Marynarska Point I changes hands

Savills Investment Management has completed the disposal of Marynarska Point I, an office property located in Warsaw to an investment fund managed by Adventum Group. The parties have agreed not to disclose the purchase price.

Marynarska Point I is an office building located at 15B Postępu Street in the Mokotów district, the largest non-central business zone in the Polish capital. It offers in total 13,270 sq m of modern office space and retail area on the ground floor. For more than a decade it hosted such reputable companies as Generali or Nielsen. The property has been BREEAM In-Use Excellent certified.

“We are pleased to have completed the transaction with Adventum. The sale of Marynarska Point 1 is in line with our strategy to concentrate on core assets and, following an earlier sale of a building in Hamburg, marks the end of disposition activities for our European Office Fund,” – says Piotr Trzciński, Head of Investment, Savills Investment Management in Poland.

“The acquisition of the BREEAM Excellent In-Use certified Marynarska Point into the Adventum Penta fund underlines our commitment to ESG standards and the further expansion planned in Poland. We are pleased to have cooperated with Savills Investment Management on the transaction,” – says Kristóf Bárány, Partner, Adventum Group.

“Marynarska Point I is a greatly located office asset with significant value-add potential. The property benefits from extensive city infrastructural investments, including redevelopment of Marynarska Street. Mokotów’s business district has significantly increased its attractiveness to investors thanks to transportation improvements and changing landscape with more residential developments,” – says Marek Paczuski, Deputy Head of Investment, Savills Poland.

Savills Investment Management (Savills IM), an international real estate investment manager, was acting on behalf of Savills IM European Office Fund, an open-ended special fund for institutional German investors.

Adventum Group is an investment fund manager focused on Central European real estate investments, with approximately EUR 500+ million in assets under management in office and retail investments within Hungary, Poland and Romania.

Savills Investment Management was advised by Savills Poland, Dentons and ATA Tax, while Adventum Group was represented by BSWW,  MDDP and Avison Young.

REDD shares data with ShareSpace. New client of the platform

REDD Real Estate Digital Data (REDD), the largest database on commercial properties in Poland is sharing data with ShareSpace company. New REDD’s client is a platform helping companies to find the right office space.

“The REDD platform is the only provider of such commercial property data in Poland. We work with industry leaders who see data as a source of advantage and added value. We are delighted that our base can support ShareSpace, the platform connecting corporations with coworking centres. This is a company that is changing the commercial property market just like REDD. We share a similar DNA,”  says Piotr Smagała, Managing Director at REDD.

REDD and ShareSpace

As part of the cooperation, REDD provides ShareSpace with the continued access to 10 million pieces of data on office market.

“When a company is looking for an office, it needs concrete, solid data. If our platform didn’t keep them up to date, we wouldn’t be able to respond to the demand of customers who, after all, are looking for quick answers, seconds after entering the site. Our ShareSpace advisory team works in a similar way. They are also able to provide customers with information based on the latest data: availability of offices in a specific location, monthly charges, possibility of subletting, etc. This is possible, for example, thanks to the cooperation with REDD,” says Robert Chmielewski, co-founder & CEO ShareSpace, the platform helping companies to find the right office space.

“Thanks to automated REDD data integration, ShareSpace is provided with real-time data, which can have a significant impact on accelerating the commercialisation of office space,” adds Piotr Smagała from REDD.

“Our strength lies in the unique combination of tools built at the crossways of property industry and modern technology. Every day we collect and process millions of pieces of data on properties, rental space, transactions and market trends,” says Tomasz Ogrodzki, founder of REDD.

REDD cooperates with GUS

At the beginning of February, the REDD platform also signed an agreement with Statistics Poland (GUS). As part of the pilot project, REDD will provide GUS with analytical data to enable experimental statistical research aimed at monitoring changes taking place on the office property market in Poland.

 

REDD concludes a critical phase of studies on Space AI project

REDD Real Estate Digital Data (REDD) will unveil a Space AI tool for office building owners in the first half of this year to help reduce the negative effects of the COVID-19 pandemic that hit the market. REDD is a polish prop-tech start-up, which has built the largest database of office properties in Poland. The platform has been revolutionising the commercial property market for over two years.

Already in the testing phase, Space AI algorithms provide a forecast accuracy of 89 percent, thus showing the future demand for offices in Poland.

