Maturing retail market bringing popular brands to increasingly

Transcription

Volume 9 No 6
June 2015
Maturing retail market
bringing popular
brands to increasingly
smaller cities
Euro zone: EUR 2.00
Poland: PLN 7.00 (incl. Tax)
Czech Republic: CZK 45.00
Hungary: HUF 502.00
Ukraine: UAH 13.00
Slovakia: EUR 2.00
Russia: USD 2.00
United Kingdom: GBP 1.50
Romania: RON 6.50
USA: USD 2.00
R e ta i l • O f f i c e • I n d u s t r i a l & L o g i s t i c s • I n v e s t m e n t • M i x e d U s e
Ghelamco tops out
flagship Warsaw Spire
office project
see page 4
and
Residential
Region’s industrial sector
developing rapidly
Winners celebrate at
the 10th annual SEE
Real Estate Awards
see page 16
see page 20
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LATEST NEWS
LATEST NEWS
Ghelamco tops out flagship Warsaw Spire office project
adding that there was still a lot of work to do until
SRE lays foundation stone for Astoria
Premium Offices building
the project’s completion in 12 months.
”Therefore I’m very glad that we get the chance
to create it at such an exceptional location and
Hanna Gronkiewicz-Waltz, the Mayor of Warsaw,
thereby contribute to the development of the city
recognized the developer’s extraordinary focus
centre of Warsaw. At the same time, we hope it will
on the surrounding area. While congratulating
be a successful start for our business in Poland,
Ghelamco on its unique project, she wished it a lot
which we hope to expand in the future. In fact, we
of success and new investments, and assured the
are sure that Poland will become one of our core
company’s representatives that “I love Warsaw as
markets in the future.”
much as you do.”
“Astoria is a state-of-the-art, modern looking
”From the very start we could see the vast
and sustainable office building. It’s façade
potential of this place, located next to Rondo
metamorphoses seamlessly from being almost
Daszynskiego, one of the Warsaw road system’s
fully glazed on the side of the Palace of Culture
crucial points. The design process was preceded
Paul Gheysens, President of Ghelamco Group and Hanna Gronkiewicz-Waltz, the Mayor of Warsaw
The final (49th) level of the tower building, one of
In his opening speech, Paul Gheysens, President of
the three elements of the Warsaw Spire complex,
Ghelamco Group, emphasized the project’s impact
has been reached. The Class A building now boasts
on the office property market, the whole city
an impressive height of 220 metres and is now
and its residents. “Warsaw Spire has a significant
only 12 months away from becoming Poland’s
influence on the capital’s urban fabric. Thanks to
largest completed office investment.
it, a zone that had been inaccessible for years was
veritably brought back to life through a successful
The topping out ceremony was attended by 450
combination of commercial and public functions.
guests, including Her Excellency, the Ambassador
The place has become user-friendly and open to
of Belgium in Poland – Colette Taquet, the Mayor
the local community. Warsaw Spire is Ghelamco’s
of Warsaw – Hanna Gronkiewicz-Waltz, President
flagship investment and the key one in Warsaw. It
of Ghelamco Group – Paul Gheysens, Managing
is also one of the most challenging construction
Director CEE Ghelamco – Jeroen van der Toolen,
projects that are now underway in Europe.
the developer’s representatives, Warsaw Spire’s
The investment perfectly reflects Ghelamco’s
tenants and Ghelamco Poland’s business partners.
philosophy: We create the future today,” he said,
and Science into the inner-city building with
by extensive research and analyses. We wanted
its characteristic windows in the eastern part.
to meet the tenants’ expectations, offering more
The project is planned to be completed in the first six months of 2016
than just perfect location and state-of-the-art
technology. Addressing the market demand, we
Strabag Real Estate (SRE) has celebrated the
Markart as well as Jaroslaw Pelc, Manager of the
developed a modern mixed-use office complex
cornerstone laying ceremony to commemorate
Warsaw Branch and the East of Poland District of
and a new urban square,” said Jeroen van der
the commencement of construction of the Astoria
General Contractor Strabag. The whole ceremony
Toolen, Managing Director CEE at Ghelamco.
Premium Offices building. It is the first project of
was held in the representative part of the building
SRE in Poland.
on the ground floor at the rotunda of the office
building.
Warsaw Spire has a total office area of 100,000
The foundation act was signed by the Vice
building. Two smaller, lower 15-level buildings
President of the capital city of Warsaw, Jaroslaw
“With Astoria we took the first step into the Polish
provide 20,000 sqm each. The occupancy rate has
Jozwiak, Managing Director of SRE, Thomas
market and established a local project team,”
already gone beyond 50 percent, a year before the
Hohwieler, and SRE Business Unit Manager Michael
said Thomas Hohwieler, SRE’s Managing Director.
continuation of the buildings situated around
Warsaw Uprising Square,” added Michael Markart,
the developer responsible for the project at SRE.
The project is planned to be completed in the first
investment finish date.
IMPACT Day unites Prologis CEE employees
for community service
Slovakia, Hungary and Romania were involved in
Health Centre for Children and Adolescents in
many projects undertaken by local charitable and
Budapest.
(EPISO 3), an opportunity fund advised by pan-
further building of 5,867 sqm is under construction
non-profit organisations. The activities ranged
European real estate investment manager Tristan
and is fully pre-let.
from gardening to refurbishing a playground and
“Community
renovating houses.
citizenship are central to the Prologis spirit and
Capital Partners, and Avestus Real Estate (Avestus)
to acquire the Enterprise Park office complex in
James Chapman, Partner and head of CE Capital
Krakow.
Markets, Cushman & Wakefield, said, “This is one
involvement
and
corporate
culture. The reward for helping those in need is the
The Polish employees helped the SOS Children’s
satisfaction our employees get from being able to
Village in Siedlce, which currently accommodates
provide this kind of valuable support,” said Ben
Enterprise Park is a leading Class A office
further evidence of the fundamental growth in
IMPACT Day Poland
71 children. Teams from the Czech Republic and
Bannatyne, managing director, Prologis Central
of the largest office transactions in 2015 and is
development that will comprise over 50,000 sqm
institutional investment activity in Polish regional
Prologis’ employees from CEE have recently
Slovakia cleaned the garden and tidied and
and Eastern Europe. “IMPACT Day has a lasting and
Cushman & Wakefield has announced that its
gross leasable area upon final completion. The
cities. The strong underlying occupational demand
positive influence on teamwork at Prologis and
Polish Capital Markets team has brokered an
participated in IMPACT Day, the company’s third
renovated the premises at the Kangaroo Center
three existing buildings of 29,462 sqm are long let
and increased liquidity have turned cities such as
global annual day of community service. Prologis
Laskova. Employees from Hungary and Romania
connects employees with the company’s social
agreement for a joint venture between European
to blue-chip tenants such as Cisco and Delphi. A
Krakow into highly desirable investment markets.”
employees from Poland, the Czech Republic,
united to help the Rehabilitation and Mental
mission.”
Property Investors Special Opportunities 3 LP
4
frontage of Szpitalna street and provides a
six months of 2016.
sqm, with 60,000 sqm in the 49-storey tower
Tristan’s EPISO3 fund acquires office park in
prime Kraków location
Enterprise Park
The building thereby complements the existing
EuropaProperty CEE COMMERCIAL REAL ESTATE NEWS
June 2015
June 2015
CEE COMMERCIAL REAL ESTATE NEWS EuropaProperty
5
RETAIL
RETAIL
Opening shopping centre potential
choosing the best tenant-mix, or introducing new
retain the customers, and consequently maintain
services and e-commerce technologies.
the revenue at an adequate level,” said Renata
Colliers summarizes the first quarter of 2015
in the retail market in Poland
Kusznierska, Head of Retail Agency CEE at DTZ.
