Investors spent €234 million on office buildings outside Warsaw in H1 2015. Regional markets maintain their pace and the overall office investment volume outside the capital city might reach €750 million by the end of the year.
Warsaw, 10 August 2015 – The volume of investment transactions concluded on Poland’s major office markets outside Warsaw reached €234 million in H1 2015. In the corresponding period of 2014, volume hit the €220 million mark. Investor appetite remains high and the upcoming months for regional office markets look even more promising.
“Transactions worth a total of €385 million were concluded on the Polish office market in H1 2015. €234 million of this sum consisted of deals outside the capital city, meaning the regional markets' volume exceeded that of Warsaw and reached 59% share in Poland's office investment transactions. Kraków proved to be the regional star with the highest H1 office investment volume outside Warsaw”, says Sławomir Jędrzejewski, National Director, Office and Industrial Investment at JLL.
Investment transactions concluded on office markets outside Warsaw in H1 2015 included:
- Enterprise Park in Kraków (vendor: Avestus, purchaser: Tristan Capital Partners)
- Kazimierz Office Center in Kraków (vendor: GTC, purchaser: GLL)
- Green Horizon in Łódź (vendor: Skanska, purchaser: Griffin Group
- Baltic Business Center in Gdynia (vendor: BPT Optima, purchaser: Octava S.A.)
- West House 1B (part of West Forum) in Wrocław (vendor: Archicom, purchaser: GNT)
- Millenium Plaza in Katowice (vendor: Aviva, purchaser: Lone Star)
Tomasz Puch, Regional Director, Head of Office and Industrial Investment at JLL, summarizes: “After the excellent result of 2014 when €440 million was recorded on office regional markets, investors have maintained the pace in 2015. Factors such as a lack of large schemes available for purchase in Warsaw, strong tenant activity in the biggest agglomerations outside the capital city, availability of interesting office buildings and attractive yields have enticed investors to Kraków, Wrocław, the Tri-City as well as Łódź, Poznań and Katowice. Taking into consideration transactions awaiting finalization, and assuming that the ongoing negotiations will be concluded by year end, the overall volume of office investment transactions outside Warsaw can potentially reach even €750 million in 2015, up 70% on last year.”
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JLL is the undisputed leader in terms of strategic investment advisory services on office markets outside Warsaw. During the last few months, experts from JLL have been involved in numerous office investment transactions on regional markets such as: Dominikański in Wrocław (on behalf of the purchaser - Union Investment), Baltic Business Center in Gdynia (on behalf of the vendor – BPT Optima), Millenium Plaza in Katowice (on behalf of the vendor - Aviva), Kazimierz Office Center in Kraków (on behalf of the vendor – GTC), West House 1B in Wrocław (on behalf of the vendor– Archicom) and Andersia Business Centre (on behalf of the purchaser – PHN).