Training Course Report: „Space commercialisation – how to make maximum profit?”

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The training course entitled „Space commercialisation – how to make maximum profit?” was held on 13-14th 2012 in Polonia Palace Hotel in Warsaw.

The training course organised by Informedia Poland aimed at increasing knowledge and improving practical skills of investors, developers, managers and companies, dealing with real estate commercialisation. Patronage over the event was taken by

The first part of the thematic block was held under the title “Renting a commercial property in practice - how to develop an effective strategy.”  The training course was led by two experienced practitioners, responsible for all activities connected with the process of renting a property in Jones Lang LaSalle – Ewelina Kałużna, Associate Director at Jones Lang LaSalle, and Tomasz Czuba, National Director Head of Office Leasing Department at Jones Lang LaSalle. Experts’ presentation was a prelude to a lively discussion between the speakers and participants. The participants had an occasion to systematise their knowledge of the process of renting office space, criteria for the assessment of commercial buildings, or BREEAM and LEED green certificates. Numerous important issues associated with real estate valuation, such as the quality and localisation of a property, were outlined during the training course.

Brian Burgess, Managing Director of Savills Poland – the top earning investment advice agency (4th in Europe and 5th in the world), shared his thirty years of experience at real estate market. Honorary Member of the Royal Institution of Chartered Surveyors (the title FRICS) focused on various aspects of selling a commercial property, including the organisation’s internal and external environment. Marcin Purgal, Senior Investment Consultant at Savills Poland, told the group to make an analysis of Warsaw’s office building for sale. The case study contained the following elements: SWOT analysis, risk assessment, and the development of real estate sales strategy.

The first day of the training course was ended with a speech given by an advocate, Michał Bieliński, from a law firm PETERKA & PARTNERS. The speaker gave a detailed analysis of rental agreement, listing the major elements which should be included in a properly prepared document. A lecture “How to write a commercial property rental agreement. Areas of negotiations and possible solutions” contained the practical aspects essential for a tenant. Michał Bieliński attempted to drew the participants’ attention to proper clauses in rental agreements which enable to avoid confusion and win any dispute in a court of law. He analysed the structure of a contract in detail and discussed basic notions used in such documents.

At the beginning of the second day, Piotr Majewski, Tax Adviser in Ożóg i Wspólnicy tax advisory firm, discussed the issue of tax optimisation when disposing of property and quitting investment,  and raised the issue of optimal investment structures, the use of personal companies and investment funds in tax planning, also the possibility of tax deferment in case of limited joint-stock partnerships.

Grzegorz Mroczek, Leasing Director at Caelum Development, on the example of chosen retail parks in Płock and Gorzów Wielkopolski discussed various aspects of space commercialisation and analysed numerous factors which determine rental rates, and indirectly -  return on investment. He presented parameters of shopping centres projects and their transformation. Sharing his practical knowledge, placed special emphasis on local market conditions, analysing the situation in the two already mentioned cities in terms of macro- and microeconomics.

Milena Sikora, Property Manager at Savills and  Diana Kozłowska-Filaber, Senior Accountant Specialist in Savills in the Property Management Department, gave a presentation entitled “How to effectively manage space maintenance costs?”. That part aimed at explaining the reasons for cost optimisation. The speakers described different approaches to expenditure control and tried to answer the question whether the crisis has passed.

Michał Oziębała, Chairman of the Board at Adept Investment LLC,  raised the issue of commercialisation process, comparing rental of retail and entertainment space in small towns and huge agglomerations. According to the current trends, he analysed the potential of different-sized urban areas. At the same time, he attempted to answer the following question: which market should we choose. The participants became acquainted with the benefits of tenant mix and went step by step through the commercialisation process.

The training course entitled „Space commercialisation – how to make maximum profit?” was directed not only to people who wanted to amass and systematise their knowledge, but mostly to market players who intend to maximally benefit from real estate commercialisation. Management, consulting, and law experts shared their years of experience and conducted the analysis on specific cases. The participants in turn learned how to effectively protect their interests and became acquainted with different companies’ approach to commercialisation.

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