“For more than a year, we have been working on a tool based on artificial intelligence that will allow office building owners to effectively forecast their rents and adapt their strategies to the market situation. It will be a revolution to the market. Our aim is to halve the period in which offices remain vacant,” says Tomasz Ogrodzki, founder of REDD.

Today, as the REDD Index* shows, offices remain vacant in Poland for 296 days.

Vacant offices generate huge losses

REDD data show that in 2020, many offices were left vacant. Indicators show that at the end of 2020, almost 1.8 million square metres in completed buildings remained without a tenant, while another 740,000 square metres in buildings under construction had already been commercialised.

Vacant office space generates huge losses for property owners, which at the current level of vacant space can reach up to PLN 1 billion per year,” says Piotr Smagała, Managing Director at REDD.

“Artificial intelligence and big data are the strategic fuel of the commercial property market. As the largest data provider, who has collected over 10 million pieces of data in the last two years and monitors 2,000 office buildings, we have a real influence on the shape of this market,” adds Tomasz Ogrodzki, REDD co-founder.

In addition to Tomasz Ogrodzki, Piotr Smagała, who has been developing technology projects for property for over 10 years, is also responsible for Space AI project. In 2014 he founded “Talkin’ Things” startup. He is the winner of the “Impulse for Business” award for the most innovative start-ups.

The creators declare that the project is in its final phase, in which the artificial intelligence model is being optimised for new data that is constantly flowing into the REDD databases.

REDD cooperates with GUS

At the beginning of February, the REDD platform also signed an agreement with Statistics Poland (GUS). As part of the pilot project, REDD will provide GUS with analytical data to enable experimental statistical research aimed at monitoring changes taking place on the office property market in Poland.

REDD provides data for GUS. The agreement has been signed

REDD Real Estate Digital Data (REDD), the independent platform providing data on the commercial real estate market in Poland, has signed the agreement with Statistics Poland (GUS).  The platform, as part of the pilot project, will provide GUS with analytical data to conduct experimental statistical research in order to monitor changes on the office market in Poland. 

Bearing in mind the growing consumer demand for data, Statistics Poland is taking steps to increase the information capacity of its resources.

“One of the priority activities of Statistics Poland is the identification of modern, non-public information systems, which can be a source of data for research conducted within the Polish official statistics. Therefore, Statistics Poland is acquiring information from non-statistical databases on an increasing scale, analysing it for potential use in statistical research. Cooperation with REDD is another step in building statistics based on modern solutions. The datasets obtained will allow, for the first time, public statistics to undertake development activities aimed at developing experimental indicators for cross-sectional and in-depth analyses of the commercial office property rental market. Depending on the outcome of this work, datasets derived from the REDD platform may become an official data source for outcome information developed by public statistics in the area of commercial real estate market,” says Dominik Rozkrut, President of Statistics Poland.

Statistics Poland has been acquiring data from non-statistical data sources for many years thanks to cooperation with public administration units, as well as from private data providers. These include ministries, Social Insurance Institution (ZUS), National Health Fund (NFZ), Financial Supervision Authority (KNF), entities keeping official records or companies providing public utility services. From now on, it can also use the REDD platform data.

Data on office property rental marks a new chapter in official statistics

GUS collects data, and on their basis prepares outcome information concerning various areas of socio-economic life of the country, and in particular makes available studies on, among other things, the environment protection and condition, society and various aspects of the population’s life, as well as the functioning of various areas of the national economy, including the real estate market. Currently, the main source of information presented by public statistics on this market in Poland is data obtained from the public Register of real estate prices and values. The data provided by the REDD platform will open up new opportunities for the GUS statisticians to analyse the key area of commercial real estate – the office sector.

“This is an extremely important cooperation for the commercial real estate market in Poland and the broadly defined financial sector. The data we provide to the Statistics Poland fill an information gap regarding this sector of the economy, which over the last 30 years has developed into one of the most important branches of Polish economic life. We are proud to contribute to this landmark event for official statistics in Poland. Every month we update our database with over one million pieces of real estate market information stored in modern and secure data centres. This gives great opportunities for analysts, and for those using GUS reports and studies, it opens the way to broader knowledge of the impact of real estate on the development of the Polish economy”, says Piotr Smagała, co-founder and managing director of REDD.