According to DTZ, there are 389 shopping centres
Renata Kusznierska, Head of Retail Agency CEE at DTZ
with a total area of 9.38 million sqm in the Polish
The most important factor for the potential of
modern retail space market. Out of 212 shopping
every shopping centre is its location, which
centres opened in the years 1995-2005 (and
translates into catchment area.
“Location is a crucial aspect in considering any
In order to compete with new projects on the
turn, 60 new shopping centres will be delivered to
actions to make a property more attractive. It
market and maintain satisfactory footfall rates,
the market, with a total space of 900,000 sqm.
indicates whether the site allows for an expansion
owners and managers of older shopping centres
or reconstruction, or if only internal modifications
often decide to expand or refurbish their property.
“Due to a significant growth of supply of modern
are possible. Not always can the owner increase
However, not every centre—even if a decade
retail space, owners of existing schemes need
retail space by expanding their property. At times,
old—requires such costly and time-consuming
to analyse the potential of their property and
the market position of a shopping centre can be
investments. Sometimes, to strengthen the market
how it compares to the competition, as well as
improved by introducing new tenants, additional
position of a scheme, it is enough to implement
determine the lifecycle stage of their investment.
services, and modern technologies, as well as
minor improvements, adjust the range of products
Analysing this data early and finding the best
broadening the range of non-retail services on
and services according to the latest trends by
solution for a given shopping centre might help
offer,” added Renata Kusznierska.
Mega Mall in Bucharest opens its doors
The average vacancy rate, noted at the
Esprit
Galeria
end of December 2014 in the largest Polish
Krakowska in Krakow, the first Swedish fitness
Bodywear
lingerie
store
in
agglomerations reached 2.5 percent, while in case
club Fitness24Seven in Galeria Dębiec in Poznan
of cities with a population of 200,000-400,000 it
and Spanish chain Decimas from fashion sector
was 3.5 percent.
in Magnolia Park shopping centre in Wroclaw.
thus 10 or more years old), only 69 have been
expanded. Over the next two years (2015-2016), in
brands debuted in Poland, such as: the first
Ethos in Warsaw
The other interesting events of the past quarter
At the end of Q1 2015, around 677,000 sqm of new
include the re-opening of the Guess store in Dom
retail space was under construction. More than 70
In the first quarter of 2015 shopping centres
Mody Klif in Warsaw. As a result of the expansion
percent of which is planned to be delivered by the
with a total area of 115,300 sqm were delivered
of previously leased space, Reserved has opened
end of this year. We are observing a strong revival
to the Polish market. The total stock of modern
its largest store in Poland in Wola Park shopping
in the largest agglomerations, where more than
retail space reached about 10,5 million sqm.
centre in Warsaw, while in Katowice, in Silesia City
half of the space, currently under construction,
The largest projects under construction include
Center, the chain opened its first store dedicated
is located. However, developers’ interest in small
Posnania in Poznan (100,000 sqm), Zielone Arkady
to only one clothing line – Young Fashion Lab
cities (fewer than 100,000 inhabitants) is not
in Bydgoszcz (51,000 sqm) and Sukcesja in Lodz
(YFL).
weakening, accounting for 30 percent of retail
(46,300 sqm) - according to “Retail Market Q1 2015”
report by Colliers International.
space under construction.
Colliers have observed a growing number of
retailers choosing to sell their products at lower
Colliers are seeing an increase in investor interest
During the first three months of the year one large
prices in outlet stores. This trend also applies
in schemes located on the main high streets of
retail project was completed – Tarasy Zamkowe
to luxury brands e.g. Michael Kors shop in the
cities. At the beginning of the year the demolition
in Lublin (38,000 sqm). New, smaller schemes
Fashion House Outlet Centre in Piaseczno and the
of the Sezam department store began, to be
include, among others, Galeria Sanok (7,000 sqm)
Pako Lorente outlet store in Galeria Sandecja in
replaced with an office building with retail and
Nowy Sacz
services on the ground floor. In addition, also in
residents can enjoy a new Cinema multiplex
to enhance visitors’ shopping and entertainment
and Era Park Wielun (6,000 sqm). The extension
of 14 digital cinema theatres, with the first 4Dx
experience. The interior is flooded with natural
of existing projects played a significant role in a
auditorium in the country, a World Class fitness
light from the over 1,250 sqm domes on the
new supply, constituting 51 percent of delivered
The popularity of ‘omnichannel commerce’ is
formerly Holland Park, is modernized. The building
centre with a Semi-Olympic pool and an over
roof and the two 1,500 sqm skylights. Also, the
space. The most important is the completion of
gradually increasing which is a response to the
will accommodate luxury brands. Meanwhile,
10,000 sqm show windows, many of which are
the next phase of Magnolia Park in Wroclaw as well
development of technology and communication
in Poznan, work on the Polwiejska 2 project is
over 14 meters tall, are unique in the country. The
as opening of a new part of Atrium Copernicus in
channels. An example of this trend is Rossmann’
coming to the end. In January, McDonald’s and
s online drugstore, which launched full-scale
LPP took over their units in order to carry out the
operations enabling virtual shopping throughout
arrangement process.
10,000 sqm food court.
Mega Mall Bucharest
With a 230,000 sqm construction surface, Mega
corridors are separated by large voids, offering a
Torun. Also in March, the enlarged CH Ogrody
Mega Mall, owned by the South-African investment
Mall is the largest shopping centre in Romania.
generous view of all the floors. The two entrances
shopping centre in Elblag was opened.
fund New Europe Property Investments and
The leasable area covers 72,000 sqm, of which 98
and the 6 floor parking lot connected to all three
Real4You, has opened its doors. Situated near the
percent has already been occupied. Mega Mall is a
access points, ensure a fluid traffic. This ambitious
National Arena, the shopping centre is offering a
4 floor building with a 3,000 capacity parking lots
project, focused on the consumer’s experience,
new shopping and entertainment experience, with
divided on 6 levels, 1,000 of which are situated on
is completed by a whole floor dedicated to
new concepts and exclusive collections, unique
the roof.
entertainment and leisure, having the surface of
two football courts. All these, together with the
architecture and design, multiple entertainment
Warsaw, the ground floor of the Ethos project -
the country. The online store of the well-known
In the first quarter of this year, several foreign
Swedish brand H&M also premiered in Poland.
Galeria Sudecka re-opens after extension
”Mega Mall is a high-end mall, setting a
wide variety of brands and shops, will make Mega
new standard in the local retail market as an
Mall locals’ favourite shopping and entertainment
Galeria Sudecka, formerly the Echo shopping
The €165 million new mall features over 220
architectural landmark for the industry. Created
destination,” said Tiberiu Smaranda, Executive
centre, which had been operating in Jelenia
commercial spaces and shops, which cover a
to become a genuine lifestyle centre, Mega Mall
Manager NEPI.
