Art-Invest Real Estate secures long-term lease renewal with Süddeutscher Verlag at SZ Tower

Art-Invest Real Estate has achieved a major leasing milestone with Süddeutscher Verlag signing a new long-term lease for a substantial part of the SZ Tower in eastern Munich. The publishing house, which has occupied the tower exclusively since its completion in 2008, will continue its presence at Hultschiner Straße as the building transitions into a multi-tenant property.

The lease renewal forms part of a broader repositioning strategy for the high-rise. Art-Invest plans to convert the SZ Tower into a multi-user office building and redesign it to meet current workplace expectations. The full redevelopment, including a rebranding of the tower, is planned for completion by the end of 2028.

As part of this transformation, the ground floor will be expanded with new functions and amenities. The aim is to create a flexible working environment that supports a wider range of tenant profiles. Planned additions include shared spaces, catering and conference facilities, fitness areas, lounge zones and work environments suited for both collaborative and focused tasks. The design will draw on Art-Invest Real Estate’s experience from recent projects in Munich, such as Macherei and Momenturm at Ostbahnhof.

“We are delighted with the successful conclusion of the agreement with Süddeutscher Verlag. The decision by a long-standing tenant to renew its lease on the property underlines the high quality of the property and the confidence in the planned redevelopment into a modern and versatile working environment,” said Tobias Wilhelm, Managing Director at Art-Invest Real Estate.

Süddeutscher Verlag also emphasised the importance of continuity. “Since its completion, the SZ Tower has met all our requirements for a prestigious, high-quality building with flexible and modern office space. With this long-term lease, we are sending a signal of continuity and our commitment to the location. The planned communal areas and modern working environments are an important step for us towards future viability and employee orientation. We are delighted to be the first tenant to actively participate in the redesign,” said Dr. Christian Wegner, CEO of Süddeutscher Verlag.

Art-Invest Real Estate was advised on the lease by GSK Stockmann, while Süddeutscher Verlag received legal counsel from Heuking and BNP Paribas.

Slovakia: Wages rise across all monitored sectors in August

Average nominal wages increased year-on-year in all ten monitored economic sectors in August 2025, according to preliminary data from the Statistical Office of the Slovak Republic. The strongest wage growth was reported in food and beverage service activities, while employment developments remained mixed, with declines recorded in half of the monitored sectors.

In August, nominal wages rose across the entire monitored sample. The increases ranged from 0.5 percent in the sale and repair of motor vehicles to 9 percent in food and beverage service activities. Transport and storage, construction and retail trade each recorded wage growth of roughly five percent compared with the previous year.

After adjusting for inflation, real wages increased in six of the ten sectors. The highest real wage growth was 4.6 percent in food and beverage services, while accommodation reported the weakest positive result at 0.2 percent. Real wages decreased in the sale and repair of motor vehicles, selected market services, industry and information and communication.

For the January–August 2025 period, nominal wages increased in all monitored sectors, while real wages rose in nine of them. Real wage growth ranged from 0.2 percent in wholesale trade to 4.6 percent in food and beverage service activities. The only real decline over the eight-month period was a 1.4 percent reduction in selected market services.

Employment trends showed continued divergence. In August, employment fell year-on-year in five sectors, with wholesale trade reporting the largest decline of 4 percent. Smaller reductions were recorded in selected market services, construction, industry and transport and storage, where decreases ranged between 0.8 and 1.8 percent. Employment increased modestly in retail trade and motor vehicle repair, accommodation, food and beverage services, and information and communication.

For the January–August period, employment rose in five sectors, with accommodation reporting the strongest growth at 2.4 percent. The largest declines over the same period were observed in transport and storage and wholesale trade, both below 2 percent.

The figures are based on monthly business surveys conducted by the Statistical Office, monitoring wages and employment in selected sectors including industry, construction, transport and storage, information and communication, internal trade, accommodation, food and beverage services, and selected market services.

Ninth attempt to sell Štiřín Castle begins with a starting price of CZK 720 million

The Office for State Representation in Property Affairs (ÚZSVM) is launching its ninth electronic auction of the Štiřín Castle complex today at noon. The starting price is set at CZK 720 million, less than a quarter of the initial CZK 3.3 billion reserve price used in the first auction attempt in November 2024. If sold, it would be among the highest-value transactions recorded by the office.