The largest database in Poland

REDD Real Estate Digital Data is the largest database monitoring the office market in Poland. Analysts monitor 2,000 buildings located in 26 cities 24 hours a day, 7 days a week. Aggregation of data in the cloud enables fast and simultaneous processing of any amount of information as well as conducting unlimited operations on data.

REDD experts’ mission is to provide the most transparent and reliable data. Using technologically advanced tools, the REDD platform provides information on lease terms, current offer of commercial space for rent, rental rates or trends and forecasts on the situation on the commercial real estate market. Every transaction starts at the REDD platform.

Medicover Poland stays in the Equator II office building for longer

CPI Property Group (CPIPG) has extended its lease agreement with Medicover Poland, in the Equator II office building, a part of the Group’s portfolio.

Medicover Polska is a group of entities providing healthcare services, operating on the market for 25 years. Currently, Medicover provides its patients with full medical care, including outpatient services, laboratory and imaging diagnostics and dentistry in more than 120 own and 2700 affiliated facilities. The company has 6 hospitals and a network of pharmacies.

Medicover Polska will continue to have its headquarters in the Equator II office building, with an area of 6,200 sqm. The lease agreement has been extended by 8 years.

Located at Aleje Jerozolimskie, the Equator II office building was commissioned in 2011. It entered the CPIPG portfolio in January 2020. The building has class A space of 23,100 sqm. The 14 floors accommodate the headquarters of companies from the following sectors: finance, IT, publishing and real estate. Equator II is BREEAM In-Use certified at the Very Gold level.

“We are satisfied with the fact that the office buildings located in the Aleje Jerozolimskie belt, included in the CPIPG portfolio, enjoy a constant appreciation among current tenants. Extending the cooperation with Medicover Polska for another 8 years at Equator II is the best example that the spaces we offer meet the high requirements of even the most recognized companies on the market,” comments Agnieszka Ciupak, Head of Leasing Office at CPIPG Polska.

CPIPG currently owns 14 office buildings in Warsaw, with a total area of over 314,000 sqm.

The Skyliner reveals what is hidden behind the glass facade [PHOTO]

Flexible office space, the latest technological solutions and the icing on the cake, i.e. the two-storey Skybar located at a height of 165 metres – this is how the Skyliner looks like “from the inside”. The building slowly reveals what is hidden behind its glass facade. The author of the architectural design of the new Warsaw office building is APA Wojciechowski.

The facade works on Skyliner have already been completed, both on the podium and on the office tower. The scaffolding has disappeared, revealing a completely glazed building facade. Currently, the scaffolding is being dismantled at the construction site from the highest point of the Skyliner, the so-called “plume”, which is enclosed by glass and a reinforced concrete wall. These works are very complicated and require extremely precise execution due to the number of installations and the combination of facades and roof elements. An additional challenge is the shape of the roof, which is tilted at a very large slant. Due to the height of the building – 195 metres, the work on the top is carried out by alpine teams. Sanitation and installation works are also coming to an end.

There are four cooling towers on the roof of Skyliner, and the weight of the heaviest equipment transported to the highest levels exceeded 13.5 tonnes. 24 circulating pumps were installed in the engine rooms to ensure the cooling of the entire facility and the twenty-tonne equipment had to be placed with an accuracy of a few millimetres.

“We are currently in the process of approving the finishing works of the office part. We have also completed work in the toilet complexes and in the lift halls, where we can observe the combination of raw concrete with oak veneer. During the execution stage, we had to tackle the very high precision of the elements’ incorporation into the building in order to reflect the architects’ design goals as accurately as possible,” says Michał Mrozek, manager of finishing works at Warbud, the general contractor of the investment.

Warbud is also currently working in the main hall of the office building, where the floor is being laid, while outside the building, a stone is being laid around the property – it will soon become a part of the green-filled urban area, accessible to all city residents. The culmination and gem of the building is Skybar, located on two storeys at 165 metres high, with an amazing view of the Warsaw skyline.

“Skybar will be a public place for relaxation and special events. It will be used by both the users of the office building and the city residents. After the opening of Skybar, we will all admire the skyline of Warsaw on 4 sides of the world from 41st and 42nd floor,” says Andrzej Lany, Director of Asset Management at Karimpol Polska.

Thanks to the fully glazed facade of the building and the short distance from the core to the facade, the office building will offer potential tenants an excellent view of the city. A foretaste of Skyliner’s capabilities is a representative showroom located on the 23rd floor of the building. The showroom is equipped with an integrated control system, which enables to control lighting, temperature and window blinds.