Gora for 13 years, has now re-opened after
full array of products and services, along with a
includes multiple impressive design elements,
refurbishment and extension work. Marcin
new Carrefour hypermarket concept. Bucharest
unique in Romania and not only, that are meant
Materny, the director of Echo Investment’s
options and interactive technologies.
shopping centre department, Marcin Zawila, the
mayor of Jelenia Gora and Ewelina Kawenska, the
director of Galeria Sudecka, led the ribbon cutting
ceremony. The mall, comprising 45,000 sqm of
retail space, is now fully leased.
Galeria Sudecka
6
June 2015
June 2015
7
RETAIL
RETAIL
Popular brands more accesible to residents of
increasingly smaller cities
Additional tendency is the increasing popularity of
for the opportunity to open up a store. On the
shopping centre yields at ca. 5.5 percent and
pop-up stores, appearing temporarily in different
other hand, rents in prime assets located in other
expect some downward trend”.
locations.
cities seem to be holding.
In the majority of local markets, rental stability
Agnieszka
Retail
the acquisition of Sarni Stok shopping centre
prevails in the case of most assets. An upward
Investment CEE, JLL, added: “The total volume of
in Bielsko-Biala by Union Investment (price
pressure on prime rents in Warsaw’s best
retail investment transactions concluded in Poland
confidential) and the purchase of Solaris in Opole
performing shopping centres is observed. Prime
in Q1 2015 is estimated at approximately €130
for ca. €52 million by Rockcastle.
rents have seen an increase over the last couple
million. Given the number of products currently
of months and can be as much as €110 per sqm/
being marketed and expected to come to market
month. This is due to the unabated demand for
in the coming weeks, we believe that overall 2015
space in a number of the best assets, another
volume will be closer to 2013 level, when ca. €1.39
effect of which is the necessity to join waiting lists
billion was transacted. We estimate current prime
Most notable transactions in Q1 2015 were
Kolat,
National
Director,
Romanian IT&C retailer Flanco increases sales by a fifth
Increased competition in the retail market also affects the strategies of owners and property managers
At the end of Q1 2015 modern retail stock in Poland
measuring 6,000 sqm, started operations in Q1:
Anna Wysocka, Head of Retail Agency, JLL, said:
totalled 12.47 million sqm and was accounted for
Galeria Glowno and Era Park Wielun.
“The highest demand still involves prime projects
by the following retail formats: 8.89 million sqm, in
in particular markets, while secondary locations
by only 13 percent. Flanco’s consumer credit offer
Sales of TV sets and small appliances increased
in the first four months of the year a 20 percent
supported the company’s growth, said Dragos
by almost a third. Flanco will open its 90th, some
increase in sales compared to the same period
Sirbu, CEO Flanco Retail. Instalments accounted
1,300 sqm in the Mega Mall shopping centre in
last year. Its business reached €52.8 million.
for a quarter of its total sales. The online sales also
Bucharest.
Meanwhile, the market increased in this period
doubled compared to the same period last year.
Abra Meble opens in marcredo Center Kutno
shopping centres, 3.39 million sqm in retail parks
The vacancy rate in Poland’s largest cities ranges
and assets can face more challenges. Retail parks
and warehouses, and 0.19 million sqm in outlet
from low to moderate. The highest proportion
are gradually gaining recognition from both
centres. Due to the number of openings in Q1,
of empty units is typically found in the most
domestic and foreign retailers, however, apart
Center Kutno this coming June. The developer
of satisfied customers. Abra’s store in marcredo
shopping centre stock grew by additional 94,000
competitive markets such as Poznań and Wrocław,
from a number of brands such as KiK and Pepco,
of the shopping centre was represented in this
Center Kutno will be its ninth in the Lodzkie
where vacant units account for 4 percent and
this pool usually does not include fashion. This
transaction by Cushman & Wakefield.
voivodship. Abra intends to step up its expansion
3.2 percent of existing GLA respectively. With a
may change in the near future though with retail
sqm.
and to increase its total number of units in Poland
Interestingly, only one completely new shopping
1.4 percent vacancy, Warsaw continues to be at
parks being increasingly perceived as better suited
With 95 stores in 86 towns and cities across the
centre opened in this period, Tarasy Zamkowe in
the opposite end of the spectrum. In terms of
to smaller towns, where shopping centres could
country, Abra Meble is one of the largest furniture
Lublin, which delivered nearly 38,000 sqm of new
shopping centre density, with an average 230
prove to be unsustainable.”
space. The remaining 56,000 sqm comprised of
marcredo Center Kutno
sqm/1,000 residents, Poland remains above the
centres which have undergone extensions. These
European average of 198 sqm, but still below
Increased competition in the retail market also
included: Ogrody in Elblag (an additional 22,000
Western Europe where density averages 260 sqm.
affects the strategies of owners and property
sqm), Magnolia Park in Wroclaw (17,000 sqm),
managers.
Atrium Copernicus in Toruń (15,000 sqm) and
Retailer demand stemming from domestic brands
Rondo in Bydgoszcz (2,000 sqm).
remains relatively buoyant, especially in terms of
Justyna Williams, Director of Retail Operations,
large market players, such as LPP Group or CCC,
JLL Property Management, explained: “Some
All of the above-mentioned openings have had
who continue to cautiously, yet steadily secure
centres are being repositioned in an attempt to
varying impacts on their respective local retail
new locations across the country. The most
future-proof assets against more competitive
markets. In Lublin, the opening of Tarasy Zamkowe
popular international brands although still very
market conditions. Concepts introduced to
has redefined the city’s existing retail geography.
selective, continue to expand into increasingly
shopping centres include a wide range of non-
Wroclaw’s Magnolia Park has crossed the 100,000
smaller markets. This strategy is often perceived as
retail activities, such as co-working space, public
sqm GLA threshold, Elblag’s Ogrody centre has
an alternative to adding new stores to a larger city
libraries, community centres, art galleries, theatres,
significantly increased its retail footprint and
where brands already have a significant presence.
e-commerce pick-up points and relaxation
gained
Atrium
As a result, popular fashion brands, such as H&M,
zones, to name but a few. Importantly, some of
Copernicus is now the largest centre in Torun. In
have become even more available to the Polish
these concepts not only disguise vacancies, but
addition to shopping centres, other retail formats
shopper.
also, to some extent, serve as additional footfall
above-local
capture
power.
are also being developed: two retail parks, both
8
Romanian IT&C retailer Flanco Retail recorded
generators.”
June 2015
Abra is to open its 800 sqm furniture store
with a wide selection of products in marcredo
to 100.
retailers in Poland offering home furniture to
Opened in spring 2014, marcredo Center is the
millions of customers for more than 25 years.
first modern shopping centre in Kutno. Its anchor
Abra was founded in Krakow in 1990 and is now
tenants include H&M, Reserved, Cropp, House,
a leading furniture brand in Poland. It opens new
Mohito, Big Star, Smyk and Empik.
stores every year and has a growing number
Elka shopping mall to open in Toliatti, Russia
The total area of Elka shopping centre will be
Nadezhda Tsvetkova, Associate Director of Retail
the region, for the tenants of the shopping gallery
50,000 sqm. The shopping mall will occupy 3
Department CBRE in Russia said: “Our company
this will be a great opportunity for them to open
ground floors and will include food hypermarket,
has been successfully working with the developer
their first shop in the city with the population of
multiplex cinema, family entertainment park,
of this shopping mall. This new shopping centre
over 700,000 people.
fashion and shoes boutiques, multiple cafes and
will become a landmark not only for Toliatti but
restaurants.
for the region as well. Its unique location as well as
The developer of this shopping mall, Lada-Dom,
the right concept will attract major international
a financial and development corporation, is the
The shopping mall is located in the Avtozavodskiy
and federal retailers. We have already noticed high
largest residential developer in Toliatti.
district of Toliatt, where 60 percent of the citizens
interest for this project from anchor tenants and
live. The grand opening of this shopping mall is
shopping gallery tenants. For anchor tenants this
planned for Q4 2017.
shopping mall will help to in force their position in
June 2015
9
INDUSTRIAL & LOGISTICS FOCUS
Supporting Partner:
Poland’s industrial market has record-breaking
start to 2015
5th Annual
Poland, where tenants leased or renewed a total
followed by the Warsaw Suburbs (28,000 sqm) and
of 141,000 sqm. Poznań and Upper Silesia were
Tri-City (27,000 sqm).
next with gross leased volumes of 92,000 sqm and
86,000 sqm respectively.
