ARTICLES LABELLED WITH TAG Cushman&Wakefield

Office fit-out costs in Prague are still competitive despite rising construction costs and higher demand for modern work environments. According to the latest report from Cushman & Wakefield EMEA Fit Out Cost Guide Prague's offer of high-quality office spaces is at more favourable prices compared to other European cities.

Greenstone, a private equity fund, has finalized the acquisition of the remaining 20% stake in the Format office building from Torus, becoming the sole owner of the property. This follows Greenstone's initial purchase of an 80% stake in Format in May 2024. Just like in the first transaction, the seller was supported in this process by Cushman & Wakefield. The value of the deal has not been disclosed. 

The European luxury retail market has been thriving, with 83 new luxury stores opening in 2024 across 20 key shopping streets in 16 cities and 12 countries, according to Cushman & Wakefield’s latest insights.

According to data from Cushman & Wakefield, Poland’s commercial property investment volume hit approximately €5 billion in 2024, marking a strong rebound of around 140% year-on-year. Additionally, Polish capital significantly increased its share of investment activity, with transactions totalling €444 million last year - an almost threefold rise from 2023. However, for this momentum to continue, systemic solutions such as the adoption of the long-awaited REIT legislation are necessary. If implemented, these measures would help prevent a potential outflow of Polish investors from the real estate market, especially when yields begin to harden. 

Cushman & Wakefield has been appointed as property manager for part of the warehouse and logistics portfolio of international investment company Accolade. It will provide asset services for properties with a total area of over 440,000 sqm in locations across Poland such as Mińsk Mazowiecki, Konin, Elbląg, Kielce, Piła, and Koszalin, and in the Czech Republic, including Stříbro Park, one of the largest warehouse parks in the Czech market. 

Cushman & Wakefield has strengthened the hospitality leadership team in Central, Eastern & Southeastern Europe. Alina Cazachevici has become the Head of Valuation & Advisory for Hospitality and Alternative sector in Central, Eastern & Southeastern Europe. 

REICO LONG LEASE, an open-ended mutual real estate fund managed by REICO investiční společnost Erste Asset Management, has acquired a newly built logistics property in Senec, Slovakia. This marks the fifth property added to the fund's portfolio.

Companies in regional cities in the Czech Republic have been facing an increasing challenge in finding quality office space, reports the Regional Research Forum. H2 2024 data for Brno and Ostrava shows that a shortage of office space is thus creating pressure on the market and tenants.

In 2024, nearly 80,000 sqm of new, modernised, or expanded retail parks were completed in the Czech Republic, now totalling 1.3 million sqm of retail space, almost a third of the total retail space capacity on the market, reports Cushman & Wakefield.

Cushman & Wakefield has summarised the situation in Poland’s largest office markets at the end of 2024. Leasing activity in both Warsaw and regional cities remained at 2023’s levels, while development activity continued to stagnate. By contrast, the capital market experienced a rebound, with the office investment volume rising to €1.64 billion and Warsaw recording a more than threefold increase.