ARTICLES LABELLED WITH TAG Poland

Ghelamco has finalised the sale of Przystanek mBank, a build-to-suit office complex in the New Center of Łódź. The transaction led by companies from the Ghelamco Group included a long-term investor LCN Capital Partners and mBank. The value of the transaction is approximately €60 million.

The total warehouse and industrial stock in Poland has surpassed the 13 million sqm mark. In the period from January to September 2017, new supply totalled more than 1.6 million sqm and occupier activity remained healthy. A new report by Cresa describes the current situation as a golden age for the Polish industrial market.

In 2017, Green Caffe Nero, TK Maxx, Dla Spania, KappAhl, Newbie, Home&Deco, Good Label, T-Mobile and Forever 21 opened twelve new stores across Poland totalling more than 9,800 sqm of floorspace. Each project was delivered by the Retail Agency team of Cushman & Wakefield.

Panattoni Europe is building Panattoni Park Zielona Góra – a modern multi-tenant distribution centre, planned for 75,000 sqm. At present, nearly 50,000 sqm, in three buildings, are under development. The space has been leased by both manufacturing companies and logistics businesses, which will be able to move into the park in early 2018.

Globalworth announced that is has acquired a 67.90% of the issued share capital of Griffin Premium Real Estate, a Dutch entity listed on the Warsaw Stock Exchange.

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.

Tricity is the third largest regional market in Poland, after Krakow and Wrocław, in terms of office stock, now at 693,000 sqm. Absorption set a new high of 62,600 sqm in the first three quarters of 2017, compared to the five-year average of less than 39,000 sqm, says Cresa in its latest report.

The Board of Directors of TK Development has decided that going forward, property development activities will be confined to the Danish and Swedish markets, and the activities in Poland will be divested.

London is currently Europe’s leading financial and banking services hub, but it may lose some of its appeal for businesses targeting the European Union following Brexit. Some financial institutions will move their operations outside the UK. Frankfurt and Paris will definitely benefit, but Warsaw is also one of the contenders. Bolesław Kołodziejczyk, PhD, Head of Research & Advisory, Cresa Poland analysed the potential impact of the UK’s departure from the European Union on the Polish market.

Panattoni Europe is to build a factory for Ontex, a Belgian producer of personal hygiene products. The facility featuring in excess of 26,000 sqm will be located in Radomsko, within the Łódź Special Economic Zone (ŁSSE). Construction works are about to begin in early December and are scheduled to end in July 2018.