Savills Poland strengthens landlord representation department with key appointments

Global real estate advisory firm Savills has expanded its Landlord Representation team within the office space division, announcing the addition of two seasoned consultants, Kamila Bartosik-Budecka and Michal Porzycki. This move is aimed at enhancing the firm’s ability to support landlords in adapting their leasing strategies to evolving market conditions and tenant needs, ultimately boosting the attractiveness and value of properties.

Kamila Bartosik-Budecka, appointed as Associate, brings extensive experience in the real estate industry, having worked with major players such as Immofinanz/CPIPG, Solida Capital, and GLL Real Estate since 2015. In her new role at Savills, she will focus on developing tailored leasing strategies, attracting tenants, and coordinating marketing initiatives for property owners, helping them to maximize the value of their portfolios.

Michal Porzycki, also joining as an Associate, returns to Savills with more than 13 years of experience in commercial real estate. His career has included advising on office leasing transactions totaling nearly 120,000 sqm while working with firms such as BNP Paribas Real Estate, CBRE, and Hamilton International. At Savills, Porzycki will be responsible for guiding landlords through leasing processes, with a focus on enhancing the value and profitability of their properties.

The Landlord Representation team at Savills provides a comprehensive range of services for property owners, including leasing strategy implementation and commercial space management. With the addition of Bartosik-Budecka and Porzycki, the team is set to offer even more effective support to clients in a competitive market.

Daniel Czarnecki, Head of Landlord Representation, Office Agency at Savills, highlighted the importance of these new appointments. “By advising property owners, we become a trusted partner they can rely on. With the addition of new experts and increased resources, we can even more effectively support our clients in achieving their business goals. Strengthening the Landlord Representation department allows us to better align various leasing strategies with market conditions, accelerate commercialization processes, and increase the value of real estate in an increasingly competitive environment.”

Savills has a strong track record of building long-term relationships with landlords, earning numerous industry accolades for the effectiveness of its strategies. The growing Landlord Representation team continues to play a key role in advising on major market transactions and guiding property owners through the commercialization process, further solidifying the firm’s leadership in the real estate sector.

Raben Group opens state-of-the-art warehouse at CTPark Warsaw West

Raben Group has officially opened its newest warehouse facility at CTPark Warsaw West. The facility, developed by CTP, boasts advanced features designed to optimize warehouse operations and supply chain efficiency.

The new facility spans two buildings, WARW02 and WARW05, covering a total area of 110,000 sqm. Located in Wiskitki, adjacent to the A2 motorway and near the planned Central Transport Port, the complex provides a strategic location for logistics operations. The buildings received occupancy permits in early October, and Raben Group has now commenced contract logistics services, including warehouse operations and value-added services like co-packing.

Raben Group’s newest warehouse is equipped with cutting-edge technology, including 15 metres of usable height, temperature and humidity control systems, and an extensive underfloor heating system with 150 km of piping—the first of its kind in Poland on such a scale. The facility also features high-bay racking zones that offer 20 percent more space than typical reference halls. More than half of the warehouse, 60,000 sqm, is dedicated to Very Narrow Aisle (VNA) trucks, allowing for optimized storage capacity in narrow aisles.

Jolanta Sawińska, Regional Director of Raben Logistics Polska, expressed pride in the project, emphasizing its complexity and scale. “The opening of this branch strengthens Raben Group’s presence in Central Poland. This project posed significant challenges, not only in its size but also in the technical requirements we set for our partners. The halls’ advanced systems—particularly the 15-metre height, climate control, and underfloor heating—are a milestone for our operations. This is a tremendous achievement for our team and a crucial development for Raben Group and our customers,” Sawińska remarked.

The Raben Group warehouses account for nearly 40 percent of the target floor space of CTPark Warsaw West. The facility was built using the Build to Suit (BTS) system, tailored to meet the specific needs of the company. The warehouse also boasts more than 7 megawatts (MW) of power capacity to support various equipment and operations, further enhancing its logistics capabilities.

