Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, September 20, with Winston Norman, Editor and Chief of EuropaProperty.com.
Panattoni sells BTS facility for €53 million to German investor
Panattoni has sold a BTS facility developed for the retailer TEDi in Stargard, Poland. The 87,000 sqm building was purchased for €53 million by a German investor, based in Dortmund.
The West Pomeranian market is one of the first in the country to exceed one million sqm of modern industrial space. The region benefits from its excellent location – including its proximity to the north-western border and the Port of Szczecin-Swinoujscie which, in the first half of 2022 alone, allowed the handling of 17.5 million tons of goods, increasing last year’s results.
“The finalized transaction of a BTS facility confirms both the appetite for “green” investments and the huge potential of the West Pomeranian region,” says Dorota Jagodzinska, Managing Director at Panattoni.
SHEIN to open distribution hub in Wrocław V Logistics Centre
GLP announced the lease of a 40,000 sqm facility at GLP Wroclaw V Logistics Centre to SHEIN, a global e-commerce company. The new facility will open by the end of the year and serve as its Central and Eastern European distribution hub.
“We are actively engaged in the construction of the distribution hub and plan to recruit more than 1,000 operators by mid-2023,” commented SHEIN.
Michał Szczepaniak, Business Development Manager GLP responsible for the project commented: “This significant transaction for the e-commerce market in Poland marks yet another successful step in GLP’s long-term relationship with SHEIN.”
GLP Wroclaw V Logistics Centre offers 240,000 sqm of leasable space.
European office take-up 11 percent above five-year average
According to Savills latest research, take-up in the European office market in H1 2022 reached 4.3 million sqm, 11 percent above the five-year H1 average.
Professional and business services remained the most active sector, with a 21 percent share of the total take-up, in line with H1 2021. When looking at the supply/demand ratio, most European office markets remain undersupplied.
Matthew Fitzgerald, Director, EMEA Cross Border Tenant Advisory at Savills, says: “Given economic headwinds, one could easily paint a negative picture for European office take-up moving forward. However, there is still strong demand for high-quality space in good locations that match with company culture and corporate sustainability targets.”
Marcin Sabowicz, Associate Director, Worldwide Occupier Services Tenant Representation at Savills Poland, says: ”The highest demand is in Warsaw’s CBD and City Center as the vicinity to the metro station is the most important factor in choosing office space for many tenants.”
Despite the volume of European real estate investment declining in the second quarter of 2022, offices traded for €43 billion during H1 2022, in line with the five-year H1 average, according to Savills. The asset class continues to take the largest share of total investment, recording 31 percent in 2022 so far.
Office rents in Prague are increasing, but demand is still rising
Colliers has published its findings on the Prague office market for the second quarter of 2022. According to this survey, the vacancy rate did not change and remained at the same value as in the previous quarter. On the contrary, rents or service fees continue to rise. The volume of net take-up is nevertheless the highest since the end of 2019.
“Occupiers understand that the change in the working environment is necessary, and we are frequently seeing the moves from ageing buildings to new ones. We also believe that occupiers can appreciate the added value of the newly constructed or refurbished projects, despite rising costs,” said Josef Stanko an analyst at the consulting company Colliers.
ROCO – the world’s first interactive roller coaster debuts in Poland
ROCO – the world’s first interactive roller coaster has now been launched in Poland, in Jelenia Góra at the Galeria Nowy Rynek shopping centre.
Daniel Johansson the founder of ROCO, said: “When we came up with the idea of creating an entertainment attraction just designed for shopping centres and public environments, we could never in our wildest imagination foresee that we now two years later have our interactive roller coaster in so many countries in Europe.”