Office Market News

IInvestment market challenges in 2020

2019 was a record-breaking year for the commercial real estate market in Poland in many respects: nearly 150 transactions were recorded (compared to ca. 100 in 2018), the value of which reached EUR 7.7 billion (in 2018: EUR 7.2 billion). 2020 may be even better, as we expect a further increase in liquidity. This is due to the inflow of investment capital with different risk profiles from outside Europe, primarily from the Middle East, the Far East and North America – from core/ core+ (South Korea, China, potentially Japan, Canada, Australia, Israel) to value-add ( Singapore, Philippines, Malaysia, as well as Canada and Israel). New investors, from Central and Eastern Europe, primarily from the Czech Republic, Hungary and Slovakia, are also expected to increase their involvement in Poland.

Echo Investment secures development pipeline for destination projects in Cracow, Poznań and Łódź

Echo Investment has secured three standing and working 1st generation shopping malls belonging to the Tesco Group. Altogether, around 240,000 sqm mixed use area consisting of office, retail and residential space can be developed on plots located in Poznań, Łódź and Cracow.

(Increasingly easier) rules for employing foreigners in Poland

Employment of foreigners in Poland still requires fulfilment of certain formal obligations provided for in various regulations. Although the obligations imposed on employers and third-country nationals may appear to be difficult to overcome at first glance, the list of conditions to be fulfilled is constantly reduced and the procedures related to the legalization of employment are simplified.

GSK expands its office space at Business Garden Poznan

Vastint Poland has signed a lease agreement with the current tenant, GSK Services, in Business Garden Poznan. Due to its dynamic expansion of operations, the company – a subsidiary of an international pharmaceutical group – rented an additional 5,100 m² of office space, comprising three floors. In total, the company’s operations will occupy 6,800 m². Business Garden Poznan is a modern complex that consists of nine A-class office buildings with a total leasable area of 88,000 m2, located on a 6-hectare plot in Poznan, Poland. Characterized by its low buildings, the campus consists of spacious green areas, including a carefully designed garden for the pleasure of employees and residents of the city. Relaxation zones on the premises help visitors create a meditative atmosphere, or allows them to easily engage in outdoor sports activities. Business Garden offers extensive, state-of-the-art infrastructure for cyclists, and a wide range of facilities for tenants, including a canteen, a kindergarten, a medical facility, and a first-class fitness club. Key architectural and technical solutions implemented in the buildings, particularly in the reduction of water use and energy consumption, and in the control of the internal environment, meet or exceed the requirements of the highest level of LEED certification. Source: Vastint

Business Garden Poznan welcomes Miele

Vastint Poland has signed a lease agreement with Miele – a well-known manufacturer of household appliances – for 3,400 m2 of office space at Business Garden Poznan. Miele will open a financial services center in its new office. Business Garden Poznan is a modern complex that consists of nine A-class office buildings with a total leasable area of 88,000 m2, located on a 6-hectare plot in Poznan. Characterized by its low buildings, the campus consists of spacious green areas, including a carefully designed garden for the pleasure of employees and residents of the city. Relaxation zones on the premises help create a meditative atmosphere and allow to easily engage in outdoor sports activities. Business Garden offers extensive, state-of-the-art infrastructure for cyclists, and a wide range of facilities for tenants, including a canteen, a kindergarten, a medical facility, and a first-class fitness club. Key architectural and technical solutions implemented in the buildings – particularly in the reduction of water use and energy consumption, and in the control of the internal environment – meet or exceed the requirements of the highest level of LEED certification. Source: Vastint