CTP’s Regional Construction Director in Poland, Michał Orzechowski, highlighted the longstanding relationship between CTP and Raben Group. “We frequently collaborate with companies in the third-party logistics (3PL) sector, and this project is particularly noteworthy for its scale and technological sophistication. CTPark Warsaw West is the 13th business park in the CEE region where Raben will operate. We’ve delivered a highly customized logistics infrastructure that will significantly support Raben’s operations and growth,” Orzechowski said.

CTPark Warsaw West is one of five CTP developments currently under construction in the Warsaw area, with the company expanding its footprint in the region. CTP has also acquired additional land for future projects, including CTPark Warsaw Janki and CTPark Warsaw Nowy Konik, signaling continued growth and investment in Poland’s logistics market.

Cordon Electronics Polska secures new facility at MLP Pruszków II logistics centre

In a significant development for the logistics and electronics industry, Cordon Electronics Polska has signed a lease for approximately 5,100 sqm of space at the MLP Pruszków II warehouse complex, located near Warsaw. The company will fully occupy the facility starting in December 2024, following a deal brokered by 88 Group.

The agreement marks another major long-term lease for MLP Group at its Pruszków II logistics centre, a prime hub for warehousing and logistics. Of the total space leased by Cordon Electronics Polska, 5,000 sqm will be dedicated to warehousing operations, while 130 sqm will serve as a modern office area. This new facility will enable Cordon Electronics to expand its services in Poland, offering advanced solutions for electronics maintenance, reverse logistics, supply chain management, and e-commerce logistics.

Tomasz Pietrzak, Leasing Director Poland for MLP Group S.A., expressed his enthusiasm for the deal, highlighting the advantages of the MLP Pruszków II site. “MLP Pruszków II is our largest warehouse complex, with substantial potential for further expansion. Its strategic location near the Warsaw metropolitan area and excellent connectivity through modern road infrastructure are key factors attracting tenants. In line with our strategic approach, the facilities adhere to the highest standards and undergo BREEAM certification.”

Cordon Electronics Polska, part of the global Cordon Group, sees this move as a vital step in strengthening its presence in the region. Michael Leseux, Eastern Europe Director Poland for Cordon Group, stated, “I am thrilled to announce our expansion into the Warsaw district at MLP Pruszków II with the upcoming launch of our new site. This strategic move allows us to offer tailored reverse logistics solutions for our clients, enhance operational efficiency, and create new job opportunities.”

The MLP Pruszków II logistics centre is located in the municipality of Brwinów, just five kilometres from Pruszków, and is the largest facility of its kind in the region. The complex, designed to accommodate over 424,000 sqm of space, has earned the prestigious BREEAM certification for its environmental standards. It features a rooftop solar PV system and offers excellent transport links, including proximity to the A2 motorway and international railway lines, ensuring seamless logistics for both domestic and international distribution.

As part of MLP Group’s “build & hold” strategy, the Pruszków II facility will remain within its portfolio for long-term management. The park’s adaptability and state-of-the-art infrastructure provide flexible conditions for tenants, allowing them to combine production, warehousing, and logistics functions.

Martyna Krężel, Managing Partner at 88 Group, which facilitated the transaction, praised the collaboration between Cordon Electronics and MLP Group. “With its prime location and state-of-the-art infrastructure, MLP Pruszków II provides an ideal solution for companies seeking efficient space. On behalf of 88 Group, I wish Cordon Electronics and MLP Group long-term success with this partnership.”

The new facility is set to become a critical asset in Cordon Electronics Polska’s continued growth in the region.

P3 Czech Republic’s Aleš Zacha discusses the evolving landscape of logistics real estate

In an exclusive CIJ EUROPE interview with Aleš Zacha, Head of Development of P3 Czech Republic, shared insights into the logistics and warehousing sector’s growth and transformation in the wake of the pandemic.

CIJ EUROPE: The logistics and warehousing sector has seen significant growth post-pandemic. How do you foresee the future of logistics real estate evolving, particularly in the Czech Republic?

Zacha noted that while the post-pandemic landscape was initially challenging, the logistics sector, particularly e-commerce, experienced remarkable growth. “We were all waiting to see what would happen, but we realized that demand continued to grow. Rent levels increased quarterly, which was amazing, especially in our portfolio around Prague. We witnessed zero vacancy rates; any available space had a queue,” he remarked.

