ARTICLES LABELLED WITH TAG Warsaw

Cushman & Wakefield has been appointed as sole letting agent for Astrum Business Park, a Warsaw office complex comprising 30,000 sqm of leasable space, by owner IRYDION Sp. z o.o.

Panattoni Europe is to build another facility for DSV Solutions. The 25,000-square-metre logistics centre will be erected in Pęcice, as part of Panattoni Park Janki II. The cornerstone ceremony initiating the project took place on 23 March, and completion of the investment is scheduled for August 2017.

Sky Office Center, located at 31 Rzymowskiego Street in Warsaw, has received the BREEAM In-Use International Certificate for “Building Management” and for “Asset Performance”, owner Hines Poland announced. The facility received the “Excellent” grade in both cases.

InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has announced the signing of Holiday Inn Warsaw West Station. The hotel will be developed with franchisees VHM Hotel Management, owned by the Satoria Group SA, and investors Capital Park. 

The Octava FIZAN fund is in the process of acquiring a portfolio of 11 office and retail assets in Poland, including Onyx in Kraków and Centrum Krakowska 61, Renaissance Tower and Eureka Park in Warsaw, from two BPH FIZ funds. Savills is advising the buyer on the transaction, which is expected to be finalized by the end of H1 2017. The parties did not reveal the value of the acquired assets, but the estimated value significantly exceeds €100 million.

Warsaw office building Wspólna 47/49 has been awarded a BREEAM IN-USE International certificate. It received an “Excellent” rating in Asset Performance and a “Very Good” rating in Building Management. The scheme is owned by CA Immo and Cushman & Wakefield is the property manager.

The supply of office space in Warsaw at the end of last year exceeded 5.18 million sqm after the stock increased by 410,000 sqm. BNP Paribas Real Estate Poland experts signal that 650,000 sqm of office space under construction and more than 1,000,000 sqm of additional pipeline projects constitute a vital argument for tenants either searching for new locations or planning to renegotiate their leases.

900,000 sqm of office space was delivered to market in Poland in 2016 – the market's best ever result. Furthermore, demand was 1.34 million sqm. Kraków and Wrocław remain the leaders among office markets outside Warsaw, while an excellent result was recorded by Łódź.JLL summarised 2016 on the office market in both Warsaw and the other eight major cities in Poland.

Cushman & Wakefield has been selected to act as property manager for the Grójecka Offices building currently under construction in Warsaw’s Ochota district. The new office building located at 206 Grójecka street will comprise 7 400 sqm of Class A office space and it will be completed in Q2 2017.

Poland remains the powerhouse of Central and Eastern Europe attracting close to half the capital invested in the region over 2016 as activity grew 5% over the year to €5.2 billion. According to Cushman & Wakefield, with the uncertainty around upcoming elections in major European countries and the ongoing Brexit challenges, Poland and the CEE region will maintain their strong position as a focus for any pan-European investment strategy.