Yareal Polska has completed the commercialisation of Wspólna 47/49 boutique office building. In 2022, the company leased out more than 4,000 sqm of available office space, with Enervigo, “Future For Ukraine” Foundation, and a representative of the European institutions' sector added to the building’s tenant roster. This means that the building, located in the very heart of Warsaw, at the junction of Wspólna and Marszałkowska streets, is now 100% leased.
Real estate advisory firm Savills has strengthened its management board in Poland with the appointment of three new members acting as business line directors.
United Benefits Holding is entering the Polish real estate market with the acquisition of the 16,000 sqm Silver Forum office building in Wrocław. The company plans to optimize the property with a focus on ESG standards and mobility, thus leveraging the property’s value-add potential. The price of the asset has not been disclosed.
One of the next buildings of Olivia Center is to serve as an office, and the other as a residential one for long-term rental (so-called PRS). The investor has just received a building permit for both buildings.
2022 was a good, strong year in Poland's office market. After a downturn, it was time for a long-awaited boom in demand. Companies have adapted to new working conditions. Due to the loosening of restrictions related to the Covid-19 pandemic, they have launched a campaign to encourage people to return to their offices. On the other hand, we will see lower development activity in both Warsaw and regional office markets in the coming quarters, which should last until 2024. AXI IMMO summarised 2022 on the Polish office market.
CUBE Office Park in Gdansk is currently going through a green transformation process. The refurbishment of the reception lobby in building A, which was completed last year, is just a glimpse of what tenants may expect in the near future. CUBE Office Park is managed by TFG Asset Management while real estate advisory firm Savills is the sole letting agent for office space in the complex.
In 2022, the Warsaw office market recorded one of the highest levels of demand in history at over 860,000 sqm, with its structure including a preponderance of new leases and relocations, as well as expansions over renegotiations. According to the consulting firm Savills, despite the fact that nominal rents are stable and rising mainly due to indexation, service charges, which represent an increasing proportion of the total rental costs.
Investors are looking for projects that can ensure a good profit. Will we soon see a flood of investments based on changing the function of existing real estate on developed land?
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