ARTICLES LABELLED WITH TAG Wroclaw

According to “Occupier Economics: Office Market in Wrocław in 2017”, a report prepared by Cresa, last year’s office supply in Wrocław was the lowest in six years while occupier demand remained robust. The city’s office take-up hit 174,500 sqm, which represented a 40% increase compared with 2016.

Office take-up in 2017 hit a record high of 674,800 sqm in Poland’s regional office markets, up by more than 16% on 2016’s level. The strongest leasing activity was recorded in Kraków, Wrocław and Tricity. Cushman & Wakefield has published its MarketBeat report.

Business services companies remain core office tenants in Wrocław, setting new market trends and trying to attract top talent. Michał Grabikowski, Head of the Wrocław Office of Cresa Poland summarised the key strengths of Lower Silesia’s capital city.

Apleona GVA coordinated the refurbishment works at Radisson Blu Wroclaw on behalf of owener Union Investment. The refurbishment works lasted two months. The 12,000 sqm hotel offers accommodation in 162 rooms.

Wratislavia Center, a mixed-use property in Wroclaw has been sold to FLE, an investment advisor headquartered in Vienna. FLE bought the asset on behalf of FLE SICAV FIS, a real estate fund headquartered in Luxemburg and owning a commercial real estate portfolio in Europe and the US exceeding € 2 bn.

Catalyst Capital, a European real estate investment and fund management firm, has bought Nobilis Business House from Echo Investment for €44 million. The building, located on Marii Skłodowskiej-Curie Street in Wrocław, was completed in late 2016.

Globalworth provided an update on a number of initiatives completed prior to year-end: the acquisition of two land plots in Bucharest, an increase in its shareholding in Griffin Premium RE and the completion of the EPP deal.

Union Investment has expanded its Polish shopping centre portfolio by making its first investment of this kind in Wrocław. The latest addition to open-ended real estate fund Unilmmo: Europa is Magnolia Park, which comprises some 100,000 sqm of retail space. Sold to Union Investment by Blackstone for around €380 million, the shopping centre is almost fully let, with leases having an average of 4.2 years to run. The shopping centre will continue to be managed by Multi after the sale. Cushman & Wakefield advised Union Investment on the transaction.

Wrocław’s office market continues its upward momentum. Office take-up hit 132,100 sqm in the first three quarters of 2017, representing a 70% rise on the same period of 2016, says tenant-only real estate advisory firm Cresa in its latest report.

Triuva Kapitalverwaltungsgesellschaft (Triuva) has acquired the Green Day office building in Wroclaw, Poland from a Luxembourg fund advised jointly by GLL Real Estate Partners GmbH (GLL) and Investec Bank PLC. The purchase price is believed to be in the region of €48.5 million.