrium Tower, which belongs to the Vig Fund, a group company of Vienna Insurance Group AG Wiener Versicherung Gruppe.

According to a report published by Newmark Polska, during the first three months of 2023, occupier demand on Poland’s regional city office markets remained strong amid increasing office availability and a further drop of development activity. The markets continue to adapt to the new standard created by the rise of the hybrid working model and the growing focus on flexibility in office layouts and uses.

In the first quarter of 2023, developers focused on regional markets in Poland. Kraków, Wrocław, and Tri-City have been enriched with new office spaces. Meanwhile, no new office buildings were built in Warsaw. Current interest from tenants remains at a fairly high level. Demand recorded in Q1 2023 was distributed proportionally to the Warsaw market and regional cities. Tenants attach importance to ESG issues and the comfort of working from the office for their employees. The challenge facing the office sector is rising service charges. AXI IMMO presents data summarizing Q1 2023 on the office market.

Adventum Group, which focuses on CEE real estate investments, have completed the fifth acquisition through its Adventum Penta Fund SCA SICAV-RAIF. The fifth acquisition of the fund is the Wola Retro office complex in Warsaw, Poland which was constructed in 2019 by Develia SA.