ARTICLES LABELLED WITH TAG Poland

Hillwood Polska has signed credit agreements with Bank Pekao S.A. for the construction of three warehouse projects: in Częstochowa, near Rawicz, and in Łazy near Warsaw, with a combined value exceeding €89 million.

According to AXI Immo, more challenging economic situation and a ‘wait and see’ approach adopted by market players have been the key factors affecting the Polish industrial real estate sector in H1 2023. Gross take-up amounted to 2.24 million sq ]m (-39% y/y) between January and June. A soft patch was also visible on the supply side. Although a relatively large amount of space was added to the market in H1 2023 (2.6 million sqm, marking a 9% y/y increase) and total stock increased to 30.6 million sq \m, there was only 2.13 million sqm under construction as at the end of June 2023 – 50% less compared to a year earlier. The vacancy rate climbed to 6.7% at the end of Q2, marking a 3.3 p.p. increase on Q2 2022.

Law firms are among the most active office tenants. They have for years shown a strong preference for central HQ locations, trophy offices and a high standard of finish, reveals the latest research from Savills.

MCG EastBridge, part of the Maszoński Group's portfolio is growing. Following a record-breaking deal on the Kraków warehouse market in Q1 2023 for nearly 37,000 sqm at GLP Kraków III Logistics Centre, the company decided to expand by more than 19,000 sqm. Under the signed agreements, MCG EastBridge will occupy a total of 56,200 sqm and will be a single occupier in the development, which is being built in the Niepołomice Investment Zone near Kraków. The two-stage lease is the largest signed transaction in the Polish warehouse market in the first half of 2023. In both cases, MCG EastBridge was represented by AXI IMMO.

Panattoni has completed Panattoni Park Kraków North, its largest project in Małopolska with an area of over 56,500 sqm. Trivium Packaging is to occupy around 21,000 sqm while Almus is to take up over 25,000 sqm. These are two of the largest leases signed by Panattoni in the region.

Mark Richardson, an investment expert with more than 20 years of professional experience in European commercial real estate, has joined Savills Poland as Head of Investment.

MDC2, together with the investor, Invesco Real Estate, finalized the lease of 10,784 sqm of space in MDC2 Park Gliwice. The tenant is an international manufacturer providing comprehensive IT solutions for energy markets, service providers, enterprises and industrial markets.

Jacek Korwin-Małaszyński and Michał Korwin-Małaszyński, Members of the Board of APP Projekt, one of the leaders in construction engineering in Poland, have talked to Property Forum about the current situation on the property market, prices of the materials and the impact of the '2% Safe Credit' on the industry.

Focus Estate Fund plans to convert its entire shopping centre portfolio to solar-powered facilities. The first initiative was inaugurated with the installation of solar panels at Galeria Awangarda in Bartoszyce.

Warehouse developer LCube has secured planning permission for another of its investments – Lcube Mszczonów. The project calls for the development of an industrial and warehouse park, spanning approximately 31,500 square meters on a nearly 8-hectare site.