ManpowerGroup, a global HR consultancy, has leased 1,200 sq m of office space in Olivia Gate in Gdansk. The tenant was represented by global real estate services firm Cushman & Wakefield.
ManpowerGroup is the leader in HR solutions. It has operated in Poland since 2001 and has built a presence in 40 locations across the country. ManpowerGroup will focus on the growth of its Manpower and Experis brands in the new location, which will also be home to an international team delivering RPO (Recruitment Process Outsourcing) solutions. It provides services in contingent staffing and permanent recruitment, personnel consulting and career management. ManpowerGroup’s brand portfolio includes ManpowerGroup Solutions, Manpower, Experis and Proservia.
“The relocation of our offices in Tricity is our response to the growing needs to accommodate our growth. As we are a recruitment partner for multiple cutting-edge organisations, an attractive office serves an additional function - it helps reinforce our image as a dynamic and reliable partner for both our clients and job applicants,” says Tomasz Walenczak, Manpower Brand Director. “A multifunctional space in a convenient location also translates into a more comfortable work environment. Modern interior design items help us respond to diverse employee needs and meet their workplace expectations,” adds Tomasz Walenczak.
“Olivia prides itself on its community - a unique group of companies and people. Not only do they work in buildings located next to one another, but they also build business-to-business relations and engage in joint projects, sports leagues, a joint sailing club and hundreds of similar charitable, business and activity-related initiatives. In Olivia Business Centre we are united by our passion and this motto best reflects the relations we do our best to build at the site. Manpower superbly complements our community as they are an HR company and a very important service provider for other Olivia residents,” says Maciej Kotarski, Leasing Director, Olivia Business Centre.
“Cushman & Wakefield’s team was responsible for securing a new office location in Tricity for ManpowerGroup. The integration of both local and global brands of the company posed many challenges, but we are pleased that we fulfilled all the requirements of our client and guaranteed business continuity of all the teams. The continued presence of ManpowerGroup in Gdansk for years to come is confirmation that the Tricity labour market still has a lot to offer,” said Katarzyna Ciszewska, Junior Negotiator, Office Agency, Cushman & Wakefield.
Olivia Gate is part of Olivia Business Centre, the largest office complex in northern Poland, located at 472 Grunwaldzka Avenue. It offers more than 17,000 sq m of office space spread over seven floors, and a two-level underground car park with 365 parking spaces.
Source: Cushman & Wakefield
Patrizia Immobilien AG has sold Feniks office building located in Warsaw to South Korean Investor via Warburg-HIH Invest Real Estate. Savills advised the buyer in the transaction.
Wide-ranging Outlook 2020 report uncovers the issues facing investors and occupiers
From retail survival and sustainability investment through to the impact of automation and major political and economic change, Cushman & Wakefield’s new EMEA insight report explores the major themes the commercial real estate industry needs front of mind next year.
The Outlook 2020 report contains 11 chapters examining the major challenges and opportunities confronting the commercial real estate industry across the region.
Colin Wilson, Chief Executive Officer, EMEA, at Cushman & Wakefield, said: “Real estate isn’t immune to external factors, but it is the driver of its own destiny in many ways. It is as important to understand what demographics mean for the future of real estate and how a changing society fundamentally challenges the status quo as it is to understand absorption or yields.”
Katarzyna Lipka-Nawrocka, Manager of the Consulting and Research team in Cushman & Wakefield Poland, said: “The report outlines a number of interesting themes and trends which are becoming increasingly notable on the Polish real estate market as well. Changing demographics, new technologies, environmental protection and sustainable growth are just a handful of factors shaping the future of all sectors going forward. That’s why it is so important for both real estate investors and occupiers to understand the long-term impact of these issues and to reformulate their respective strategies.”
Key themes in the report include:
Service isn’t a choice, it’s a necessity that all investors in all sectors are having to rethink.
Andrew Phipps, Head of EMEA Research & Insight at Cushman & Wakefield, points out that technology fuels a shift in the use of physical space. “As space and technology become more entwined, we are seeing an increase in the amount of services people can use in a set space,“ he said. “With people requiring an ever-increasing level of flexibility in their everyday lives, they expect products and services to be provided on demand. Occupiers and landlords will need to adapt to those expectations to future-proof their businesses.”