However, he highlighted the impact of geopolitical factors, particularly the war in Ukraine, which led to a decline in demand in 2023, a trend that has persisted into 2024. “E-commerce drove growth, but supply chain disruptions from Asia due to pandemic-related issues highlighted the need for companies to stock inventory within Europe,” Zacha explained. This shift is leading to near-shoring strategies as companies aim to mitigate risks associated with global supply chain vulnerabilities.

CIJ EUROPE: What role does near-shoring play in the future of logistics and manufacturing in the Czech Republic?

Zacha elaborated that the trend toward near-shoring is gaining traction in both logistics and manufacturing. “It’s not a quick process; relocating manufacturing takes time and careful planning. While logistics can shift more rapidly, manufacturers require more substantial investments and timeframes,” he said. He also noted that big Asian e-commerce platforms are increasingly seeking to establish warehouses in Europe to better serve their customer bases.

CIJ EUROPE: How is P3 Parks addressing the growing importance of sustainability in logistics real estate?

Sustainability is a priority for P3 Parks, according to Zacha. “We have implemented various green initiatives, including adhering to BREEAM certification standards for new constructions and incorporating solutions for rainwater usage and renewable energy sources,” he stated. “We are also installing EV charging stations and ensuring our buildings meet modern sustainability criteria.”

However, Zacha acknowledged the challenge of balancing sustainability with client demands. “While many clients want sustainable systems, not all are willing to invest in the necessary upgrades. We believe this will change over time, as supply chain pressures will compel companies to embrace more sustainable practices,” he added.

CIJ EUROPE: What are P3 Parks’ plans for further expansion in the Czech Republic?

Zacha outlined P3’s growth strategy, which includes new developments and acquisitions. “We are focused on land banking and identifying new development opportunities, with a current lettable area nearing 9 million square meters and a portfolio value approaching €10bilion. We aim to grow even more,” he stated.

When considering new land acquisitions, Zacha emphasized the importance of accessibility to highways and workforce availability. “We are looking for locations beyond just prime areas like Prague and Brno. Our focus is on finding opportunities with good access to key markets and industries, particularly those connected to the German market,” he explained.

CIJ EUROPE: Urban logistics is gaining traction as cities grow. How is P3 Parks adapting to this trend?

While P3 primarily focuses on large logistics parks, Zacha acknowledged the rising demand for last-mile delivery centers. The company is currently exploring redevelopment opportunities in urban areas across Europe, including the Czech Republic. “We are aware that securing land in urban settings can be challenging due to higher competition from residential and office developers. Nonetheless, we remain open to opportunities, particularly in Prague,” he said.

CIJ EUROPE: What do you see as the biggest opportunities and risks in the industrial market in the coming years?

Zacha pointed out the automotive sector as both a risk and an opportunity. “The situation in the automotive market is uncertain, especially with the ongoing transition to electric vehicles,” he explained. He also identified rising energy costs in Europe as a significant risk, stating that energy prices are considerably higher than in the US and Asia, which poses challenges for manufacturing and logistics companies.

Conversely, Zacha remains optimistic about e-commerce growth and advancements in technology and production, particularly in sectors like semiconductors. “Czech Republic’s position in the heart of Europe, along with a skilled workforce, keeps it an attractive market for investment,” he said.

CIJ EUROPE: Finally, what does the future hold for P3 Parks in the next ten years?

Zacha envisions continued growth, with a focus on expanding their portfolio through acquisitions and new developments. “Our strategy remains consistent, with a commitment to sustainable, high-quality buildings. We want to ensure our developments are aligned with market demands for carbon neutrality and efficiency, which will ultimately enhance the value of our properties,” he concluded.

As the logistics and warehousing landscape continues to evolve, P3 Parks is strategically positioning itself to navigate challenges and seize opportunities in the Czech Republic and beyond.

Source: ©CIJ EUROPE

Poland ranks 31st among 38 OECD countries in 2024 Tax Competitiveness Index

Poland has been ranked 31st out of 38 countries in the 2024 OECD Tax Competitiveness Index, improving by two places from last year, according to a report. The top countries in the ranking include Estonia, Latvia, New Zealand, and Switzerland, while Colombia, Italy, and France were placed at the bottom for their tax competitiveness.

