August 18, 2015

On the verge of a record – office investment transactions outside Warsaw

On the verge of a record – office investment transactions outside Warsaw

The volume of investment transactions concluded on Poland’s major office markets outside Warsaw reached €234 million in H1 2015. In the corresponding period of 2014, volume hit the €220 million mark. Investor appetite remains high and the upcoming months for regional office markets look even more promising.

“Transactions worth a total of €385 million were concluded on the Polish office market in H1 2015. €234 million of this sum consisted of deals outside the capital city, meaning the regional markets' volume exceeded that of Warsaw and reached 59 percent share in Poland's office investment transactions. Kraków proved to be the regional star with the highest H1 office investment volume outside Warsaw,” said Sławomir Jędrzejewski, National Director, Office and Industrial Investment at JLL.

Investment transactions concluded on office markets outside Warsaw in H1 2015 included:

  • Enterprise Park in Kraków (vendor: Avestus, purchaser: Tristan Capital Partners)
  • Kazimierz Office Center in Kraków (vendor: GTC, purchaser: GLL)
  • Green Horizon in Łódź (vendor: Skanska, purchaser: Griffin Group
  • Baltic Business Center in Gdynia (vendor: BPT Optima, purchaser: Octava S.A.) 
  • West House 1B (part of West Forum) in Wrocław (vendor: Archicom, purchaser: GNT)
  • Millenium Plaza in Katowice (vendor: Aviva, purchaser: Lone Star)

Tomasz Puch, Regional Director, Head of Office and Industrial Investment at JLL, summarized: “After the excellent result of 2014 when €440 million was recorded on office regional markets, investors have maintained the pace in 2015. Factors such as a lack of large schemes available for purchase in Warsaw, strong tenant activity in the biggest agglomerations outside the capital city, availability of interesting office buildings and attractive yields have enticed investors to Kraków, Wrocław, the Tri-City as well as Łódź, Poznań and Katowice. Taking into consideration transactions awaiting finalization, and assuming that the ongoing negotiations will be concluded by year end, the overall volume of office investment transactions outside Warsaw can potentially reach even €750 million in 2015, up 70 percent on last year.”

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