Money Buzz! Europa

Tag: poland office market

  • Globalworth manages half a million square metres in Poland

    Globalworth manages half a million square metres in Poland

    In August, the Retro Office House office building located in Wroclaw came under Globalworth’s management.

    Thus, more than 500,000 sqm of office and retail space in the company’s Polish portfolio is now managed by Globalworth’s teams.

    ”Retro Office House is the latest office building for which we are not only the owner but also the manager” says Maciej Kamiński, the Head of Property & Facility Management at Globalworth Poland.

    Retro Office House is a new office building in the center of Wroclaw. The building offers almost 22.000 sqm GLA, which is fully leased to such tenants as Infor and Olympus. 

    The property was acquired by Globalworth in the summer of 2019 for around EUR 59 mln.

  • Globe Trade Centre (GTC) highlights for Q1 2020

    Globe Trade Centre (GTC) highlights for Q1 2020

    GTC annual in-place rent went up 11% to €145.4m (€130.6m in Q1 2019) and gross margin from rental activity up by 1% to €30m.

    Occupancy kept high at 95%, profit before tax and fair value adjustments of €13m and profit after tax of €3m, earnings per share of €0.01

    Cash and cash equivalents amounted to €196.6m as of 31 March 2020.

    GTC had 19.000 sq m of newly leased or released space and completed Green Heart (N3), Belgrade, project.

    Three office buildings are under construction to bring €11.1m rent upon completion and stabilization: Matrix B Zagreb, Advance Business Center II Sofia, Pillar Budapest.

  • Globalworth has leased nearly 50.000 sqm in Poland this year

    Globalworth has leased nearly 50.000 sqm in Poland this year

    In the last 3 months the asset management & leasing department of Globalworth has signed contracts for a total area exceeding 28.000 sqm.

    Nearly 50.000 sqm of leased space in Globalworth buildings in Poland consists of new contracts, the prolongation of the existing lease contracts and the expansion of the leased spaces.

    Noteworthy is the very good leasing result in the second quarter of this year (28.500 sqm), which is particularly marked by the coronavirus pandemic.

    The companies that have decided to extend cooperation with Globalworth in Poland include, among others:

    • DXC – one of the largest end-to-end IT services companies (prolongation of the lease contract in Renoma in Wroclaw);
    • Rockwell Automation – global provider of solutions for the industry (expansion of the leased area in A4 Business Park in Katowice).
  • Rondo Business Park Krakow to be managed by Globalworth

    Rondo Business Park Krakow to be managed by Globalworth

    Starting July 2020, Rondo Business Park – the office complex located in Krakow – will be managed by Globalworth team. A percentage of over 80% of the company’s Polish portfolio is represented by in-house managed assets. 

    Rondo Business Park is a complex consisting of three buildings with a total leasable area of nearly 20.000 sqm. Located in the northern part of Krakow, at Lublańska 38 offers over 450 parking spaces.

    The investment was designed by the well-known studio Ingarden & Ewý and is equipped with technical solutions and amenities that are standard for A-class office buildings. 

    Rondo received the award “Krakow my home” in the category of public utility architecture and the awards of the Marshal of the Małopolska Region in the competition for the prize of the Stanisław Witkiewicz Małopolska Voivodeship in 2008.

  • Skanska signs in Warsaw the biggest lease ever in the company’s history

    Skanska signs in Warsaw the biggest lease ever in the company’s history

    Skanska has signed a 10 year lease with the insurance company PZU Group for 47.000 square meters office space and in addition 325 parking lots in the skyscraper office building, phase III of Generation Park in Warsaw, Poland.

    The tenant will start to take occupancy in the second quarter 2022. With this lease the building is now 98.5% occupied. This is the largest office lease agreement in terms of square meters in Skanska’s history.

    Generation Park will comprise of three office buildings with total leasable area of around 87.000 square meters of offices and retail space.

    Generation Park will be Skanska’s largest office development project in Warsaw and include the company’s first office skyscraper in CEE.

    Construction of Generation Park Y, phase III of the complex, started in November 2018. Shell and core completion are expected in the first quarter of 2021.

    The fit out works for the tenant will commence and be completed in Q2 2022, which is also the date for moving in.

    Skanska is an active player in CEE

    Outside the Nordics, the company has operations in building construction and civil engineering in Poland, Czech Republic, Slovakia and the UK.

    Skanska develops commercial properties in selected home markets in Poland, Czech Republic, Romania and Hungary.

    Residential development is active in Poland, Czech Republic and in the UK with the BoKlok concept.

    In 2019, Skanska had sales of SEK 33 billion and about 11.700 employees in its European operations outside the Nordics.