The Tax Competitiveness Index (ITCI) assesses countries based on how their tax systems promote neutrality and competitiveness. The report highlights both strengths and weaknesses of Poland’s tax policies.

Among the strengths of Poland’s tax system are:

• A corporate tax rate of 19%, lower than the OECD average of 23.9%.
• An extensive network of double taxation agreements with 87 countries.
• Corporate capital relief, limiting tax preferences based on debt.

However, the report also points out significant weaknesses, including:

• Multiple property taxes that separately affect real estate transactions, assets, banking assets, and financial transactions.
• Limited capacity for companies to offset net operating losses against future profits and no ability to use losses to reduce past taxable income.
• Companies in Poland can only deduct 33.8% of the real costs of industrial buildings, compared to the OECD average of 47.2%.

According to the OECD, corporate taxes are the most detrimental to economic growth, followed by personal income taxes and consumption taxes. Property taxes are seen as having the least impact on growth. Additionally, tax regulations that remain neutral, avoiding preferences for consumption over saving, tend to support more balanced economic activity.

The report emphasizes that as tax systems become more complex, their neutrality diminishes, potentially harming economic performance.

The Warsaw Enterprise Institute (WEI) has suggested that comprehensive tax reforms could significantly improve Poland’s ranking, potentially raising it to 14th place. The WEI’s “Agenda Polska 2030” report proposes reforms such as unifying VAT rates, replacing personal income tax (PIT) with a uniform payroll tax, and overhauling corporate income tax (CIT) with a new tax on corporate income.

“Reforming the PIT, CIT, and VAT systems could also increase fiscal revenues in the long term, contributing to greater financial stability for Poland,” the WEI concluded.

Source: OECD and ISBnews

Czech National Bank to sell Historic branch building in Ústí nad Labem

The Czech National Bank (CNB) has announced plans to sell its branch building in Ústí nad Labem, a move aligned with the ongoing digitization of its banking services. Starting on 1 November, the CNB will close its cash desk at this location, and by 2027, all cash circulation and payment operations in Ústí will cease, according to CNB spokeswoman Petra Vlčková.

The closure of the cash services at the Ústí branch is part of a broader effort by the CNB to streamline operations and embrace digital banking. “All positions connected to cash services in Ústí nad Labem have been eliminated,” said Vlčková, noting that the affected staff have not been offered replacements. Across the bank’s offices, a total of 43 positions will be cut as part of the digital transformation, with similar closures planned for branches in Plzeň and České Budějovice.

Although the cash desk will close, citizens will still be able to exchange damaged banknotes and coins at commercial banks, which are legally required to provide this service. For the exchange of invalid banknotes, customers can visit CNB branches in Prague, Brno, Ostrava, or Hradec Králové, or send them by post.

The CNB will not adjust its office hours following the closure of the Ústí cash desk. However, by 2027, all staff involved in cash operations will no longer be present at the branch. “We are working to find new roles within the CNB for employees currently engaged in financial market supervision in Ústí nad Labem,” added Vlčková.

The iconic branch building, constructed in the early 1990s in a post-modern style, is set to be sold in a competitive tender. The CNB hopes to secure the highest possible offer for the property. While parts of the building have been leased to various tenants, the bank will not pursue new rental agreements as it prepares the site for sale. Designed by architects Michal Gabriel and Miroslav Johanovský, the building is a notable post-revolution addition to the city center, featuring a distinctive pendulum on its façade.

This sale marks a significant change for Ústí nad Labem, where the building has been a landmark since the early 1990s.

Source: CNB and CTK

PSN begins major renovation of apartment building in Žižkov, adding seven commercial spaces

PSN has commenced a full-scale renovation of an apartment building in Prague’s Žižkov district, which will see the creation of 54 new units – 47 residential apartments and seven commercial spaces. The project will feature upgraded communal areas and a refreshed exterior with modern design elements. Additionally, PSN plans to develop a community zone with seating in a tranquil courtyard. A model apartment will be available from November 2024 for prospective buyers interested in contemporary urban living. The renovation is expected to be completed by June 2025, with owners moving in by the third quarter.