“Skyliner’s office space has been designed to give future tenants the possibility of flexible arrangement. The lack of columns in the corners of the building will create spectacular corner offices, while the limited number of columns on the floors will allow for comfortable division of space into offices and open space. One of the elements which will distinguish the building will be its excellent daylight illumination. It has been achieved mainly thanks to the facade – full glazing from floor to ceiling and the height of rooms which will be 2.8 metres from floor to ceiling,” comments Andrzej Lany.

Konrad Bloch office building with certificate

The office building in Katowice was awarded the prestigious, international BREAAM International certificate at the Outstanding level, which is awarded to energy-efficient buildings where working comfort is prioritised.

The Konrad Bloch office building, which is part of the GPP Business Park complex, received the highest number of points in Poland in the certification process. “The idea of creating a unique place in terms of energy and environmental impact has been guiding us from the very beginning of developing the complex,” says Mirosław Czarnik, President of GPP Business Park S.A. “However, the construction of sustainable buildings is not only a matter of applying the latest technologies, it is primarily about greater comfort of work and lower operating costs for users,” he adds.

The BREAAM certificate is a multi-criteria tool for verifying the level of influence of a building on its surroundings and the use of the latest technologies and sustainable solutions. It is currently one of the most frequently used methods of evaluating buildings in terms of green solutions in Europe. It was created in 1990 by the British BRE organisation (Building Research Establishment). The criteria for the building evaluation include a number of aspects: land use, energy consumption, materials used, protection against emissions, waste and water and sewage management, innovation and facility management, as well as health and comfort of the user or transport. The Outstanding rating is the highest rating available in the BREEAM system. It is difficult to achieve due to the need to implement non-standard requirements in all categories. To receive such a high rating, more than 85% of all certification requirements must be met to ensure the health and well-being of the facility users and the environment.

“Having the BREAAM certificate with the highest possible rating definitely increases the value of the building. Many companies and corporations apply an environmental policy for their activities and are willing to locate their headquarters in a facility whose nature will be consistent with their approach. It is often even a requirement for the company’s headquarters to have such a certificate because it means greater comfort of work in the building,” says Mirosław Czarnik, President of GPP Business Park.

Completed in 2019, the Konrad Bloch building is the only plus-energy office building in Poland in the field of ventilation, heating and hot water preparation. This means that it produces more energy than it needs. It uses a system of trigeneration and heat pumps as well as photovoltaic panels to increase energy production capacity from renewable energy sources. The original BMS (Building Management System) controls blinds, lighting and ventilation of office space in one network. This allows to increase energy efficiency and adjust the system more closely to the needs of tenants. Thanks to these technologies and the use (at the construction stage) of improved materials with a lower heat transfer coefficient, it has been possible to reduce the costs of media usage by over 50%.

Active cooling and heating beams with individual temperature control are used in offices. Fresh air is provided by an air handling unit with heat and moisture recovery, which decreases the energy consumption. Moreover, the air handling unit keeps the air humidity within the range of 40-60%, which is most beneficial for healthy human functioning. In the process of air humidifying, silver ions are used to eliminate microorganisms, bacteria, viruses and fungi. The design of the ventilation and air-conditioning system for the Konrad Bloch building won the main prize of the PASCAL 2020 awards, granted by the Polish Ventilation Association.

“Research shows that such excellent air quality directly translates into the well-being of users, increasing their work efficiency by 20-40%. It has also been confirmed that appropriately purified and humidified air reduces morbidity and upper respiratory tract problems by up to 20-30%,” says Mirosław Czarnik. “Air quality in office spaces has been extremely important for us from the very beginning. During the pandemic, these indicators have additionally gained in importance as they directly translate into the health and safety of employees,” he adds.

The latest energy-saving technologies, high user comfort, reduced operating costs – could anything else be done to make the building greener? Yes. Bird and bat shelters and a hotel for insects have been installed in the complex. The roofs of the office buildings were covered with plants (sedums) and an apiary was built on the Konrad Bloch building.

“The BREAAM certificate at the Outstanding level is a great honour for us. It confirms our belief that in 2005 we made a good decision to transform the areas destroyed by industry into a modern zone of economic activity and innovation focused on technological development in line with the environmental trend. This trend-setting in energy-efficient construction gives satisfaction, but also a sense of responsibility. I would like to thank everyone who has worked hard for this success for several years,” says Mirosław Czarnik.