Construction activity remains buoyant, with nearly
593,000 sqm currently at the development stage.
Jan Jakub Zombirt, Senior Research Analyst, JLL,
The regions with the largest amounts of space
commented: “Net demand – excluding lease
now under construction are Wroclaw (101,000
renewals - in the first quarter stood at 380,000 sqm.
sqm), Upper Silesia (92,000 sqm) and Poznan
Interestingly, a number of large lease transactions
(63,000 sqm). Today, construction activity is found
in Q1 were concluded in regions which are not
in almost every region.
CEE INVESTMENT
&
G R E E N
B U I L D I N G S
AWARDS
October 29th 2015, InterContinental Hotel, Warsaw, Poland
considered typical industrial locations, including,
Tomasz Olszewski, Head of CEE Industrial at JLL
i.a., Szczecin, Torun or Podkarpacie. New leases
“We have observed a further increase in the share
totalling 107,000 sqm were signed outside of the
of speculative projects. At the end of Q1, projects
five major markets, translating into a 28 percent
which were underway but did not have a secured
share of total net take-up. This can be viewed as
tenant totalled 215,000 sqm, which translates
a very good result as the share of these less well-
into 36 percent of the space currently under
known regions of Poland’s total stock is only 8
construction,” Tomasz Olszewski added.
percent.”
Interestingly, 50,000 sqm of the 70,000 sqm of new
According to warehousefinder.pl, at the end of
JLL has released a summary on Q1 2015 of Poland’s
leases in Central Poland, were signed in Piotrkow
Q1, the vacancy rate stood at 7.3 percent, which
industrial market as well as an outlook on the
Trybunalski, the highest volume in years resulting
was down from 9.8 percent in Q4 2014. Of the five
sector’s key trends for the coming months.
in a substantial fall of available space in the area.
major regions, the largest share of immediately
Tomasz Olszewski, Head of Industrial CEE, JLL, said:
The largest lease transaction signed in Q1 involved
(13.9 percent in the Inner City and 10.3 percent
“The industrial market maintained its momentum
Jysk, which leased 40,000 sqm in Piotrkow’s
in Warsaw Suburbs). The sharpest decrease in
in Q1, with gross demand for warehouse, logistics
Logistic City.
vacancy rate was seen in Central Poland, where,
available space was found in both Warsaw zones
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on the back of a few large deals in the Piotrkow
and production space reaching nearly 585,000
sqm. This result was the busiest ever beginning to
At the end of Q1 2015, total modern stock in Poland
Trybunalski area, the region’s rate dropped from
a year. Moreover, total modern warehouse stock
stood at 9,02 million sqm. In terms of market share,
15.8 percent in the previous quarter to 6.1 percent.
hit the 9 million sqm threshold. Construction
more than a half of the existing stock is today in
A slight fall in headline rents was seen in both the
activity remains buoyant and nearly 593,000 sqm
the hands of the four largest market players and
Upper Silesia and Poznań markets, where they
of space is currently at the development stage
their JV partners (Prologis, SEGRO, Logicor and
now range from €2.9 to €3.6 sqm/month and
across Poland.”
Goodman).
€2.8 to €3.5 sqm/month respectively. Rents in the
Partners for 2014:
International
Public Relations
Business Contracts
remaining regions remained stable throughout
Gross demand for warehouse, logistics and
New supply completed during the quarter was
production properties hit nearly 585,000 sqm in
298,000 sqm. The lion’s share of the new space
Q1. Occupier activity in Q1 was highest in Central
was found in the Poznan market (189,000 sqm),
Czech developer invests €15 million in
logistics park in Romania
Czech developer CTP will invest up to €15 million
Romania, will be called CTPark Arad and covers
this year in the soon-to-be-acquired logistics park
93,000 sqm, 43,000 sqm of which are leasable.
Q1.
available from 1,000 sqm, with the possibility to
expand. The tenants in the park include Gebruder
Weiss, Schenker and Gefco.
Cefin Arad, which is in liquidation.
The investment plan includes the acquisition
The logistics park, located near Arad, in western
10
of new plots in the area. CTPark will offer units
June 2015
CEFIN Logistics Park Arad
For further information contact:
Craig Smith / +48 604 144 769 / [email protected]
Anna Kaliszewska / +48 601 382 667 / [email protected]
Distribution channels continue to shift from west
to east into CEE
further the shift in Mediterranean trade servicing
Europe. Over the same period, the traditional
North sea ports – Le Havre, Antwerp, Zebrugge
and Rotterdam have seen TEU volumes remain
stagnant or decline over the same period. In the
UK, London has been the biggest growth port,
INVESTING
IN DENSITY
see just how quickly trade patterns can change,
reinforcing our thinking. We’re pleased to say we
have been at the forefront of many of these key
changes across EMEA. In the UK, for example,
Damian Harrington, Colliers International
Change
in trade, technology, infrastructure
and spoke model, significantly impacting the
and operating models are re-shaping the
logistics landscape and our towns and cities in
EMEA logistics landscape according to Colliers
future.”
Colliers International’s review of Europe’s main
There is growing evidence that Europe’s logistics
ports shows there have been significant changes
landscape is evolving as predicted in Colliers
in trade since 2010, in terms of the volume of
International’s Industrial and Logistics EMEA
TEU containers handled. Ports servicing Northern
report series. Distribution channels continue to
Poland and Germany have been at the top of the
shift from west to east into CEE, supported by
pile, which is helping drive logistics demand across
improving infrastructure, trade growth, market
northern Germany into Poland and the core CEE
demand and increasing supply chain efficiencies.
markets. Gdansk (Tricity) has seen trade volumes
This is coupled with an increase in manufacturing
increase by 133 percent since 2010, putting it on a
running north to south, structurally altering the
par with Marseille in France.
European logistics landscape.
This growth story is second only to the best
Harrington,
Regional
Director
behalf of DP World, which is one of the leading
transport hubs in Europe as opposed to the UK.
The world is urbanising rapidly. Creative solutions are required to
best utilise technology and infrastructure in creating sustainable
environments and attracting investment.
22-23 JUNE 2015
LONDON | UK
This year’s Real Estate Trends Conference will show how investing
in density can provide opportunities for your business and improve
the lives of the people who live and work there.
Join us for a conference and dinner to CONNECT, LEARN AND SHARE
A major advantage of this facility is the very highlevel technical capability and infrastructure in
International latest research paper.
Damian
we are advisors on the London Gateway Port on
TRENDS
CONFERENCE
CONNECT. LEARN. SHARE.
have seen activity decline.