The auction will run for 24 hours. A minimum bid at the starting price is required to validate the sale, and subsequent increases must be at least CZK 50,000.

ÚZSVM assumed ownership of the property in June 2023 after it was transferred from the Ministry of Foreign Affairs, which determined it no longer needed the premises. The property was first offered to other state bodies, but no institution expressed interest. The castle’s furnishings were later transferred to the National Heritage Institute, and the grounds were prepared for public auction.

Over the course of repeated auction rounds, the office gradually reduced the price and removed certain plots from the sale, including parts of the park now managed by Czech Forests and land designated by the municipality of Kamenice for sidewalk construction. Despite price adjustments, no bidders participated in the first seven auctions. In the eighth round, one party submitted the required deposit but placed no bids.

Štiřín Castle dates to the 18th century and previously operated as a hotel with a restaurant, wellness facilities and a golf course. The property was shaped by early 20th-century modifications designed by architect Jiří Stibral and by renovations carried out between 1985 and 1993. It belonged to the Ringhoffer family for decades before being nationalized after World War II.

If sold, Štiřín could become one of the most lucrative transactions in ÚZSVM’s history. The current record is the October auction of Prague’s Broadway Palace, which reached CZK 848 million, pending a matching right by the tenant. Before that, the highest sale was the 2015 disposal of the former monastery complex at Prague’s Republic Square for CZK 790 million.

Source: CTK

Toyota Material Handling CZ moves into new premises at Panattoni Business Park Zdice

Toyota Material Handling CZ has taken over newly completed premises in Panattoni Business Park Zdice, which will now serve as the company’s Czech headquarters. The facility will support equipment rental, service operations and the delivery of material handling solutions. Panattoni is the project developer, and the Accolade group is the investor.

Toyota Material Handling CZ supplies forklifts, warehouse equipment and automated solutions, and provides rental and maintenance services across the Czech market.

František Mikeš, Managing Director of Toyota Material Handling CZ, commented: “The opening of the new hall in Zdice is another strategic milestone for Toyota MHCZ. The new premises, which match the pace of our growth and the technical demands of modern operations, bring together the key components of our offering – a new warehouse covering almost 12,000 m², a multifunctional demo area, a modern service workshop, and an administrative section that ergonomically and aesthetically reflects our overall care for our customers, partners, and employees. Everything is combined into a whole that meets demanding standards of sustainability, technical and energy efficiency with a strong emphasis on safety. The new environment is conceptually designed around the values of the Toyota Production System, which are an inherent part of Toyota’s wide range of handling equipment, as well as our own operations. We are firmly convinced that the new, modern Toyota MHCZ environment will bring our partners a higher level of service and new opportunities for further development on the Czech market for all of us.”

The facility has an overall area of nearly 14,000 m² and is targeting BREEAM New Construction certification at the Excellent level.

Jan Andrejco, Regional Director of Panattoni, said: “Toyota MHCZ’s decision to locate its operations and headquarters in Panattoni Business Park Zdice confirms our ability to offer our clients tailor-made solutions. We designed the project to meet high standards of sustainability and operational flexibility. We are delighted that the park is becoming a place where cutting-edge technology meets a responsible approach to the environment.”

Jiří Stránský, Head of Development at Accolade, added: “Toyota MHCZ has long been one of the brands that are pushing logistics and manufacturing towards greater efficiency and automation. It is no coincidence that such a partner has chosen modern, sustainable facilities in one of the most promising locations on the Czech industrial market. In our parks, we specifically create infrastructure for companies that bring high added value, technological solutions, and skilled jobs. The investment in the park in Zdice is another step towards making the regional economy competitive and ensuring that local industry meets high sustainability standards.”

Romania presents its Deposit-Return System as a model for European adoption

As EU member states prepare or refine Deposit-Return Systems (DRS) for beverage packaging to improve recycling performance, Romania’s system is attracting attention for its rapid implementation and early results. A new analysis by CES Bucharest, a think tank focused on economic and social development, outlines how DRS can support progress toward the EU’s 2030 climate and circular economy goals.