Modern office building to be built in Włocławek

A modern office building will be built in Włocławek as a part of the Fabryka Programme. The local government and the Operator ARP will be responsible for the project. On 1 October, the Włocławek city authorities and the company’s management signed a letter of intent.

This document is another milestone on the road to the implementation of the project, which is a modern office and service complex in Włocławek. A facility complying with high standards will be built as part of the Fabryka Programme aimed at activating the potential of Polish medium-sized towns.

“The agreement signed today gives me great satisfaction and shows that good cooperation between the government and local authorities is possible, especially in such an important aspect as improving the quality of life of Polish people. The main objective of the Fabryka Programme is to give a positive, pro-developmental impulse to cities that need new, attractive jobs in order to stop the outflow of their inhabitants. I hope that thanks to the determination of the local authorities and public support, Włocławek will get a facility which will become an important centre of activity for entrepreneurs from the whole region,” emphasised Anna Gembicka, Deputy Minister of Funds and Regional Policy.

In order to develop the office and service complex, a company will be established whose shareholders will be the local authorities and the Operator ARP sp. z o.o.. The state-owned company will provide financing for the investment, while the contribution of the local authorities will be the land on which the office building will be constructed.

– We offered two locations that meet the investor’s expectations. We wanted to select places where the construction of a modern office building will fit in with the spatial planning and at the same time meet logistic criteria. I hope that the investment will contribute to the development of entrepreneurship and will improve the attractiveness of the local labour market. As a local authority, we will make every effort to ensure that the task can be completed efficiently and on time – said Marek Wojtkowski, Mayor of Włocławek.

“I am pleased that Włocławek has joined the group of cities participating in the Fabryka Programme today. The Programme responds to the needs of cities which often remained in the shadow of the largest metropolises. By implementing the objectives of the Strategy for Responsible Development, ARP S.A. wants to direct the investment impulse also to smaller cities with large but unfulfilled potential. I am convinced that the first investment will entail further investments and open a completely new chapter in the socioeconomic development of Włocławek,” said Paweł Kolczyński, Vice-President of the Industrial Development Agency.

Facilities to be built under the Fabryka Programme must respond primarily to the expectations of modern business. This means that they must meet a number of criteria such as: attractive location, good communication links with other parts of the city, and availability of retail and service infrastructure.

“Until recently, the office market was perceived from the perspective of the largest Polish cities. Today, thanks to a coherent economic policy at the central level, this approach is changing. We are an entity that not only pursues business objectives, but combines them with our mission. We want to invest in Włocławek as it has great potential. It is the third largest city in the Kujawy-Pomerania Province, centrally located, adjacent to a large transport junction. This makes it worth investing here, it is worth building modern office space in which IT centres, outsourcing centres and hi-tech companies can be established. Their presence in the city will keep young, creative people there, and they will not have to emigrate for work to larger cities. We hope that the commercial success of our investment will attract private investors to the city,” noted Mariusz Domeradzki, President of the Operator ARP.

The Fabryka Programme is based on supporting medium-sized cities by building modern, perfectly equipped office and service buildings there. According to the “business attracts business” principle, both the presence of reputable companies and well-qualified staff will attract more companies, not only from the modern business services sector, but also those using the services of this industry.

Operator ARP is a subsidiary of Industrial Development Agency S.A. Its tasks include asset optimisation, but also effective land and facility management. The company’s offer includes attractive investment areas located in Częstochowa, as well as facilities all over Poland, including Gdynia, Bydgoszcz, Warsaw, Wrocław, Świdnica, Skarżysko-Kamienna and Gliwice.

REDD ALERT | THE AMOUNT OF SPACE FOR RENT HAS INCREASED IN POLAND

Recent weeks during the epidemic show that the office market in Poland is stable. However, REDD analysts note a slight increase in the space for rent. In the last week before Easter, 40,000 sqm were added to the market. On the other hand, the interest in information about office space in Poland has risen to record levels.

EQUATOR II IS NEXT OFFICE BUILDING OWNED BY CPI

CPI Property Group has acquired another Warsaw office building – Equator II. This is the fifth property after the announcement of the new investment strategy – in the fourth quarter of 2019 and at the beginning of 2020. CPIPG has already purchased office buildings in Warsaw with a total leasable area of almost 200,000 sqm.