ARTICLES LABELLED WITH TAG Warsaw

Yareal has received the building permit to construct the first stage of the 65,000 sqm LIXA office complex. Yareal’s biggest office investment ever will co-create the business centre at Warsaw’s Daszyński roundabout.

Panattoni Europe has completed the construction of two warehousing facilities with a total area of approximately 42,500 sqm for Raben Logistics Poland. The logistics’ new branch was built as a part of Panattoni Park Grodzisk III and is adapted to store approx. 50,000 pallets. The facility employs over 300 people and is able to serve over 85,000 shipments a day.

Savills has set up China Desk, a special section within its Warsaw-based Corporate Finance & Valuation department, dedicated to Chinese investors interested in the Polish commercial real estate market.

By the end of 2017, total retail stock in the Warsaw agglomeration amounted to 1.76 million sqm, of which shopping centres accounted for 1.2 million sqm. Other formats include retail parks (276,000 sqm), standalone retail objects (212,000 sqm) and outlet centres (57,000 sqm). Approximately 85,000 sqm of space was delivered to the Warsaw retail market last year with the largest completed object being Galeria Północna (64,000 sqm). Furthermore, the saturation level in the shopping centre format totalled 472 sqm / 1,000 inhabitants and was the third lowest rate among the eight major metropolitan areas nationwide. JLL summarised 2017 on the retail market in the Warsaw agglomeration.

Globalworth Poland (GPRE) announced the acquisition of Warta Tower, a modern office tower in the City Centre West district of Warsaw for a consideration of €55 million.

Warsaw, Poland’s capital and largest city, has a population of more than 1.75 million. It is also the country’s biggest labour market and home to many university-level schools with a strong R&D sector. It boasts a relatively low unemployment rate which stood at 5.6% at year-end 2017 and the highest gross monthly salary averaging €1,300 (PLN 5,432). Warsaw is growing at a rapid pace, combining modernity with history, new business districts with green areas, the latter accounting for 28% of the city’s total area in 2017, and investing in both public transport and alternative means of transport (including 400 km of cycle lanes as at the end of 2017). Cushman & Wakefield has launched its latest report Warsaw 2020 on Warsaw’s future and major developments transforming the city’s skyline

London ranked as Europe's most attractive city for businesses and employees for second year running, according to Colliers International's latest European Cities of Influence report, which reviews and ranks cities based on their occupier attractiveness, availability of talent, and quality of life factors alongside economic output and productivity; Paris, Madrid, Moscow and Birmingham making up the rest of the top five.

Poland has seen record-breaking absorption on the office market. In the last year alone, companies occupied additional 800,000 sqm of office space. This translates into more than 80,000 additional job positions in modern office buildings, JLL reports.

Atenor’s new Polish affiliate has signed a preliminary agreement to acquire long-term lease rights on two 30,500 sqm office buildings in Warsaw. These office buildings are known as the University Business Center and are located in the Mokotów district. They offer approximately €3 million in annual rental income.

Warsaw’s central office district went through a transformation process in recent years following the delivery of a number of modern office developments such as Q22 or Warsaw Spire, which have already been acclaimed as unique and landmark schemes. However, in addition to modern buildings and futuristic skyscrapers, this area is also home to second-generation offices developed before 2000 and historical buildings which form an integral part of the capital city’s centre. Michał Wachowicz, Consultant, Capital Markets at Cushman & Wakefield analysed Warsaw’s CBD.