POLAND - CB Richard Ellis Group Inc. (CBRE) has appointed Charles Wardroper as the managing director of its business in Poland.
Wardroper, who for the past two years has been a managing director for CBRE UK's North-east regional business, will be responsible for continuing to build the Polish business, expanding its service capability and growing market share.
He will replace former managing director, Nigel Wade, who left at the end of November 2008 following a disagreement with the Europe, Middle East and Africa Board about the business strategy for Poland.
Andreas Ridder, chairman of Central and Eastern Europe at CBRE, said he expects to see "continued appetite" from foreign investors and occupiers looking to develop their business interests in the country.
Wardroper believes Poland's economy will slow down but remain healthy in 2009 and he is confident infrastructure investments such as roads and rail links will continue to be attractive investments.
"Deteriorating economic conditions inevitably represent challenges for real estate owners and occupiers but, with the right advice, they can also represent opportunity."
Wadroper is to assume his position at the Warsaw office in mid-January 2009, but is already taking part in board meetings.
He has held various senior positions in office agencies for CBRE and has been with the firm seven years and has over 20 years of commercial property experience in total.
CBRE Poland established its first office in Warsaw in 2000 and now has over 100 real estate advisers across the country.
In the third quarter of 2008, CBRE Poland acted as consultant in the sale if GE Real Estate's 37,000sq m ‘3 Stawy' Shopping Centre for €95m to Union Investment Real Estate AG.
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