PL

No serious challengers to Warsaw office market

Office & mixed-use development
POLAND “In terms of office demand, the Warsaw area has outpaced other office locations in the country.

Over 820,000 sqm of office space was leased in the capital last year, which is much more than in all the regional markets together,” reports Walter Herz. Kraków saw the second highest office demand with over 200,000 sqm leased. In Wrocław, the demand for offices came to over 170,000 sqm last year and contracts for 113,000 sqm were signed Tri-City. 78,000 sqm of office space was leased in Poznań, 59,000 sqm in Łódź and 31,000 sqm in Katowice. According to the latest Walter Herz report, the Warsaw market at the end of last year has 5.28 mln sqm of modern office stock. Over 2017, 27 buildings were delivered in Warsaw with over 275,000 sqm gla. The Mokotów region accounted for the largest share of this new space, with 72,000 sqm delivered in six office buildings . About 780,000 sqm of offices are currently under construction in Warsaw. Walter Herz claims that due to the high tenant activity in the capital, the vacancy rate decreased last year to stand at 11.6 pct at the end of 2017. Last year set a record in terms of new supply in Kraków, which increased its office stock by 193,000 sqm to a total of over 1.1 mln sqm, making it the leading regional city office market. Currently over 300,000 sqm of office space is under construction in the city. Over the same period, 54,000 sqm of new office space was delivered in Wrocław with the total stock rising to over 906,000 sqm. About 230,000 sqm of office space is currently under construction. According to Walter Herz, the Łódź office market, which is currently growing fast, deserves special attention. About 115,000 sqm is under construction in the city and over 74,000 sqm of office space was delivered last year, taking the city’s total stock to 438,000 sqm. The lowest vacancy rate (8.5 pct) is in the TriCity, where last year new supply came to 66,000 sqm. At the end of 2017, supply in this sector approached 700,000 sqm with 175,000 sqm under construction. The Poznań office market has 456,000 sqm of modern space and a further 100,000 sqm under construction. In 2017, only 26,000 sqm was completed in the city. In consequence of the low level of supply, the vacancy rate is also low at 8.6 pct. The largest deal nationwide of 2017 was a pre-lease signed in Poznań for over 25,000 sqm in Nowy Rynek, which is currently under construction. Katowice, which ranks as the fourth largest regional market in Poland, overtook Poznań in terms of total stock, despite only 17,500 sqm of new space being delivered to the market. The total office supply in Katowice came to 461,000 sqm at the end of last year with 60,000 sqm of office space still in the pipeline. Monthly rental rates in regional cities range from EUR 12 to EUR 17.5 per sqm while in Warsaw they range between EUR 11.5 to EUR 23 per sqm. You can read the full report on the Walter Herz website.

Latest news

ESG

Poland Entire portfolio is green

schedule 28 March 2024
Opr./edited by ANZ

A further 15 buildings owned by Hillwood Polska have been awarded BREEAM In Use certification at the Excellent level. The accreditation now covers the company's entire portfolio.

ESG

Romania U-Center 2 is WELL

schedule 28 March 2024
Opr./edited by ANZ

Forte Partners has announced WELL Health-Safety Rating certification for U-Center 2, the office building the developer put into operation in September 2023.

Warehouse & industrial

Poland Panattoni has secured millions

schedule 28 March 2024
Opr./edited by JC

Panattoni has won financing for the development of its latest development in Western Pomerania. The EUR 20 mln loan was granted by mBank.

Retail & leisure

Poland Smart Parks are springing out

schedule 28 March 2024
Opr./edited by JC

Smart Park Poland and RG Leasing announced the latest progress in the implementation of their investment projects. After last year's openings in Mława and Wąbrzeźno, more locations are coming up.

Warehouse & industrial

Poland Malaysian debut in Poland

schedule 27 March 2024
Opr./edited by JC

Malaysian retail chain, MR D.I.Y., begins operations in Polish market at Hillwood Zgierz I. The company has leased nearly 5,000 sqm at the park to set up its first logistics center in Central Europe.

Warehouse & industrial

The Czech Republic For the first time in the Czech Republic

schedule 27 March 2024
Opr./edited by ANZ

The 7R Group has been granted permission to build a warehouse in the Czech Republic. This is the first foreign project for the company, which has been growing dynamically in Poland for 15 years. The value of the investment is more than EUR 30 mln.