Romania operates the world’s largest fully integrated DRS for PET, metal and glass containers, launched in November 2023 and administered by RetuRO. According to the CES Bucharest assessment, the first full year of operation generated an estimated EUR 300 million impact on the national economy, created more than 2,200 jobs and achieved a recovery rate of about 84% in 2025 so far.

To present these findings, CES Bucharest hosted a discussion at the European Parliament with policymakers, industry representatives and DRS specialists.

Gemma Webb, CEO of RetuRO, said: “Romania has built one of the fastest-maturing DRS systems in Europe, delivering solid performance and offering a clear example of how a large-scale, integrated system can generate environmental, economic and social benefits in a short timeframe. Moreover, Romania implemented its DRS voluntarily, ahead of the EU’s 2029 deadline, which helped avoid last-minute pressure and ensured that a robust governance model was established from the outset. With the expertise, results and insights gained, Romania stands ready to contribute constructively to the EU’s wider discussions on DRS implementation and alignment.”

High return rates in established systems

CES Bucharest notes that countries with long-standing DRS programmes record return rates between 85% and 98%, including Norway, Sweden and Germany. These outcomes indicate that deposit-return systems can support the EU’s target of recycling 70% of all packaging by 2030.

Romania is using its early experience to outline practical considerations for other member states preparing their own systems. The analysis details governance structures, operational milestones and market performance indicators that helped coordinate producers, retailers and authorities and improve container collection rates.

Behavioural trends across user groups

CES Bucharest also examined the system’s social impact. Young adults (18–30) reported being motivated by both financial incentives (94%) and environmental concern (93%), with many adopting additional environmentally conscious habits. Families with children use the system as a learning tool, with 94% citing responsibility education and 97% citing environmental protection. Among seniors (60+), 97% value the financial return and 88% report moral satisfaction, with 80% expressing high satisfaction overall.

The analysis finds that the system also provides stable income opportunities for vulnerable groups, with average earnings around EUR 100 (520 lei) per month from returned containers.

Catella Investment Management acquires two residential developments in Göttingen

Catella Investment Management GmbH (CIM) has purchased two residential development projects within the Liesel Quartier in Göttingen for an individual mandate. The seller is WERTGRUND Wohnpartner GmbH, a joint venture between Wertgrund Immobilien AG and Bautra GmbH, which is also developing the wider neighbourhood.

The Liesel Quartier is located on the former Gothaer Versicherung site in southern Göttingen at Wörthstraße / Breslauer Straße. The masterplan provides for around 570 apartments across approximately 44,000 sqm of living space, with around 40% of units subsidised or rent-controlled. Construction is scheduled to begin in December 2025, with completion expected in 2027.

CIM’s acquisition covers buildings H40 and H50, comprising 118 privately financed apartments ranging from 41 to 86 sqm and totalling 7,810 sqm of rental space. Most units include a terrace or loggia and are planned with parquet flooring, underfloor heating and higher-spec interior finishes. A daycare centre of around 1,100 sqm is planned within building H40. Architecture is by Max Dudler.

Michael Keune, Managing Director of CIM, said: “With the acquisition in the Liesel Quartier, we are expanding our presence in the German residential segment as part of an individual mandate, specifically adding a location in a strong mid-sized city. The two new buildings in Göttingen are an excellent addition to the existing portfolio and strengthen its regional and structural diversification. At the same time, we are investing in a project that successfully combines ecological responsibility, social diversity, and architectural quality.”

The five-storey buildings are planned to meet the German Efficiency House 40 Standard and will be connected to the Stadtwerke Göttingen district heating network. An underground garage will include 49 parking spaces, supplemented by nine outdoor spaces—five of which are designated for car sharing. Bike parking, e-bike charging stations and largely car-free courtyard areas form part of the mobility concept.

Benjamin Rüther, Head of Fund Management Residential at CIM, commented: “Göttingen is increasingly developing into a dynamic residential and science hub with a high quality of life. As a result, the growing demand for high-quality but also affordable homes needs to be addressed. The Liesel Quartier shows how this can be achieved. It combines energy-efficient construction with social diversity and a modern mobility concept.”