The Jeseniova project will offer 47 apartments with layouts ranging from 1+1, 2+kk, to 2+1, and floor areas between 48 to 103 sqm. Each unit will come with a new basement. The seven commercial spaces will retain the building’s original character while incorporating modern elements, such as new shop windows and updated window fittings.

The seven-story building, including an underground floor, will undergo a thorough renovation. This will include a new facade, refreshed staircases and railings, updated flooring, and modernized utility systems. A glass elevator will be added to enhance accessibility. To elevate the aesthetic, the common areas will feature marble tiles, cut-glass lighting, and designer mailboxes. The renovation will also ensure minimal maintenance costs in the future.

For added security, oak security doors with chip access systems and a camera system will be installed. Residents will also benefit from practical touches such as a designated cleaning room and a landscaped courtyard with raised beds, creating a relaxing communal space.

“The careful renovation will preserve the building’s historic charm while adapting it to modern living needs. It will offer a serene home environment for individuals, couples, and families,” said Jaroslav Macháč, Director of Residential Projects at PSN. He added, “The Jeseniova project also presents a strong investment opportunity, as Žižkov remains a highly desirable area for rental properties. The commercial spaces are perfect for shops and services.”

Žižkov is renowned for its vibrant cultural scene, offering a wide variety of restaurants, bars, and cafes. The area around the Jeseniova project is well-served by businesses, schools, and healthcare facilities, including the Královské Vinohrady University Hospital. The nearby Aero Cinema provides diverse entertainment options, while excellent transport links, including a tram stop directly outside the building, ensure convenient access to central Prague within 15 minutes by car.

Nature is also easily accessible, with the Vítkov Monument park just minutes away, offering jogging trails, bike paths, and picnic spots with stunning views of the city. Parukářka Park and Židovské pece, both ideal for outdoor activities, are nearby, as is the Pražačka sports complex.

Logivest secures Cross-Dock Warehouse for Westar Internationale Spedition GmbH

In a significant logistics deal, Logivest, the leading real estate consultancy specializing in logistics, has brokered a long-term lease for Westar Internationale Spedition GmbH, a medium-sized international freight company. The company will take over a cross-dock warehouse covering approximately 5,000 square metres, alongside an additional 5,000 square metres of open space in Wuppertal, North Rhine-Westphalia.

The property, located at Hölker Feld 42, is owned by freight forwarder Nüllig & Haß oHG, which manages several facilities in the industrial zone. The new space is set to accommodate Westar’s expanding order volumes as it aims to optimize its operations near its headquarters in Remscheid, just 10 kilometres away.

The newly leased facility features over 30 covered ramps, facilitating efficient goods transshipment. It also boasts a large open area, ideal for manoeuvring, parking, and storage, offering the company flexibility as it scales up operations.

Strategically located in the heart of the Bergisches Land region, the Wuppertal property enjoys excellent connectivity to key motorways, including the A1, A43, and A46, linking it seamlessly to the Rhineland and the Ruhr area. The site is also easily accessible by public transport, ensuring convenience for employees.

“This region’s topography offers limited availability for new logistics spaces, making cross-dock warehouses of this size particularly scarce,” said Ilias Krause, Consultant Industrial & Logistics Letting at Logivest NRW GmbH. “This lease highlights our expertise in finding optimal solutions in challenging markets.”

Jürgen Ott and Sebastian Nickel-Eberle, managing directors of Westar Internationale Spedition GmbH, expressed their excitement over the new acquisition: “Securing this facility marks a significant milestone for Westar. The cross-dock warehouse provides us with ideal conditions to meet growing customer demands and continue our expansion in a future-focused manner. We’re proud to strengthen our presence in the Bergisches Land region with this investment.”

Westar is scheduled to move into the Wuppertal facility on 1 January 2025, solidifying its operational base in the region for the foreseeable future.

Ghelamco secures financing for The Bridge in Warsaw from Santander Bank Polska

Developer Ghelamco has secured significant financing from Santander Bank Polska for its flagship office complex, The Bridge, located in Warsaw. The financing package includes a construction loan of approximately €181 million, a VAT loan of up to PLN 35 million, and an investment loan of around €185 million.

