Coffee with Craig Show – daily CRE news covering the CEE region, Thursday, April 20, with Winston Norman, Editor and Chief of EuropaProperty.com.
Panattoni building BTO factory for industrial giant
Panattoni is building another factory project for a global industrial giant which will start using the 40,000 sqm factory before the end of 2023. The BTO centre is being built in Western Poland and is to be used for the production of home appliances in an investment of over €80 million.
Marek Dobrzycki, the Managing Director of Panattoni, said: “Production plants have become Panattoni’s speciality over the last few years.”
The factory is to be built to Panattoni’s high sustainability standards and is to be certified under BREEAM for a rating of ‘Excellent’. The developer is to employ the energy and water-saving solutions, is to deliver charging stations for electric vehicles as well as a green relaxation zone with environmentally-friendly furnishings.
Accolade to build new warehouse park near Lublin
The latest investment by Accolade in Poland will be located in Świdnik and provide easy access to the Lublin region. It will offer 54,000 sqm of modern warehouse space. The industrial park will consist of two buildings. The majority of the space was already leased to three companies from the manufacturing and logistics industries.
The park is scheduled to be completed in the fourth quarter of this year.
“The potential of the region and the development of infrastructure in this part of the country have prompted us to make another investment”, said Jarek Wnuk, Managing Director of Accolade in Poland. ”
Warsaw’s office market facing a year of challenges
No new office completions were noted in Warsaw during the first quarter of 2023, with office take-up falling by 40 percent. Key challenges facing office tenants hoping for an economic turnaround, as forecast by real estate advisory firm Savills, include a substantial increase in service charges which are expected to rise by 30-60 percent, depending on the type and class of an office building.
“2023 looks set to be a year of service charge growth driven by high inflation and rising utility costs. The economic downturn is forcing tenants to take a more cautious approach to office leasing,” says Daniel Czarnecki, Head of Office Agency, Landlord Representation, Savills.
“Serviced and coworking offices are likely to be another way of getting through a difficult time or reorganising working models completely. They are increasingly being considered not only by start-ups but also by leading IT or financial companies,” says Jarosław Pilch, Head of Office Agency, Tenant Representation, Savills.
Construction starts on third stage of Soho by Yareal
The third stage of the SOHO by Yareal project in Warsaw’s Kamionek district will include two residential buildings containing 14 apartments and 132 higher-standard flats.
SPLENDOR, a four-story apartment building, will be built on Minska Street and will include 14 exclusive apartments. KARDAN, the second of the two residential buildings, is a modern, U-shaped apartment complex and will include 132 flats. At present, over 30 percent of these have already found buyers.
“SOHO by Yareal was designed with the 15-Minute City urban planning concept in mind, with residents and guests being able to fulfil most of their needs on the spot,” explains Jacek Zengteler, Yareal CEO.
Upon completion, SOHO by Yareal will become a new welcoming home for 900 families.