Thomas Meyer, CEO and co-founder of Wertgrund Immobilien AG, added: “At Wertgrund, we are committed to realising our properties in accordance with high quality standards and creating genuine added value for society, the environment and investors alike. We are therefore delighted with the sale of two further sections of our project development in Göttingen and would like to thank Catella for the collegial and smooth execution of the transaction.”

The site is located between the districts of Geismar, Südstadt and Lohberg, with quick access to the city centre, Göttingen’s main station and Georg August University. Local services include shops, restaurants, schools, daycare centres and medical facilities. Enclosed block structures and internal green courtyards are planned to support quieter residential areas despite the central location.

Aeven relocates Czech headquarters to Port7; Colliers manages full project delivery

Danish technology company Aeven has completed the relocation of its Czech branch to new offices in the Port7 complex in Prague’s Holešovice district. The move, supported by Colliers, covered the full scope of the relocation process, including site search, lease negotiation, workplace analysis, design, fit-out, and change management. The project received an ABSL Diamonds award.

Aeven employs around 400 specialists in the Czech Republic and sought new premises to support its expansion and improve workplace conditions. Colliers delivered the 15-month project in August, serving as a single advisor for all stages.

The company has leased 1,575 sqm in Port7, a campus designed with a focus on sustainability and employee wellbeing. “The Port7 project, located on the banks of the Vltava River in Prague’s Holešovice district, perfectly matches Aeven’s corporate culture. It stands out for its sustainable solutions, connection to nature and application of smart, innovative features,” said Jana Vlková, Director of Workplace Advisory and Office Agency at Colliers. She noted that transport accessibility was another key factor, with employees able to reach the site by several modes, including public transport, cycling and, for some, even by boat.

Workplace analysis and design

Colliers began the assignment with a detailed workplace analysis to understand Aeven’s operational needs. Findings informed the layout and design, which aimed to support productivity, collaboration and employee comfort while reflecting Scandinavian design principles. Flexibility was a central element, allowing the space to adapt to hybrid work patterns and future headcount growth.

“Instead of the traditional static office model, we created a dynamic environment with flexible seating, modular meeting rooms and digital tools that allow employees to combine seamlessly remote and office work,” said Lasse Schmidt, Managing Director for Aeven Czech Republic & Hungary. The offices also feature a central community area for informal meetings, meals and discussions.

Change management and project outcomes

Change management formed a significant part of the relocation, with Colliers supporting Aeven throughout the transition. Employee feedback and utilisation data were used to assess the new environment, indicating improvements in satisfaction, collaboration and work–life balance.

“The Aeven project is a prime example of how Colliers can support clients through all stages of such complex processes. Thanks to our integrated approach, which covered everything from property search and design to project management, we were able to minimize risks and ensure the smooth running of this challenging project,” said Jana Vlková.

Panattoni completes freehold sale of Poyle 80 to Davies Turner

Panattoni has finalised the freehold sale of Poyle 80, a newly developed Grade A logistics facility in West London, to Davies Turner. The logistics and freight forwarding company already operates in the Heathrow area and has acquired the site as a long-term strategic asset, with the intention of consolidating and improving its operations in a modern, high-specification building.

Poyle 80 is a mid-box warehouse located close to Heathrow Airport, approximately 1 km from the Heathrow Cargo Terminal entrance. The property provides 79,216 sq ft of industrial space with a 12.5-metre clear height, five dock-level loading doors, two ground-level loading doors, a 50-metre secure yard, Cat A office space, 37 parking spaces, and an 800 KVA power supply. The building has been delivered to BREEAM Excellent and EPC A+ standards, with 24/7 unrestricted access.

Panattoni acquired the site in May 2023, secured planning consent in December 2023, and completed speculative construction during 2024 and 2025. The sale in December 2025 concludes a development and disposal process lasting just over two and a half years.