Colliers International EMEA, said “It’s interesting to
REAL
ESTATE
C O N C E N T R AT E O R M I S S O U T
whilst Felixstowe, Southampton and Liverpool
Tim Davies, Head of Industrial and Logistics for
place, including genuine multi-modal capacity.
This will be the future for large, modern hub
Hear from our great line-up of thought leaders
Meet the right people
Join 250 real estate professionals
from across Europe representing
the entire spectrum of real estate
disciplines
facilities in Europe going forward, as our research
will demonstrate.”
“Just as the factors which influence key distribution
centre hub locations is changing, we are seeing
Stay informed
an urban evolution in terms of the demand for
modern industrial space. This is being driven by
e-commerce, new forms of urban transportation
Rohan Silva
Sir David Higgins
and technology which are influencing our
Co-founder
Second Home
Chairman
High Speed Two (HS2)
business-to-business and business-to-consumer
driven clients. This is one of the most dynamic
Former UK
Government
Technology Advisor
Dame Judith
Mayhew Jonas
Senior Advisor
Tishman Speyer
Thomas Sevcik
Co-founder
arthesia
of
performer, Piraeus port, Athens which has seen
Research for Colliers International, said: “Our
trade increase by an impressive 276 percent
latest infographics illustrate how the European
putting it on par with Felixstowe, the primary UK
logistics landscape has changed over a short
port. The growth in trade in Greece, Turkey and
period of time, changes we predicted ever since
also in Constanta, Romania, reinforce the shift in
we started our report series on the ‘Future of the
trade via the Mediterranean up through south
European Logistics Market’. The confluence of
eastern Europe, which is running in tandem with
shifting global trade routes, new infrastructure
a significant shift in manufacturing growth in
in Europe, the rapid emergence of e-commerce,
south east Europe. Low labour and operational
growing CEE market demand and improvements
costs, highly skilled workforce and increasing pan-
Dr. Chris Luebkeman Christopher Choa
Ellen Brunsberg
Greg Clark
in supply chain efficiencies all have their part to
European - and global - connectivity, is driving this
play in this evolution. Things don’t stop here – the
growth.
Fellow
Principal
Director for Global Foresight AECOM
+ Research + Innovation
Arup
President and
Chief Executive
GE Capital Real
Estate Europe
Senior Fellow
ULI Europe
emergence, and need, for multi-modal freight
capacity and energy efficient transportation and
The other main growth ports since 2010 have been
supply chains will continue to transform the hub
Marseille, Genoa and Algecira, demonstrating
and exciting sectors to be engaged in. By working
on innovative solutions with our clients, we’re re-
Former Leader of the
City of London
• Identify cities of opportunity
• Keep on top of key trends
• Learn about key challenges
and best practices for cities of
tomorrow
• Gain a full understanding of density
and the opportunities it brings
inventing modern retail,” said Mr Davies.
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Sponsor the event and showcase your
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europetrends.uli.org
12
June 2015
June 2015
13
P3 increases FM Logistic’s footprint at Poland’s
P3 Piotrkow Park
Development Director, said: “This is one of the
have been present since 1995. We operate out of
first lease renewals for the new parks that we
nine plants in Poland and our decision to occupy
acquired earlier this year and involves a long-
more space at P3 Piotrków reflects our increased
standing customer in Poland, with whom we have
requirements to serve the southern part of the
been working closely on a tailor-made project
country on behalf of our clients. We regard P3 as
P3 has signed a lease renewal and a new lease
to provide 10,000 sqm of chilled space at P3
an important partner in our long-term growth
for a total of 37,000 sqm of space, the equivalent
Mszczonów. These leases show the attraction of
plans.”
of the surface area of almost thirty Olympic-size
the park’s strategic location and reflect our close
swimming pools, at its Piotrkow distribution park
relationship with a major logistics contractor with
The park provides 75,000 sqm of space, which
in Poland with one of the country’s largest supply
a strong presence in Poland and clear ambitions
is fully occupied, and is located in Piotrkow
chain contractors, FM Logistic.
to grow its business internationally.” FM Logistic
Trybunalski, at the junction of Poland´s A1
is also a customer of P3 at its parks in the Czech
motorway with the E75 and E67 major highways,
Republic and Romania.
giving it direct road links to Warsaw, Wroclaw and
P3 Piotrkow Park
The
family-owned
logistics
company
agreed to lease 4,911 sqm of warehouses and
FM Logistic employs around 3,000 people in
scope for the development of 430,000 sqm of
offices in addition to renewing its contract for
Poland, making it one of the country’s largest
additional space.
the 32,088 sqm that it currently occupies at P3’s
logistics contractors. Its parent company’s three
Piotrkow park, South East of Lodz in central
main activities are as a supply chain contractor
P3 acquired the Piotrkow park and a site in Błonie,
Poland. FM Logistic, which is also a tenant at
to the food, retail and industrial or electronic
30 kms south west of Warsaw, in early February.
P3’s Mszczonow logistics park near Warsaw, is
industries across three continents.
P3’s other assets in Poland are at Mszczonow and
the rapidly growing logistics hub at Gadki, near
increasing its footprint at Piotrkow to service
the expansion needs of international retail chain
Piotr Sukiennik, FM Logistic’s Managing Director
Auchan, notably in central and southern Poland.
for Poland, said: “This is another chapter in the
Piotr
growth story of FM Logistic in Poland, where we
P3
Poland’s
Leasing
and
AWARDS 2015
JUNE 18, 2015 - INTERCONTINENTAL HOTEL, WARSAW
Exposition Partner:
Official Patronage:
Katowice. It comprises a 120 hectare plot, offering
headquartered near Strasbourg, France, has
Bzowski,
MANUFACTURING EXCELLENCE
Poznan.
C
M
Y
CM
MY
CY
CMY
K
Segro Logistics Park Prague fully leased
#CEEManufacturingAwards
location adjacent to the R6 motorway and the
www.ManufacturingAwards.eu
Prague airport. Among its tenants are companies
such as Kuehne + Nagel, Ikea and PRO.MED.CS
Praha.
Premier Partner:
Partner:
Auditor:
Award Sponsor:
Prague is one of the key locations for SEGRO in
the CEE region, where the company portfolio
comprises already 1,147,700 sqm. Magdalena
Supporting Partners:
Summit Partner:
International Media Partner: Media Partners:
Szulc, SEGRO’s Business Unit Director Central
Europe commented on the importance of the
Segro Logistics Park Prague
2014 around 75 percent of deals were transacted
Logistics operator Damco has leased 2,800 sqm of
logistics park about 12 km from the centre of
in Poland and the Czech Republic. The market is
space in SEGRO Logistics Park Prague in Hostivice.
Prague. Currently, Segro Logistics Park Prague
also receiving growing attention of international
The transaction was facilitated by JLL.
offers over 100,000 sqm of industrial space for rent
investors – in QI 2015 €731 million were transacted
which is standing and fully leased.
in the Czech Republic compared to €458 million
transacted in Poland.
