ARTICLES LABELLED WITH TAG Poland

GTC’s rental and service revenues decreased by €3.8 million to €37 million in Q1 2021 from €41 million in Q1 2020. Profit before tax and fair value adjustments for Q1 2021 reached €15 million, up from €13 million in Q1 2020. The company published its financial results for Q1 2021.

Shopping centre footfall in February in Poland, prior to the fourth lockdown, averaged approximately 80% of last year’s levels. Shoppers will return to shopping centres once restrictions are lifted, say experts of Cushman & Wakefield.

According to “Occupier Insight – Industrial and Warehouse Market Q1 2021”, a report prepared by Cresa, gross industrial and warehouse take-up climbed to 1.6 million sqm in the first quarter of this year, representing an increase of 51% compared to the first three months of last year. This result accounts for 46% of the annual average for the last five years and marks a record quarter in terms of leasing activity.

Logistics parks offering space that can be flexibly tailored to the needs of smaller tenants are increasingly high on the agenda of industrial developers, especially on the Warsaw market, according to Tomasz Bulej, Junior Negotiator at  Cushman & Wakefield.

LCP has signed a purchase contract for a retail park in Rawa Mazowiecka, located between Warsaw and Łódź. It offers over 2,700 sqm of GLA and 45 parking spaces. The size of the entire plot is over 5,200 sqm. Among the tenants are Kik, Dealz, Martes Sport and CCC.

Polish Logistics LLP, a new investment vehicle established by IO Asset Management, the specialist manager of industrial real estate, and REINO Capital, a real estate holding company listed on the Warsaw Stock Exchange, with the backing of Grosvenor Group, one of the largest privately-owned international property companies, has completed its first investment – the Logistic City prime logistics park in Piotrków Trybunalski. 

In the first quarter of this year €1.25 billion was spent on commercial real estate in Poland. This reflects a decrease of only 1.5% compared to the five-year average for the first quarters of 2017-2021. Offices have the largest share in the investment market, but the industrial and logistics segment is also continuing its streak. Capital investment came to Poland mainly from Europe, according to the latest CBRE report. The company's experts indicate that there is moderate optimism on the investment market, which is reflected in the safe choices of investors.

Aggregate revenue reported by nearly 20 construction groups whose stock is listed on the Warsaw Stock Exchange grew by a nominal 4.3% in 2020, which is a scant rise in real terms, given continued increases in the prices of building materials and labour costs. However, the aggregate net profit posted by these companies improved clearly as it grew by almost PLN 0.5bn over the year. Notwithstanding that, net financial performance of the listed construction companies and profit margin figures they report still pale in comparison to results delivered by property developers and suppliers of building materials and construction equipment.

The 7R City Park Poznań complex will house the first European plant of the Ningbo Tuopu Group, a Chinese automotive company. Tuopu cooperates with global brands from the automotive sector, such as BMW, Mercedes-Benz, Audi, Porsche, Volkswagen, Chrysler, Ford, Geely and General Motors. The Poznań factory, with an area of over 30 000 sqm, will produce components for electric cars. It will employ 450 people.

Close to 70,000 sqm of new retail space was delivered to the Polish market in Q1 2021, reveals Cushman & Wakefield. The new supply was dominated by small retail parks and standalone stores.