British Polish Chamber of Commerce

The coronavirus pandemic has had a relatively benign effect on the Q1 2020 Warsaw office market figures, according to the latest Savills research. However, tenants already started to optimize costs which soon may increase the number of lease renewals and subleases. Companies will look for more flexible lease terms and cost-effective locations.

Savills global sentiment survey sees slight improvement on impact of Covid-19 on markets, with China showing green shoots.

The industrial sector is considered one of the most resilient to the negative economic consequences of the Covid-19 outbreak as it benefits from the growing popularity of online shopping, especially in recent weeks.

Real estate advisory firm Savills has been appointed property manager of Posejdon, a PLN 350 million office, conference and hotel complex in Szczecin.

Eiffage Immobilier Polska has appointed Savills to seek an investment partner for the development of a bespoke 453-unit build to rent opportunity in Warsaw within a secured development pipeline of over 2,300 units across Poland’s top five cities.

Wielkopolskie Biuro Planowania Przestrzennego (Poznań Planning Office - WBPP) has leased 720 sq m of office space in Kwadraciak, an office building neighbouring Poznań’s landmark Okrąglak. The landlord was represented in the lease transaction by real estate advisory firm Savills while the tenant was advised by Cushman & Wakefield.

According to real estate advisory firm Savills, commercial property investment activity hit EUR 2.92bn across Poland in H1 2020, up by almost 5% on the same period in 2019.

According to Savills, the impact of the pandemic is set to accelerate online retail penetration by an average of one year and, in turn, drive demand for prime logistics space in Europe.

The investment volume on the Polish commercial property market is estimated to have reached EUR 1.05 billion in Q3 2020. According to real estate advisory firm Savills, the industrial sector accounted for approximately 70% of that total, which illustrates the current investor preference for logistics properties, especially facilities dedicated to e-commerce.

Iceland, Sweden and Norway show top potential for hyperscale and cloud-scale data centre investment, followed closely by Denmark and the Netherlands according to research from Savills.