One of the world’s leading providers of freight
14
market: “The Czech market is a strong runner-up. In
forwarding and supply chain management
The park’s potential is over 250,000 sqm of modern
services, Damco, part of the A.P. Moller-Maersk
logistic and industrial space that will be provided
Group, has leased the last existing space in the
on 70 ha of land. The park benefits from strategic
June 2015
For more information about the nomination process/sponsorship opportunities/attending the
CEE Manufacturing Excellence Awards & Strategy Summit:
Event Director / Craig Smith / +48 604 144 769 / [email protected]
Anna Kaliszewska / Head of Nominations, +48 22
586 30 19, [email protected]
June 2015 CEE COMMERCIAL REAL ESTATE NEWS EuropaProperty
15
Prologis extends 11-year customer relationship
with Raben Polska
of Katowice, by the A4 motorway, which links
Ukraine with Germany, and 15 kilometres from
the Gliwice-Sosnica Junction, where the A4 and
A1 motorways, the two biggest international
transport corridors in Poland, intersect; 15,000 sqm
at Prologis Park Blonie II, a 112,000 sqm distribution
park located within the Błonie-Pass Industrial Zone
at the E30 route (Berlin-Poznan-Warsaw-Biala
Podlaska), 25 kilometres west of the Warsaw city
centre and 10 kilometres from Tłuste Junction.
“The great advantage of our cooperation with
Prologis is the ability to agree to flexible leases,
as well as a quick decision-making process that
enables us to expand efficiently as the company
grows,” said Łukasz Pełko, regional director, Raben
Polska.
”Our long-term partnership with Raben confirms
that our facilities meet the evolving requirements
C
of leading logistics companies,” said Michał
M
Czarnecki, vice president, head of leasing, Prologis
Prologis Park Błonie
Prologis has signed two lease renewal agreements
100,000 sqm of distribution space in eight of
with Raben Polska, a provider of logistic services,
Prologis’ buildings across the country.
totalling 40,000 sqm in its parks in Chorzow and
Details of the transactions include: 25,000 sqm
Blonie. The company has been a Prologis customer
at Prologis Park Chorzow, a 235,000 sqm modern
in Poland since 2004. Currently, it leases more than
distribution park located on the western outskirts
Y
Poland. “For the building
CM
in Chorzow, for example, we are providing
MY
additional features that tailor to the demands of
CY
our customer, such as an allowable fire load of
CMY
more than 4,000 mega joules per sqm.”
K
BRDA discusses logistic and warehouse development
opportunities in Bydgoszcz
The Bydgoszcz Regional Development Agency
She also emphasised the city’s strong points,
leader of the Investor Service Department at BRDA,
(BRDA) recently held a business breakfast in
including its manufacturing potential (mainly for
a presentation report was made by the General
Warsaw about the warehouse and logistics market
export), which combined with the availability of
Directorate for National Roads and Motorways. The
in Bydgoszcz. The conference was attended by real
skilled staff underpins Bydgoszcz’s potential for
report focused on the progress of construction of
estate consulting agencies, warehouse developers,
logistic centres.
the expressway S5 that will connect the A1 and
logistic companies and manufacturers.
The
deputy
mayor
of
Bydgoszcz,
A2 motorways with the Silesian coast. A panel
Lukasz
Edyta Wiwatowska then presented the investment
discussion was then held about the opportunities
offer encouraging participants to take a closer
arising from upgrading the existing national road
by
look at the Bydgoszcz Industrial and Technology
no 10 to the expressway connecting Bydgoszcz
introducing the city of Bydgoszcz. During the
Park and the parts of it covered by the Pomeranian
and Torun, which will also provide better access to
conference Edyta Wiwatowska CEO of BRDA made
Special Economic Zone.
the A1 motorway.
Niedzwiecki
welcomed
all
the
guests
a presentation of the city as a destination that can
be proud of its well developed production sector.
16
Following a presentation by Michal Kornacki, team
June 2015
June 2015
17
WAREHOUSE
Robust Q1 for Polish industrial market
Tom Listowski, Partner, Head of Industrial Department
& CEE Corporate Relations, C&W
followed by the Warsaw region (104,900 sqm) and
Vacancy rate at the end of the first quarter 2015
Poznań region (80,000 sqm) as well as the region
dropped to 6.3 percent, which equates to 574,000
of Upper Silesia (78,000 sqm). Less developed
sqm of available warehouse space. The highest
markets such as Szczecin, Lublin, Rzeszow and
vacancy rate was reported in the regions of
Torun also attracted strong occupier interest. New
Warsaw (Warsaw’s inner city: 12 percent, Warsaw
lease agreements accounted for the largest share
Suburbs: 11 percent) and Upper Silesia (8 percent).
54 percent of all transactions, switching places
The highest decline (over 60 percent) was noted in
with renewals, which declined to 31 percent,
Central Poland, a result of healthy demand in this
followed by extensions (15 percent).
region.
Tom Listowski, Partner, Head of Industrial
Supply at the end of the first quarter of 2015 stood
Department & CEE Corporate Relations, Cushman
at over 290,000 sqm posting a slight increase
& Wakefield, said: “At the conclusion of the first
compared with the first quarter of 2014. Poznan
quarter, 2015 looks set to be another prosperous
region accounted for the largest amount of space
year for the industrial market in Poland. As in
delivered to the Polish market (52 percent). The key
previous years, take-up predominantly came from
schemes completed in this year opening quarter
logistics operators as well as companies from the
included: BTS for Intermarche in Poznan (82,000
automotive, electronics and food sector. Amazon
sqm, Goodman), phase I Panattoni Park Poznan IV
This first quarter of 2015 saw a notable increase
activity in Poland contributed to increasing share
(35,000 sqm) and BTS facility for Volkswagen in the
in the development and leasing activity on the
of e-commerce sector in total leasing volume.
area of Poznan (32,000 sqm, SEGRO).
modern industrial market in Poland. According
At the end of the first quarter of 2015 some
to Cushman & Wakefield, warehouse take-up in
615,000 sqm of modern warehouse space was
Rents in the largest markets remained flat. The
this period stood at just less than 600,000 sqm,
under construction, which points to a healthy
highest rates are commanded in urban area of
which represents a 32 percent rise compared with
development activity, with the region of Wroclaw,
Warsaw (€4.40-5.50 /sqm/month), with the lowest
the first quarter of 2014. Total warehouse stock
Upper Silesia and Poznan recording the highest
in the region of Central Poland (€2.40-3.95 /sqm/
surpassed 9,112,000 sqm.
levels of activity. Modern Class-A warehouse parks
month) and in the capital’s fringe areas (€2.40-
were also constructed in the submarkets of Lublin,
3.80 /sqm/month). Rental rates in the remaining
With a total 145,000 sqm the region of Central
Szczecin, Rzeszow, Torun, which until then were
regions stand at €2.90-3.60 /sqm/month.
Poland (mainly Piotrków Trybunalski) boasted
not on major developers’ radar.”
the most first quarter leasing volume. This was
New building at Prologis Park Budapest-Sziget most
sustainable in Hungary
18
Prologis has announced that DC6 at Prologis
and cross docks with 6 metre eaves’ height, which
houses DB Schenker’s new office headquarters,
Park Budapest-Sziget has attained the highest
provides optimal operational costs for heating and
accommodating more than 200 staff in 2,500
sustainability rating of any building in Hungary.
lighting. The facility’s 7.5 metre column grid allows
sqm of modern office space, which was also
The 7,500 sqm building has been accredited a
for 45 docks along with a side loading ramp and a
built according to sustainability and ergonomic
BREEAM ”Good” rating, making it the first property
forklift ramp to serve the 5,000 sqm space. It has
guidelines.
in Hungary to have received accreditation from
approximately 35 more docks per rentable space
BREEAM under its new guidelines.
then traditional logistics buildings.