Pay lip service to sustainability at your peril. Investors that don't act risk impacting value.
Phipps said: “People are leading the green revolution and ‘forcing’ businesses to make a change. Investors will further encourage market practices to integrate sustainability requirements into their decisions. From a real estate perspective, climate change will affect valuation, leasing and investment markets. An eventual downward repricing of higher-risk assets will be the market’s way of redirecting capital to locations and assets less exposed to climate risk.”
Formats will continue to shift as retailers demand more from investors.
“Retailers need an even deeper understanding of consumers’ behaviour and what drives their decision-making to provide them with the products, services and experiences they want to buy. This requires investment,” said Phipps.
The current retail revolution is not the first significant change that the sector has experienced as shopping centres and out-of-town supermarkets also fundamentally changed the way consumers shopped. This latest structural change increases the efficiency of retailing and provides greater choice for consumers in terms of when, where and how they shop.
Living formats will evolve with an increasing demand for inclusive, carefully curated communities where retirement and starters live side by side.
“Older generations could profit from new concepts created by and for the younger generation, such as intergenerational living or co-locating,” said Phipps. “The sharing economy could evolve into the idea of shared living, bringing heterogenous consumer bases together.”
Productivity measurement will become an increasing influence in the workplace as technology helps to shine a spotlight on performance.
Data collection on how office spaces are being used is nothing new, but Internet of Things technologies are transforming the visibility of operations and the knowledge that can be derived. This insight into the performance of buildings and workspaces enables inefficiencies to be tracked and understood, building expenses to be reduced and a better, more productive environment for occupiers to be created.
Source: Cushman & Wakefield
A growing group of business owners positively assesses Krakow's business potential - according to the report 'Krakow's investment potential'. Their scientific potential and the attractiveness of their living places attract the most to the capital of Lesser Poland (8.6 points and 7.7 points on a 10-point scale, respectively).
The report describing the Krakow market is part of the broader research project "Business Environment Assessment Study" carried out by Antal in cooperation with Cushman & Wakefield and Vastint. The respondents - persons managing Polish enterprises - were asked about places in Poland where they would be willing to locate their investments. Each of the regional cities has been listed at least once. Krakow was in fifth place among the most frequently considered places in terms of new investments.
Krakow is one of the leading research centers in Poland
Entrepreneurs are not afraid of the lack of appropriate human resources in the future. Educational potential understood as the availability of future employees took first place among the assessed aspects at 8.6 points. on a 10-point scale. This was due to two indicators - higher education facilities (8.8 points) and vocational education / secondary schools facilities (8.3 points). Almost 150,000 study in Małopolska students. At the same time, about 50,000 graduate from studies in Kraków each year. graduates - these are huge resources in the current labor market, which is struggling with a deficit of employees. The most specialists are educated in the field of engineering, finance and IT.
Krakow is the best place to live for future staff?
Krakow is primarily a culture of culture. The respondents considered the city's most important asset to be a rich cultural offer (8.9 points), which organizes the largest Krakow festivals and events in the fields of music, theater, film, fine arts and literature. The commercial offer (8.4 points) and security (8.3 points) as well as the educational offer (8.2 points) were also positively assessed. As part of the cultural offer, the largest Krakow festivals and events in the fields of music, theater, film, fine arts and literature are organized. Festivals that are worth mentioning are the Jewish Culture Festival, the International Music Festival in Old Krakow, the Street Theater Festival, the Divine Comedy International Theater Festival, the Polish Music Festival and Krakow Theater Miniatures.
Big competition is an advantage for the future investor
A company that thinks about the location of its business in a selected city always checks how much competition there is. In the case of Krakow, respondents rated this aspect at 7.3 points. The indicator was market saturation with competing companies, where 0 means no competition, and 10 - virtually all competing companies are present in the location.
Krakow is perceived as a favorable place to conduct business and investment activities thanks to numerous scientific and research units, a qualified workforce and successively implemented investments. There has been talk of market saturation for a long time, especially in the SSC / BPO sector, but subsequent successful business projects testify to the still existing development potential. This situation is also favored by significant relocation potential in the context of employees from across the western border, for whom Krakow is the first choice because of their high tourist position.
