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Office market taking off in Katowice

Nathan North 22 May 2020

Nathan North

Deputy editor

+48 22 356 25 22
nathan@eurobuildcee.com

Nathan is responsible for the English section of the magazine. Nathan was born in Manchester in the UK and completed a master’s degree in philosophy at the University of London. As well being responsible for editing the English section of ‘Eurobuild CEE’ magazine, he also contributes news from around Central Europe and articles on the investment and industrial markets and on architecture. In his free time he likes playing piano, drawing and cooking.

POLAND The leasing volume on the Katowice office market at the end of the first quarter came to more than 20,400 sqm – 42.3 pct of the annual average for 2015–2019, according to Cresa Polska’s ‘Occupier Economics – Office Market in Katowice in Q1 2020’ report.

The majority of the leases were new contracts (76 pct), with the remainder being expansions.

In the first quarter, the Face2Face A building (19,635 sqm, Echo Investment) was completed in the city, being the first stage of this investment. Further projects have been confirmed: GPP Eco Center (an extension of the GPP Business Park complex) and a building at ul. Bagnejna (Opal Maksimum Investment). The amount of office space in Katowice amounted to almost 548,000 sqm at the end of Q1,an increase of 5.5 pct over the year.

“Absorption between January and March was at 15,100 sqm, which is over 130 pct of the average for the previous four quarters. The high growth dynamics of the Katowice market is also confirmed by the above-average tenants' demand for new space seen over several quarters,” points out Bolesław Kołodziejczyk, the director of the market research and consulting department at Cresa Polska.

The largest contracts signed in Q1 2020 on the Katowice office market are two pre-leases in Face2Face B – Capgemini (11,000 sqm) and Honeywell (3,700 sqm) – as well as a new agreement signed by Sii in .Ktw I (3,100 sqm) .

The vacancy rate at the end of March came to 6.2 pct – a decrease of 2.6 pp since Q1 2019 and of 0.6 pp since the end of Q4 2019.

Monthly rents for higher-class office buildings in Katowice range between EUR 13.50–14.50 per sqm, while for lower-class buildings rents are around EUR 10–12.50.

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