Warehouse & industrial

Poland Outsourcing for e-commerce in Syców

schedule 26 March 2024
Opr./edited by ANZ

Logistics operator 3LP, specialising in automated outsourcing of logistics services for e-commerce sector, is opening its next location. The company has leased 17,000 sqm in the Hillwood Syców logistics park.

Property and Facility Management

Romania Joint venture management for Romanian portfolio

schedule 26 March 2024
Opr./edited by ANZ

M Core announces the launch of ‘Square 7 part of M Core’, a strategic joint venture between M Core and Square 7 Properties, to establish a new management platform for the M Core portfolio of 25 retail parks across Romania.

ESG

Albania First BREEAM certificate in Albania

schedule 26 March 2024
Opr./edited by JC

Park Avenue Tower in Tirana has become the first Albanian office project to secure BREEAM Design Stage certification with an Excellent rating.

Office & mixed-use development

Poland Trident is staying in Tricity

schedule 26 March 2024
Opr./edited by JC

Trident BMC, which cooperates with maritime, shipbuilding and offshore industry clients, will continue as a tenant in C200 Office. It has renewed and expanded its lease to occupy more than 2,200 sqm of office space.

Office & mixed-use development

The Czech Republic Regional market increasingly attractive

schedule 25 March 2024
Opr./edited by ANZ

According to the latest survey by Colliers, regional cities in the Czech Republic are becoming an increasingly interesting alternative for investors looking for cheaper, yet high quality, office space outside of Prague.

Office & mixed-use development

Poland Hybrid is still going strong

schedule 25 March 2024
Opr./edited by JC

After four years of a pandemic-induced disruption it is now clear that hybrid working is here to stay. New research from Cushman & Wakefield has found that 27 pct of Polish people combine in-office attendance with home office.

Warehouse & industrial

Romania Yusen Logistics chooses CTPark Bucharest

schedule 25 March 2024
Opr./edited by ANZ

CTP has agreed a five-year lease for 19,000 sqm of warehouse space at CTPark Bucharest in Romania to Yusen Logistics, a global logistics provider.

Warehouse & industrial

Poland Panattoni sells in Wrocław

schedule 25 March 2024
Opr./edited by ANZ

Panattoni has finalised the sale of a centre in Lower Silesia. An international real estate company has purchased Panattoni Park Wrocław West Gate with a total area of 46,900 sqm.

Office & mixed-use development

Poland Quorum A is completed

schedule 25 March 2024
Opr./edited by ANZ

Cavatina Holding has obtained an occupancy permit for the Quorum A office building, one of the five buildings forming a multifunctional development on the banks of the Odra River. The building provides the Wrocław office market with 18,000 sqm of space spread over 12 storeys.

Property and Facility Management

Romania Cushman rules at Expo Business Park

schedule 25 March 2024
Opr./edited by JC

The Cushman & Wakefield Echinox has been appointed to manage the Expo Business Park office project, located in the Expozitiei area of Bucharest. As a result, the portfolio managed by the company’s asset services department reached almost 500,000 sqm.

Corporate social responsibility

Poland Not only for horses

schedule 22 March 2024
Opr./edited by JC

Panattoni BTS and Commercecon together support the establishment of the second Centaurus Foundation centre in Poland to help horses and other animals.

Eurobuild FM

Cannes / Poland Big business under the palm trees (ep. 3)

schedule 21 March 2024
Eurobuild CEE

We invite you to the third and last episode of the special podcast from Cannes! Today, three different views on different market segments, united by one approach – quite healthy optimism!

Material partner

Cannes New opportunities emerge in uncertain times

schedule 21 March 2024
Eurobuild CEE

Over 20,000 delegates representing 90 countries gathered in Cannes for the 34th edition of MIPIM, the global urban festival that brings investors, political leaders and the real estate community together to facilitate relationships and find solutions to the challenges facing the built environment.

Office & mixed-use development

Germany Die Bayerische chooses The Source 

schedule 21 March 2024
Opr./edited by ANZ

The Empira Group has secured the insurance company die Bayerische as a long-term tenant for 11,550 sqm of commercial space in the office complex The Source, currently being modernised in Munich.

