Finalists of this year’s edition of the PRCH Retail Awards competition included three projects delivered for the Złote Tarasy Shopping Centre in Warsaw by global real estate services firm Cushman & Wakefield. They were chosen from more than 100 entries.
The Polish retail market maintains its momentum despite the partial Sunday trading ban. This year’s supply is expected to hit approximately 490,000 sq m, the highest annual level in the last three years. Of that total, 52% will be delivered in cities a population of more than 400,000 while 42% will be handed over in cities with a population of less than 100,000, says global real estate services Cushman & Wakefield in its latest report MARKETBEAT POLISH RETAIL MARKET IN Q3 2018. 1. Retail assets accounted for nearly 45% of the total investment volume recorded in the first three quarters of 2018 2. 42% of the retail space to be completed by year-end 2018 will open in cities with fewer than 100,000 inhabitants 3. Five new brands entered the Polish market in Q3 2018: San Marina, Ximi Vogue, Kocca, Saffiano and Armani Exchange 4. During the first six months of the Sunday trading restrictions in force, average shopping centre footfall was down by 6.6% and turnover fell by 3.0%
Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, today released its third annual Corporate Social Responsibility (CSR) Report. The report highlights the firm’s commitment to transforming commercial real estate markets for the benefit of customers, society and the environment, and aligns the company’s approach with the United Nations Sustainable Development Goals (SDGs) to make progress toward international objectives.
In early October 2018, global real estate services firm Cushman & Wakefield announced promotions to key positions in its Office Agency in Poland and Central and Eastern Europe (CEE). The Office Agency team in Poland will be led by Krzysztof Misiak, previously the firm’s Head of Regional Cities. His key responsibilities will include operational management and integration of operational objectives of the office team across Poland. Richard Aboo will continue as Head of Office CEE with responsibility for further development of all business lines with a special focus on co-working and PropTech. He will also remain the main contact person in business relations with clients in the CEE region.
The Park Warsaw, a modern office complex, has signed up a new tenant. Novo Nordisk, a leading Danish healthcare company, will occupy a 1,830 sq m office. Global real estate services firm Cushman & Wakefield advised the tenant on the choice of the new location.
Danfoss Power Solutions has signed an 11,088 sq m office and warehouse lease at logistics park Hillwood Wrocław I BIS. The tenant was represented in the transaction by global real estate services firm Cushman & Wakefield. “Less than two years ago, during renegotiations of a 20,000 sq m lease on which Cushman & Wakefield advised, Danfoss Directors talked about a possibility of expansion at the existing warehouse facility on account of its superb location and potential. The client has now decided to lease more space to expand its operations in this region of Poland,” says Konrad Jacewicz, Senior Negotiator, Industrial and Logistics Agency, Cushman & Wakefield.
Global real estate services firm Cushman & Wakefield has been appointed a property manager of Sagittarius Business House, an office building in Wrocław. The owner of the facility is Warburg-HIH Invest Real Estate (Warburg-HIH Invest).
Global real estate services firm Cushman & Wakefield has signed a framework management agreement for 14 office buildings owned by the Skanska Group. The largest facilities include High Five A&B in Krakow (36,700 sq m) and Brama Miasta B in Łódź (27,800 sq m).
Global real estate services firm Cushman & Wakefield has been appointed a patron of the sixth two-day conference Hotel Trends Poland & CEE organised by Polskie Wydawnictwa Specjalistyczne ProMedia, a publisher of “Hotelarz”, the oldest and most popular magazine for hospitality investors, owners and managers. The conference will be held at Sofitel Warsaw Victoria on 26 and 27 November. The event will include an evening gala with presentation of awards in the competition HOTELARZ ROKU 2018 (HOTELIER OF THE YEAR 2018).
Despite geopolitical uncertainty and a slowing in the economic cycle, investment in the global property market has seen a significant rise of 18% year-on-year to a new record high of $1.8tn (2017: $1.5tn), according to research out today from Cushman & Wakefield.
WeWork – the space, community, and services provider with over 268,000 global members – will open its latest location at Warsaw’s Europejski scheme. Europejski, formerly known as the Europejski Hotel, is a mixed-use building offering Class A+ office and retail space. It is also home to Raffles Europejski Warsaw, Poland’s finest hotel.
In Central and Eastern Europe*, hotel owners are experiencing record months in terms of average daily rates which was the primary driver of the double-digit RevPAR (Revenue per available room) growth recorded by central European cities in 2017. The growing trend was also seen in the first half of this year (H1 2018). The only exception was Warsaw where RevPAR dropped slightly due to declining occupancy, yet the prices of rooms increased as in other capitals. “In 2018, the growth of KPIs on the Polish hospitality market has not been as rapid as in previous years. Warsaw has witnessed a slight decrease in occupancy levels and RevPar, which was caused mainly by the new supply of approximately 1,200 rooms delivered to the market between H1 2017 and H1 2018. With a strong development pipeline, the city is still catching investors’ eye.” said Maria Zielińska, Senior Hospitality Advisor, Cushman & Wakefield.