The transaction supports Panattoni’s ongoing focus on West London, following its acquisition of the former Symmonds and Hawker site at North Feltham Industrial Estate, now known as Panattoni Park Heathrow. The developer continues to target logistics land in supply-constrained areas, aiming to deliver well-located facilities with modern specifications and sustainability credentials.

Tony Watkins, Head of Development South East and London at Panattoni, said: “It was great to work with Davies Turner on such a complex transaction. Their commitment to the deal and the proactive way in which they approached every stage made the process a pleasure. I wish them every success as they expand their operations at Poyle 80.”

This is an excellent new facility that will support more sustainable operations. Panattoni remains committed to the West London market and will continue to source high quality sites like Poyle 80 that offer customers the flexibility they need to grow.”*

REALOGIS brokers 12,800 sqm of warehouse space in eastern Leipzig for Salcar

REALOGIS Immobilien Deutschland GmbH has arranged the lease of roughly 12,730 sqm within a recently completed commercial complex located around 12 kilometres east of Leipzig. The property, delivered in 2025, is owned by Hillwood Group.

The new tenant, Salcar GmbH, an e-commerce company operating internationally, has taken the space on a long-term basis. The agreement includes approximately 10,570 sqm of warehouse space, 550 sqm of offices and 1,250 sqm of mezzanine area. Salcar plans to consolidate several existing sites in the Leipzig region into a single facility to streamline operations.

The building offers a total rental area of about 26,200 sqm, with around 9,200 sqm of warehouse space still available. The site has direct access to transport infrastructure and is visible from the A14 motorway, situated roughly three kilometres away.

REALOGIS continues to operate as a major consultancy for industrial and logistics real estate in Germany, with offices across the country and a service offering that includes leasing, acquisition support, project development advisory and strategic real estate guidance for occupiers and investors.

Hercesa starts fourth Stellaris block as pipeline exceeds 600 apartments

Hercesa Romania has started construction of the fourth building in the first phase of Stellaris Residencias, located next to the Steaua stadium in Bucharest. The new building will include 114 apartments and follows the start of construction on the third building six months ago, which has 112 units. With this addition, the company now has more than 600 apartments under development, including 124 units in Stellaris building 2, 105 units in the Vivenda Prime project and 167 apartments in block D of Vivenda Residencias.

“We are at the end of a year marked by economic volatility and significant tax changes, such as the removal in August of the reduced 9% VAT rate, with inflation at 9.8%, the highest in the European Union, and the key interest rate kept at 6.5%,” said Alejandro Solano, General Manager of Hercesa Internacional. “The residential market in Bucharest, the second most important in our portfolio, has nevertheless proved resilient, and this is why we have decided to accelerate our development plans, launching new phases in the two projects, Stellaris and Vivenda, and targeting the premium segment through Vivenda Prime.”

The first Stellaris building was completed in 2024 and is fully sold. In the second building, five units remain available; the third building is at structural works stage and is 40% sold. Sales at Vivenda Prime have passed 30%, while units in block D of Vivenda are almost fully sold.

“Our strategy of developing residential projects in phases, which are in turn divided into stages, has allowed us to adapt to tax developments and changes in demand,” said Romeo Ghica, Operations Manager at Hercesa Romania. “We have created a diversified range of residential products, targeting market segments from medium to premium, with facilities introduced for the first time in our portfolio, in the context of a maturing market that has shifted buyers’ attention from purchase price to product quality, sustainability and integrated amenities.”

Hercesa has incorporated several updates in its medium and upper-medium segment projects (Stellaris, Vivenda), including centralised building heating systems instead of individual units, combinations of heat pumps and hybrid boilers, air-conditioning, smart-home features and heat-recovery units. Retail and educational spaces are also planned: Stellaris includes a 1,300 sqm retail area intended to be leased to a single operator, and the completion of the fourth building will add an educational facility for residents’ children.

Vivenda Prime, positioned in the premium segment, includes features aimed at improving residential comfort, such as an outdoor swimming pool for residents, energy-efficiency systems including heat pumps, and secure access. The development will include green areas, parking spaces for deliveries, a commercial unit open to the public and a multifunctional area reserved for residents for meetings or events. The project also offers a high degree of apartment customisation.

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