- Entrepreneurs are increasingly choosing Krakow as a place for future investments. The city's advantage is its well-qualified staff and many students who provide permanent access to educated employees. The dynamic business development and a large number of companies already present on the market translate into the growing staffing demand and intensive exploitation of the candidate's market. In addition to the supply of local graduates, interest in Krakow from candidates from other parts of the country is increasing. An important relocation argument is not only the cultural offer of the city, but the dynamically developing labor market - says Artur Skiba, President of Antal.
Over 1 million sq m modern office space
For several years, Krakow has been a leader on the office space market among regional cities in Poland. According to the Antal report - the availability of office space in Krakow was rated at 7.2 points. The study participants also distinguished high quality of available space (7.8 points) and easy access to the office by public transport (7.6 points).
- Over the past ten years, the Krakow office market has grown nearly five times. Companies planning development in the capital of Lesser Poland appreciate above all the availability of talent and the city's recognition as a top business destination. By the end of 2019, Krakow will offer over 1.4 million square meters, which confirms its dominant position on the regional office space market. New and planned office investments are being filled by new tenants. With their growing
Source: Cushman & Wakefield
Another excellent year for the investment market, record office lease transactions in Warsaw and the burgeoning growth of alternative asset classes - these are some of the Polish commercial property market highlights of 2019. Real estate advisory firm Savills forecasts that next year the market’s performance will depend on the health of the global economy, and key developments will include the completion of spectacular office towers and mixed-use projects.
Global real estate services firm Cushman & Wakefield has been appointed as sole letting agent for Riverside Park and Grójecka 5 in Warsaw, and Arkońska Business Park in Gdansk. Cromwell Property Group acts as the property manager for the buildings.
“Riverside Park, Grójecka 5 and Arkońska Business Park are well-established schemes on their respective local office markets. Each offers high-quality office space in well-connected locations and at competitive rents,” said Anna Górska-Kwiatkowska, Partner, Landlord Representation, Office Agency, Cushman & Wakefield.
Riverside Park, designed by AukettFitzroyRobinson, is an office complex located near the intersection of Łazienkowska Thoroughfare and Wisłostrada in Warsaw. Its two twin buildings offer 12,700 sq m of class A office space spread over six aboveground floors.
Grójecka 5, located close to the very centre of Warsaw, offers 11,000 sq m of class A office space and enjoys easy access to many bus and tramp stops, a station of the Warsaw Commuter Railway (WKD) and a regional rail operator Masovian Railways. Rondo Daszyńskiego metro station is one stop away from Grójecka 5. In addition to office space, the building also houses ground-floor services.
Arkońska Business Park is a modern complex of five class A office buildings with an area of 11,000 sq m, located in Gdansk, close to Lech Wałęsa Airport, the University of Gdansk, Hala Olivia and a line of the Pomeranian Metropolitan Railway. In addition to a 135-space car park, it offers 20 surface parking spaces. It was designed by APA Wojciechowski.
“We appointed Cushman & Wakefield as letting agent for our three office buildings as we share similar values and look forward to achieving the best possible outcomes. We also value the experience and full professionalism of Cushman & Wakefield’s experts who will make sure that each building maintains a high occupancy rate,” said, Anna Szymańska, Director of Office Leasing at Cromwell Property Group.
Cromwell Property Group is a real estate investor and manager operating on three continents, with a global investor base. As at 30 June 2019, Cromwell had total assets under management of €7.5 billion of across Australia, New Zealand and Europe.
In Europe, Cromwell manages €3.9 billion of real estate assets across a variety of funds and mandates, encompassing approximately 205 assets and 3,000 tenants. Cromwell’s strength lies in its real estate expertise drawn from 200+ people in 20 local offices across 12 European countries.
Source: Cushman & Wakefield
European office take up is forecast to reach 9.2 million sq m by the end of 2019, down marginally by 4% from 2018’s end year volume, according to Savills latest research. A shortage of good quality, available space across Europe’s CBDs is limiting occupiers’ choices as average vacancy rates dropped from 6.1% to 5.4% over the past 12 months.
Savills has been appointed a co-exclusive agent for leasing office space in Harmony Office Center II. The owner of the property has therefore begun the recommercialisation of the scheme.
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