Polish Regional Prime Property
Sharow Capital’s superior transaction capabilities are brought to bear when acquiring prime regional CEE assets. The Sharow Capital team is highly experienced in investing in quality, well-constructed, long-term income assets within the tight and hard-to-enter Polish regional office market.
With the business services industry in CEE now growing faster than the market in India, Poland has become the strongest BPO, SSC and R&D location in the EU. A large number of these BPOs are located in the Polish cities of Krakow, Wroclaw, Lodz, Tri-City, Poznan and Katowice, as these regional centers offer superb international transport networks, strong site attributes and respected educational platforms supplying workers with second languages.
BPO office buildings must be developed to a high standard due to IT and occupational requirements and once occupiers are established, and have reached their operational headcounts (i.e. still not expanding rapidly), there is also a strong opportunity for successful ‘blend and extends’ with new 10 year lease agreements linked to CPI. The BPOs and SSCs are mainly ‘Fortune 500’ company operations, often with full PGs or BGs against the lease contracts and, due to the start-up costs, many major occupiers will sign 7 – 10 year lease agreements. Some SSCs and BPOs are already graduating to R&D and Engineering centers of excellence for their multinational businesses.