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INVESTMENT MARKET IN POLAND vs. EUROPE May 200 7. AGENDA. Evolution of Polish Investment Market to Date. 1. Rationale for investing in Poland (Retail, Industrial, Office). 2. Returns. 3. Recent Trends. 4. Investors in Poland. 5. Adding value and success in Polish retail market. 6. 7.

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agenda
AGENDA

Evolution of Polish Investment Market to Date

1

Rationale for investing in Poland (Retail, Industrial, Office)

2

Returns

3

Recent Trends

4

Investors in Poland

5

Adding value and success in Polish retail market

6

7

Case studies

evolution of polish investment market to date
Evolution of Polish Investment Market to Date

Investment Volume (mln €)

€ 2.5 bn

Retail

Industrial

€ 2.0

Office

€ 0.3 bn

€ 0.2 bn

€ 1.1 bn

€ 1.9 bn

Source: King Sturge Research

rationale for investing in polish retail
Rationale for investing in Polish Retail

Investment Yield (%)

Rent (€ / m2 / p.a.)

Warsaw

Source: King Sturge Research

rationale for investing in polish offices
Rationale for investing in Polish Offices

Investment Yield (%)

Rent (€ / m2 / p.a.)

Warsaw

Source: King Sturge Research

rationale for investing in polish industrial
Rationale for investing in Polish Industrial

Investment Yield (%)

Rent (€ / m2 / p.a.)

Warsaw

Source: King Sturge Research

shopping centre floorspace gla m 2 per 1 000 population by country in 2006
Shopping centre floorspace (GLA m2) per 1,000 population by country in 2006

m2

Source: Retail Research Forum

office floorspace gla m 2 by cities in 2007
Office floorspace (GLA m2) by cities in 2007

m2

Source: King Sturge Research

rationale for investing in poland
Rationale for investing in Poland

Rental growth in the all sectors

Growing spending purchase power

Business Process Offshoring

Increasing tenants diversification in regional cities

Dynamic development of regional cities and Euro 2012

Optimistic economy growth prospect

challenges faced by investors in poland
Challenges faced by investors in Poland

Lack of transparency and quality of data

Local approach vs. institutional experience

Immature market

Increasing competition

Little historic data

Lack of investment product

Yield levels and DSCR

yields in polish retail history forecast
Yields in Polish retail – history & forecast

Prime Retail, Warsaw

Prime Retail, Regional Cities

*

* Information at the end of 2006

Source: King Sturge Research

yields in polish office history forecast
Yields in Polish office – history & forecast

Prime Office, Warsaw

Prime Office, Regional Cities

*

* Information at the end of 2006

Source: King Sturge Research

yields in polish industrial history forecast
Yields in Polish industrial – history & forecast

Prime Industrial, Warsaw in-town

Prime Industrial, logistics locations

*

* Information at the end of 2006

Source: King Sturge Research

recent trends
Recent trends

New products

Newcomers

Smaller lot

sizes / portfolios

Forward fundings

/ purchases

Joint

ventures

Resales of

assets

investors in polish investment market
Investors in Polish investment market

Investor Type

Structure of the investor

Country of origin

Core Investors

Institutional Investment Funds

French

Austrian

German

Spanish

Opportunistic Investors

Property Companies

American

Irish

Dutch

UK

Small / Medium Asset Managers

Source: King Sturge

adding value
Adding value
  • Active asset and property management
  • Adding income
  • Repositioning / refurbishments
  • Building portfolio
  • Changes to tenant mix
  • Extensions
how can investors succeed in poland
How can investors succeed in Poland?
  • Know the market
  • Choose location
  • Target properties
  • Prepare clear strategy
  • Detailed due diligence
  • Active sourcing
industrial sale
Industrial Sale
  • Diamond Business Park Janki
  • Purchase price: $ 30,000,000
  • Size: 28,000 m2
  • Seller: AIG Lincoln
  • Buyer: Teesland / IOG
  • Main tenants: Hellmann, Coty
retail sale
Retail Sale
  • Promenada (Warsaw)
  • Purchase Price:€ 127,000,000
  • Size: 50,000 m²
  • Seller: Private Individual
  • Buyer: Dawnay Day Carpathian
  • Main tenants: Cinema City, Zara,

H&M, Alma, Empik

office sale
Office Sale
  • Euromarket (Kraków)
  • Purchase Price:€ 32,000,000+
  • Size: 16,000 m²
  • Seller: Invesco
  • Buyer: CIT Group
  • Main tenants: BP, Fortis Bank
retail schemes joint ventures
Retail schemes joint ventures
  • Focus Park
  • Total target lot size:€ 500,000,000 +
  • Partners: Parkridge CE Retail &

Morley Fund Management

questions
Questions

Michał Ćwikliński

Investment Department

King Sturge

T: +48 22 653 48 48

E-Mail: [email protected]

Al. Jana Pawła II 25

00-854 Warszawa

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