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Poznań has over 500,000 sqm of office space

Eurobuild CEE 25 March 2020
Poznań has over 500,000 sqm of office space
Jan Szulborski, a senior consultant at Cushman& Wakefield

POLAND Poznań’s office stock increased by nearly 18 pct to 564,800 sqm in 2019, according to Cushman & Wakefield. Over the period ten office buildings totalling 85,700 sqm were delivered to the market.

The largest completion was the second phase of Vastint’s Business Garden Poznań, which consists of five office buildings with a total area of 46,100 sqm. In addition, the first two buildings of the Nowy Rynek complex with a total of 30,700 sqm were also completed.

“Due to the relatively large volume of new office space coming on stream in 2019, most new projects have been put on hold in Poznań until the impact of the supply peak on the city’s office market is fully assessed,” says Jan Szulborski, a senior consultant at Cushman& Wakefield.

Office take-up hit 40,700 sqm in 2019, down by nearly 42 pct on 2018. New leases accounted for more than 62 pct of all deals, while renegotiations made up 29 pct and expansions 9 pct. The largest deals of 2019 included a new lease for 3,420 sqm in Business Garden Poznań, and 3,000 sqm leased in a renegotiation and expansion deal in Andersia Business Center. The third largest deal was a 2,790 sqm lease renewal by Arvatoin in the Globis Office Centre. Poznań’s vacancy rate currently stands at 10.8 pct, up by 3.6 pp over the last twelve months.

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