Soaring rents have seen London’s New Bond Street rise to become the world’s third most expensive retail street, while New York’s Upper 5th Avenue and Hong Kong’s Causeway Bay retain their first and second place rankings, according to Cushman & Wakefield. Warsaw Nowy Świat classified on 38th position.
Technology, Advertising, Media, and Information (TAMI) companies have long led the way in creation of modern, innovative offices. They introduced activity based working before it was ready for ‘prime time’ and found ways to use offices to display their brand and values. While their creative goals haven’t changed, other industries have clearly caught-up. Particularly the fast-learners in the technology industry with their amazing success have brought some key differences.
Shopping centre development activity in the first half of 2017 increased total floorspace across Europe to 160.8 million sq m at the midpoint of the year, according to Cushman & Wakefield. In the first half of the year 825,000 sq m was delivered to the market in Central & Eastern Europe (CEE), compared with 344,000 sq m in Western Europe – although Western Europe still accounts for more than two-thirds (68%) of total built shopping centre space. In total, 34 new shopping centre projects were completed (representing 84% of new space added in H1), while 21 existing schemes were extended.
Warehouse supply hit a record high at the end of Q3 2017. Poland’s industrial stock totalled 12.86 million sq m, which represented an 18% rise year-on-year. Tenant demand remained robust on the country’s core warehouse markets, driven largely by logistics operators whose share in total take-up amounted to 45%. The vacancy rate slipped down by 0.8 percentage points year-on-year while headline and effective rents remained largely unchanged, reveals global real estate services firm Cushman & Wakefield in its latest report Marketbeat – Polish Industrial Market Q1-Q3 2017.
The Polish Ministry of Economic Development announced plans to amend SEZ legislation long ago. At the Krynica Economic Forum in September its representatives said that the new regulations would come into force in mid-2018. Indeed, the changes could have revolutionary consequences for entrepreneurs intending to operate in a SEZ and apply for state aid.
A huge increase in urban logistics property space is required across key centres across Europe in the next few years to meet the exponential growth of eCommerce and the resultant need for last mile delivery in cities, according to a new research report from Cushman & Wakefield.
Cushman & Wakefield’s quarterly Fair Value IndexTM – which analyses 122 European office, retail and logistics markets – is at ‘Fairly Priced’ for the first time since 2009 when the region’s property markets were starting their recovery from the Global Financial Crisis.
Tenant demand for modern logistics and manufacturing space in Poland is growing at a rapid pace. In H1 2017, warehouse supply totalled 707,000 sq m while take-up hit a record high of 1,786,000 sq m, as revealed in Cushman & Wakefield’s report “MARKETBEAT: Polish Industrial Market in H1 2017”.
Poland has approximately 15,000 pharmacies, of which nearly 5,500 are chain pharmacies. The pharmaceutical law amendment, called “pharmacies for pharmacists”, introduces restrictions on establishing new pharmacies.