This build-to-suit facility was designed to meet the
The facility was delivered in November 2014 for DB
requirements of the Transported Asset Protection
Schenker, a leading integrated logistics provider
Association. It includes column-free warehouse
and long-term, global customer of Prologis, which
space, side-loading ramps for trucks and vans
is also leasing 20,000 sqm of adjacent space. It also
June 2015
Prologis Park Budapest - Sziget
June 2015
19
SEE AWARDS
SEE AWARDS
Winners celebrate at the 10th annual SEE Real Estate Awards
expansion, contribution to the market, market
the Year went to Optim Project Management.
Chamber
of
Commerce,
Filipovic
Business
share, concept and design, and commercial
Finally, the award for Law Firm of the Year went to
Advisory and RICS. Venue Partner Radisson BLU
success.
Dentons.
Hotel. Innovation Partner ROSA. Energy Software
Other major winners for the company awards
Premier Partner Immofinanz Group. Associate
included Invest4SEE as the Industrial Developer
Partners CA IMMO, DTZ Echinox, Skanska Property,
On behalf of our sponsors, judges and attendees,
of the Year, Chapman Taylor for Architectural Firm
Orhideea Centrul Comercial, Esplanda Centrul
we offer our congratulations to all the winners.
of the Year and MK Illumination for Professional
Comercial and Tom Centrul Comercial. Award
Foundations are already in place for next year’s
Service Provider of the Year. The Property
Sponsor MK Illumination. Gift Sponsors S+B
event, which promises to be even bigger.
Management Team of the Year went to DTZ
Gruppe and BCR. Supporting Partners Polska
Echinox and the Project Management Firm of
Centrum
Partner IBC. Auditor EY.
EuropaProperty
has
successfully
completed
biggest of which was Immochan Imobiliare.
Concept & Design Project of the Year for their
its 10th annual SEE Real Estate Awards at the
The retail developer shone the brightest on the
shopping centre in Bucharest, ParkLake. The highly
Radisson BLU Hotel in Bucharest, Romania. The
evening picking up three awards including Retail
praised Mercure Hotel by the Accor Group won
awards gala was heralded as a great success and
Developer of the Year, Overall Company of the
Hotel Development of the Year.
was well received by all winners and their guests.
Year and Professional of the Year for their very own
For more “trending details” on Twitter please follow
Managing Director Tatian Diaconu.
#SEEAwards.
The 10th annual SEE Real Estate Awards for 2014
prizes for their AFI Park buildings 2 and 3 including
Bank/UniCredit Group in Romania. UniCredit was
was held in front of a large and enthusiastic crowd.
Office Development of the Year and Overall
also awarded Bank of the Year. Meanwhile, NEPI
The event brought together some of the region’s
Project of the Year. Skanska was also a big office
and Raiffeisen Evolution picked up the award for
top real estate developers, investors and market
sector winner during the evening. Not only did the
Investment Deal of the Year for Promenada Mall.
professionals who were there to see who would
Swedish-based company win the Office Developer
collect the 29 prizes that were handed out over
of the Year, it also picked up the Green Building of
the Year for Green Court Bucharest.
On the agency side international property advisers
CBRE collected a hat trick of awards including
Office, Retail and Warehousing Agency of the Year.
Company of the Year awards were presented to
Project of the Year award winners were rated
JLL picked up the award for Investment Agency
the leading developer, investor and professional
according to quality of design, building efficiency,
of the Year, largely in response to its closing of the
service providers in South Eastern Europe for
quality of location, environmental concerns and
Promenada Mall deal to NEPI. Coldwell Banker took
their activities and accomplishments during 2014.
commercial success The judges decided that
home the prize for Residential Agency of the Year.
Companies were judged on their overall market
this year’s best retail development was Vulcan
contribution, quality of customer services, market
Value Centre by NEPI. On the residential side, the
Accentuating the interest in the SEE region’s retail
innovation, commercial success, leadership and
Residential Development of the Year prize went to
sector, a couple of key retailers were awarded on
market penetration.
Copou Bellevue, a project by the Adama Group,
the night. Overall Retailer of the Year and Fashion
which also collected the Residential Developer of
Retailer of the Year over 400 sqm went to H&M
the Year award.
and Fashion Retailer of the Year under 400 sqm
year’s event suggested an underlying strength
20
&
Romanian
Full list of SEE Real Estate Award Winners
Year went to Gabriela Dragulin, Head of the Real
Estate Financing Department at UniCredit Tiriac
The quality and number of nominations for this
British
This year’s Overall Professional Woman of the
Developer AFI Europe scooped up a couple of
the course of the evening.
Handlowych,
Retailer of the Year under 400 sqm
Kenvelo
Industrial Agency of the Year
CBRE
Retailer of the Year over 500 sqm
H&M
Retail Agency of the Year
CBRE
Professional Service Provider
of the Year
MK Illumination
Office Agency of the Year
CBRE
Architectural Firm of the Year
Chapman Taylor
Law Firm of the Year
Dentons
Project Management Firm
of the Year
Optim Project Management
Property Management Firm
of the Year
DTZ Echinox
Bank of the Year
UniCredit Tiriac Bank/UniCredit Group
Residential Agency of the Year
Coldwell Banker
Investment Agency of the Year
JLL
Investment Deal of the Year
NEPI acquired Promenada Mall from Raiffeisen
Evolution
Residential Developer of the Year
Adama Group
Industrial Developer of the Year
Invest4SEE
Retail Developer of the Year
Immochan Imobiliare
Office Developer of the Year
Skanska Property Romania
Concept & Design Development
of the Year
ParkLake - Sonae Sierra/Caelum Development Romania
Green Development of the Year
Green Court Bucharest - Skanska Property Romania
Residential Development of the Year
Copou Bellevue - Adama Group - Romania
Hotel Development of the Year
Mercure Hotel - Accor Group - Romania
Retail Development of the Year
Vulcan Value Centre - NEPI - Romania
Office Development of the Year
AFI Park 2 & 3 - AFI Europe - Romania
OVERALL AWARDS
Retailer of the Year
H&M
Company of the Year
Immochan Imobiliare
Project of the Year
AFI Park 2 & 3 - AFI Europe
Professional Woman of the Year
Gabriela Dragulin - UniCredit Tiriac Bank
Professional of the Year
Tatian Diaconu - Immochan Imobiliare
was received by Kenvelo. Retailer of the Year
to the region’s property markets, resulting in
Portuguese developer Sonae Sierra and Irish
awards were given to retailers active throughout
many companies winning multiple awards. The
concern Caelum Development won the inaugural
the region based on their market innovation,
June 2015
June 2015
21
FINANCE
FINANCE
Aviva sells Focus Park shopping centre in Rybnik
Agnieszka
Kolat,
National
Director,
Retail
points on offer, as well as an entertainment section
Investment CEE, commented: “We are glad to have
(Multikino multiplex). Among the key tenants of
had the opportunity to represent Aviva Investors
the scheme are: Alma, Bershka, C&A, CCC, Cropp,
in another sale transaction to be concluded on
Empik, House, Mohito, New Yorker, Reserved,
the retail market in Poland. This transaction clearly
Stradivarius, Rossmann and Pepco.
illustrates the growth in retail investor activity. It
Focus Park Rybnik
also further proves the interest among key foreign
The Focus Park in Rybnik was commissioned for
investors in shopping centres that are located
use in 2007 and is located on the historic premises
The Aviva Investors’ fund has finalized the sale
outside major Polish agglomerations, boasting
of the former brewery. The centre’s key strengths
transaction of the Focus Park shopping centre
a strong position on its particular market, a wide
are its central location, well-served by public
in Rybnik. The scheme was purchased by Union
catchment area, high footfall and loyal customer
transport and a diversified offer adjusted to the
Investment for an undisclosed price.
base.”
needs of its clients, with numerous tenants that, in
the area, can only be found in this centre.