“The funding will enable us to complete The Bridge on schedule, while also ensuring the highest standards of finishing and implementing cutting-edge solutions. This will be our most technologically advanced and environmentally sustainable project to date. We are confident that The Bridge, like Warsaw Spire, will set a new benchmark for the Polish office market,” said Jarosław Zagórski, Managing Director of Ghelamco Poland. He emphasized the importance of the financing deal with Santander Bank Polska, which is not only providing the loan but has also become a key tenant in the development.

Brendan Long, Head of Property at Santander Bank Polska, praised the project, saying, “We congratulate Ghelamco on its vision to create a fantastic office space in Warsaw, blending modern and historic architecture. Santander Bank Polska is proud to support this market-leading ESG initiative and is committed to backing projects that contribute positively to Poland’s future.”

In September 2024, Santander Bank Polska became the strategic tenant of The Bridge, signing a lease for nearly half of the complex—around 24,500 sqm across 19 floors. This agreement marks the largest lease transaction on the Polish office market since 2022.

The Bridge is a prominent new development in Warsaw’s Wola district, combining a 40-storey skyscraper with the historic building of the former Bello Publishing House. Together, the structures will offer 52,000 sqm of premium office space at Plac Europejski, one of Warsaw’s key business hubs.

Ghelamco Poland, a major player in the commercial real estate sector, has been active in Poland for nearly 30 years, delivering over 1 million square meters of office, residential, retail, and warehouse space. The company’s iconic Warsaw Spire complex remains a flagship development in the capital’s skyline.

Santander Bank Polska, one of Poland’s top universal banks and a subsidiary of Spain’s Santander Group, continues to strengthen its presence in the country. With total assets amounting to PLN 276.65 billion at the end of 2023, Santander Bank Polska plays a significant role in Poland’s financial sector, offering a wide range of services including investment funds, insurance, leasing, and factoring.

Source: Santander Bank Polska and ISBnews

Czech railways see 4% rise in passenger numbers in first half of 2024

Czech train carriers transported 92.1 million passengers in the first half of 2024, a nearly four percent increase compared to the same period last year, according to preliminary data from the Ministry of Transport. The figures were published by the Czech Statistical Office. Of this total, the national carrier, Czech Railways (ČD), handled 81.6 million passengers, marking a 3.2 percent year-on-year rise, according to ČD spokesman Filip Medelský.

The growth in passenger numbers is largely attributed to the introduction of new trains, which have boosted capacity and improved service quality. However, the first-half figures remain about five percent below pre-pandemic levels, as trains carried nearly 97.1 million passengers in the first half of 2019. In the second quarter of 2024, 47.8 million passengers used the railways, up four percent from the previous year.

In terms of passenger transport distance—measured by the total kilometers traveled by all passengers—rail carriers logged 5.17 billion kilometers in the first half of the year, a year-on-year increase of nearly 13 percent. This figure is just 1.3 percent lower than the distance covered in 2019. Czech Railways alone accounted for 3.91 billion kilometers, an 8.5 percent rise compared to the previous year.

Czech Railways reported particularly strong growth on international routes, including the Berliner and Vindobona lines, which connect Prague with Vienna, Dresden, Berlin, and Hamburg. On domestic routes, demand has been highest on lines featuring newly deployed trains. “With the ongoing delivery of new vehicles this autumn, including regional RegioFoxy and RegioPanter trains and long-distance ComfortJets, we expect continued growth in customer numbers,” said Medelský.

Private operators such as RegioJet and Arriva are also benefiting from increased passenger demand. RegioJet plans to expand its fleet this autumn with six new TRAXX MS3 locomotives, with another seven arriving next year. Arriva, according to spokesman Jan Holub, is seeing growth on routes where its trains compete effectively with car travel in terms of speed and service quality.

Despite growing leisure travel demand, the impact of the COVID-19 pandemic continues to shape commuter habits, with more people working from home or using video conferencing. Medelský noted a slight increase in the average travel distance, which rose by 2.4 kilometers to 48 kilometers.

In 2023, Czech rail carriers transported 184.6 million passengers, nearly ten percent more than in 2022, reaching 95 percent of the passenger numbers recorded before the pandemic in 2019.

Source: ČD and CTK

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