Coffee with Craig Show – daily CRE news covering the CEE region, with Publisher Craig Smith and Winston Norman, Editor and Chief of EuropaProperty.com.
RICS launches new resource to support ESG valuation across Europe
To aid the further implementation of ESG into valuation, RICS has published a data list which lists assets and indicators that can be applied to valuation work. RICS has also launched a thought leadership paper on the impact of ESG on the valuation of Europe’s real estate.
The paper, titled The Future of Real Estate Valuations: The Impact of ESG, noted the increased premiums ESG-focused properties provide to investors while valuers pay increasing attention to environmental factors. However, there are several significant gaps in ESG integration, and the publication calls for incorporating a consistently holistic approach to ESG, which, it is hoped, the data list will support.
Gina Ding, RICS Senior Public Affairs Officer for Europe, and author of the data list, said: “The twelve core indicators in the ESG & Valuation data list provide valuers and financial clients with a consistent set of data points which can be taken up in valuation reports.”
PVT and Flexiparks form long-term partnership for sustainable energy
The multi-let industrial park developer Flexiparks and the photovoltaic experts from PVT Austria are combining their resources to convert available roof surfaces into sustainable energy sources. The cooperation initiative will take place in the summer of 2024 at “Flexiparks Vienna North I”, with further joint projects in the pipeline.
“Our existing green roof regulates the climate in the individual units, promotes biodiversity in the park, and enhances the energy efficiency of the halls. With the installation of a photovoltaic system, we are now taking another important step forward,” explains Sebastian Scheufele (co-founder of Flexiparks.”
Johannes Rindhauser, owner of PVT International, also sees great potential in collaborating with Flexiparks: “We are very pleased to have the opportunity to demonstrate our expertise and to cooperate with Flexiparks in the long term. Collaboration on an equal footing always remains a win-win situation.”
P3 Logistic Parks concludes 2023 with 170,000 sqm of lease transactions in Romania
P3 Logistic Parks concluded 2023 in Romania with transactions totalling more than 170,000 sqm in P3 Bucharest A1 industrial park – P3’s highest activity volume recorded in recent years, in the Romanian market.
Approximately 40 percent of the leased space is occupied by large retailers and FMCG companies, 40 percent by logistics and distribution companies, while the remaining 20 percent is rented by companies in sectors including manufacturing, IT, and pharma.
Cristina Pop, Head of Asset Management P3 Romania, highlighted the company’s performance in the current context of the industrial sector. She said: “The plan for 2024 is to focus on maximizing our existing portfolio, advancing our ESG strategy, and continuing to provide excellent customer service.”
Office take-up hits a record high in Poland’s regional markets
According to “Office Occupier – Office Market in Regions”, a report published by real estate advisory firm Newmark Polska, total office take-up in 2023 in the largest Polish regional cities surpassed 741,300 sqm – an increase of almost 19 percent year-on-year and 7 percent from the pre-pandemic 2019 peak.
“Office availability in existing buildings remains on an upward trajectory and amounted to nearly 1.2 million sqm at the end of the fourth quarter. Additionally, regional markets also offered a substantial amount of office space available for sublease,” comments Agnieszka Giermakowska, Research & Advisory Director, ESG Lead, Newmark Polska.
According to Newmark’s Joanna Bartoszewicz, Senior Advisor, Office Tenant Representation, Newmark Polska, “Faced with significant levels of office space available in existing buildings and widespread office optimization, developers remain cautious regarding launching new projects, especially those without pre-lets.”