Experts from JLL, Linklaters and Deloitte advised
Focus Park, the leading retail centre in Rybnik,
Aviva Investors in this transaction.
with 17,846 sqm GLA, has 74 shops and services
HB Reavis secures
bank financing for
Postepu 14
Bank Pekao is a subsidiary of UniCredit Group,
HB Reavis’ long-term lending partner in Central
Europe. The bank is the sole lender of the project.
HB Reavis Group has secured a €58 million loan
“We appreciate this financial commitment from
from Bank Pekao for the refinancing of costs
Bank Pekao, which confirms not only the quality
related to the acquisition and construction of its
and potential of our investment, but also the
office building at Postepu 14. This development,
reliability of HB Reavis as a trusted business partner,”
€61.55 million for the financing of Konstruktorska
currently underway in the Warsaw district of
said Stanislav Frnka, CEO, HB Reavis Poland. “We’re
Business Center, HB Reavis’ first project in Poland.”
Mokotow, will provide the local property market
particularly pleased as this is our second major
with 34,455 sqm of modern grade A office space.
loan agreement with Bank Pekao, following
It is on schedule for completion in June.
December 2013 when the bank granted us with a
DEKA sells plot to
Yareal Polska in
the Wola district of
Warsaw
Postepu 14
of the central part of the second metro line
EBRD buys
Bucharest City Hall
bonds with €75
million
contributes to investor interest in this dynamically
The European Bank for Reconstruction and
developing business district.”
Development (EBRD) has invested €75 million in
despite growing competition, Wola has great
potential as a location for office buildings. The
recent reopening of Prosta Street, Kasprzaka Street
and Daszynskiego Roundabout as well as opening
JLL has advised Deka Immobilien GmbH on the
bonds issued by the Bucharest City Hall.
sale transaction of a plot with an existing office
The office building offers 10,600 sqm of space.
building located on it, in the Wola district of
Its main advantage is its location – the scheme
Warsaw. The 9,600 sqm plot, purchased by Yareal
The municipality has launched last week €500
has been developed in the vicinity of the Rondo
Polska, is located at Kasprzaka 2/8 Street in the
million worth of bonds on the Bucharest Stock
Daszyńskiego metro station, in the heart of
vicinity of Daszynskiego Roundabout. The value of
Exchange, at an average yield of 3.98 percent.
Warsaw’s office district.
It was the first listing of municipal bonds on the
the transaction has not been disclosed.
Bucharest bourse.
Daniel Puchalski, Head of Land Advisory Services,
EBRD has focused on bonds with longer maturities,
JLL, commented: “This transaction proves that,
where it estimated that the demand would be
weaker.
22
Junel 2015
June 2015
23
PEOPLE ON THE MOVE
PEOPLE ON THE MOVE
Joanna Klusek joins DTZ as a new Director
Joanna Klusek has strengthened DTZ as a new Director responsible for retail property management. Joanna joined
DTZ from BOIG (Blue Ocean Investment Group) where she worked as an Investment and Development Director,
overseeing a retail portfolio worth €140 million. CCIM Certified, Joanna has gained extensive financing, leasing,
asset management and leasing experience in the Polish commercial real estate sector across various retail formats,
including: retail parks, shopping centres, strip malls, convenience shopping centres and outlets.
Promotion at Cushman & Wakefield
Soren Rodian Olsen has been promoted to Associate Director in Cushman & Wakefield’s Warsaw office. Soren is
currently Head of Office & Industrial Investment at C&W’s Capital Markets, responsible for investor consultancy
services. He has 20 years of experience in commercial real estate and has worked for Aberdeen Asset Management,
Commerzbank Group and HVB Group (now UniCredit). Soren has a MRICS qualification. He is a graduate of
Copenhagen Business School and postgraduate of University of Westminster.
Piotr Piasecki appointed Head of Corporate Finance
CEE at JLL
Piotr Piasecki has been appointed to the position of Head of Corporate Finance CEE at JLL. Piotr, a graduate of the
University of Kent in Canterbury, has 10 years of experience in the commercial real estate sector with JLL. He cofounded the Corporate Finance Department for the CEE region in 2011. His recently finalized projects include the
€100 million re-financing process of Galeria Sloneczna in Radom with Helaba Bank, on behalf of AIG/Lincoln; and
the €30 million development financing for the construction of the Hermes Business Campus in Bucharest.
New appointment in Colliers International in Romania
Codrina Merla has joined Colliers International in Bucharest as a Marketing Specialist. Codrina is responsible for internal
and external communication, media relations as well as events for the Romanian market. Codrina’s professional
experience includes working in the banking sector, being part of Volksbank Romania team, as Communication
Specialist within the PR & Communication Department. Codrina graduated from the Communication and Public
Relations Faculty within theNational University of Political Studies and Public Administration in Bucharest and then
took her bachelor degree at Economical International Affairs, Academy of Economic Studies.
24
June 2015
June 2015
25
Premier Media Sp. z o.o.
Al. Jerozolimskie 81 room 13.01A,
02-001 Warsaw
Publisher
Craig Smith
[email protected]
+48 604 144 769
Editorial Director
Winston Norman
[email protected]
+48 (22) 586 30 30
Poland Country Manager
Anna Kaliszewska
[email protected]
+48 601 382 667
Hungary Country Manager
Gary J. Morrell
[email protected]
+36 121 734 251 111
Romania Country Manager
Mihaela Mazilescu
[email protected]
+40 21 781 25 93
+40 722 517 680
Russia CIS Country Office
Mikhail Barkovskiy
[email protected]
+48 697 401 397
Marketing Department
Monika Pszczółkowska
[email protected]
+ 48 (22) 586 30 29
Real Estate Event Calendar
1 - 2 June
The 10th Annual CEE GRI
Prague, Czech Republic
www.globalrealestate.org
16-18 September
CoreNet Global EMEA Summit
London
www.corenetglobal.org
10 - 11 June
PRCH • ReDI
National Stadium, Warsaw, Poland
prch.org.pl
15 October
PRCH Retail Awards Gala
Warsaw, Poland
prch.org.pl
11-12 June
The 7th Magdus Outlet Conference
Paris
www.magdus2015.com
29 October
5th Annual EuropaProperty CEE
Investment Awards
InterContinental, Warsaw, Poland
www.ceeinvestmentawards.com
17 - 18 June
3rd Annual EuropaProperty CEE
Manufacturing Awards
www.manufacturingawards.eu
22-23 June
ULI Europe Trends Conference
London, U.K.
www.europetrends.uli.org
22- 24 June
VIII SEE Real Estate Belgrade
Exhibition & Conference
Belgrade, Serbia
www.rebec.rs
18-20 November
MAPIC 2015 the international real
property market
Palais des Festivals, Cannes, France
www.mapic.com
2016
11 February
8th Annual CEE Retail Awards
www.RetailAwards.eu
w w w. e u r o p a p r o p e r t y. c o m
UNLOCK
THE WORLD

Maturing retail market bringing popular brands to increasingly

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