Latest in Office & mixed-use development

schedule 26 March 2024

Trident is staying in Tricity

Trident BMC, which cooperates with maritime, shipbuilding and offshore industry clients, will continue as a tenant in C200 Office. It has renewed and expanded its lease to occupy more than 2,200 sqm of office space.

schedule 25 March 2024

Regional market increasingly attractive

According to the latest survey by Colliers, regional cities in the Czech Republic are becoming an increasingly interesting alternative for investors looking for cheaper, yet high quality, office space outside of Prague.

schedule 25 March 2024

Hybrid is still going strong

After four years of a pandemic-induced disruption it is now clear that hybrid working is here to stay. New research from Cushman & Wakefield has found that 27 pct of Polish people combine in-office attendance with home office.

schedule 25 March 2024

Quorum A is completed

Cavatina Holding has obtained an occupancy permit for the Quorum A office building, one of the five buildings forming a multifunctional development on the banks of the Odra River. The building provides the Wrocław office market with 18,000 sqm of space spread over 12 storeys.

schedule 21 March 2024

Die Bayerische chooses The Source 

The Empira Group has secured the insurance company die Bayerische as a long-term tenant for 11,550 sqm of commercial space in the office complex The Source, currently being modernised in Munich.

schedule 21 March 2024

11,600 sqm leased in Berlin

Sonar Real Estate, acting in its capacity as asset manager, has let around 11,600 sqm of office space in three properties in Berlin. Five leases have been agreed.

schedule 20 March 2024

Clyde & Co chooses V Tower

The British law firm Clyde & Co has commenced operations in Poland and established its office in the V Tower building in Warsaw. The company has already acquired space on the 10th floor of the building, which Cornerstone Investment Management is currently renovating.

schedule 18 March 2024

Polcast Media moves into Trinity One

Polcast Media Group, the owner of Polonia 1 television, one of Poland's oldest commercial television stations, has recently secured a lease for circa 500 sqm in Trinity One office building located in Warsaw's Służewiec district.

schedule 18 March 2024

Loftmill makes its debut in Silesia

The Loftmill label has joined the tenants of the .KTW I office building. Owned by Rise.pl, the company offers serviced offices and coworking space.

schedule 18 March 2024

Another tenant on board at Diuna

Warsaw's Diuna office complex from the Syrena Real Estate portfolio has welcomed a new tenant, JDE Peet's. The company's new 900 sqm office was designed by BIT Creative.

schedule 14 March 2024

Green light for Millennium Gardens

Revetas Capital and TriGranit have officially secured the occupancy permit for the second phase of Millennium Gardens in Budapest.

schedule 14 March 2024

Timpuri Noi Square twice as big

Vastint Romania is starting phase II of the Timpuri Noi Square project in Bucharest. After obtaining the necessary permits, the developer will construct two new office buildings, which will increase the area of the entire complex to more than 100,000 sqm.

schedule 13 March 2024

Konika Minolta stays at The Park Warsaw

Konica Minolta Business Solutions has extended its 3,000 sqm office lease at The Park Warsaw complex in the capital's Włochy district. The company will remain in the location for another five years.

schedule 11 March 2024

Historical building with a current shine

Zeitgeist Asset Management obtained new prestigious tenants. The international law firm CMS and the European Investment Bank have rented office space in the newly renovated Palác Dunaj building in the historical centre of Prague.

schedule 11 March 2024

Doctors stay in West Gate

Enel-med, a network from the medical services industry, has extended its lease at Wrocław's West Gate building, owned by Globalworth, for another ten years. The tenant will expand dental and rehabilitation services for its patients.

schedule 08 March 2024

Emonika takes off in Ljubljana

Mendota Invest has received the final building permit for the construction of Emonika, an urban complex that will include a shopping centre, business premises, hotels, and apartments. The estimated value of the entire investment is more than EUR 350 mln.

schedule 06 March 2024

A breath of fresh air for Tryton

Muehlhan Wind Service has opened its new office on the fourth floor of the Tryton Business House building in Gdańsk.

schedule 04 March 2024

The Warsaw Park is almost full

The Park Warsaw gained new tenants during Q3 and Q4 2023 and renewed contracts with existing partners. The office campus, which is managed by White Star Real Estate, is currently 90 pct leased.

schedule 04 March 2024

MSC has chosen Waterfront

MSC Poland, which represents MSC Mediterranean Shipping Company, has leased 1,545 sqm of office space in Gdynia Waterfront. The tenant will move into its new office in Q4 2024.

schedule 04 March 2024

Educational projects in Silver Forum

Three new tenants from the science and education sectors have chosen Wrocław's Silver Forum office building for their premises. The largest space, almost 2,000 sqm, will be occupied by the private high school Liceum Navigo Wrocław.

Edition 3 (286) March 2024

Latest comments

Categories