{"id":1049,"date":"2019-08-07T04:35:11","date_gmt":"2019-08-07T04:35:11","guid":{"rendered":"http:\/\/ceo.com.pl\/en\/?p=1049"},"modified":"2019-08-07T04:35:11","modified_gmt":"2019-08-07T04:35:11","slug":"the-highest-appetite-for-office-space-in-krakow-wroclaw-and-tricity-93095","status":"publish","type":"post","link":"https:\/\/ceo.com.pl\/en\/the-highest-appetite-for-office-space-in-krakow-wroclaw-and-tricity-93095\/","title":{"rendered":"The Highest Appetite for Office Space in Krak\u00f3w, Wroc\u0142aw and TriCity"},"content":{"rendered":"

As at the end of the first half of 2019, the total office stock of Poland\u2019s core regional cities (Krak\u00f3w, Wroc\u0142aw, TriCity, the Metropolitan Association of Upper Silesia and D\u0105browa Basin, Pozna\u0144, \u0141\u00f3d\u017a, Szczecin and Lublin) was equal to over 5.3 million square metres. In the reported period, tenants leased a total of 305\u00a0800 square meters (+18% y\/y). Global real estate services firm Cushman & Wakefield has summarized the first half of 2019 on Poland\u2019s regional office markets.<\/strong><\/p>\n

\"Jan
Jan Szulborski, Consultant, Consulting and Research, Cushman & Wakefield<\/figcaption><\/figure>\n
    \n
  • Office space under construction in the regional markets amounts to almost one million square meters<\/li>\n
  • In the first half of 2019, the highest amount of new office space was delivered in Krak\u00f3w and Pozna\u0144<\/li>\n
  • Krak\u00f3w, Wroc\u0142aw and TriCity generated as much as 71% of the total demand in the regional markets in the first half of the year; the development activity was highest on these markets as well<\/li>\n
  • Investment volume in regional cities is on the rise, capitalization rates for prime office assets remain stable<\/li>\n
  • Approximately 0.5 million square meters of office space is available offhand in the eight largest regional markets<\/li>\n<\/ul>\n

    The total volume of investment transactions executed in regional cities in the first half of 2019 was worth \u00a0EUR\u00a0671.7 million and was 5% higher than in the corresponding period of 2018. Capitalization rates for prime office assets remain at 5.75% in Krak\u00f3w and 6% in Wroc\u0142aw.<\/p>\n

    Occupier activity was highest in Krak\u00f3w, Wroc\u0142aw and TriCity, their share in all executed transactions accounted for, respectively, 44%, 15% and 12%. Relatively high demand was also reported in Katowice and \u0141\u00f3d\u017a.<\/p>\n

    In the first half of 2019, new agreements executed in the eight largest office space markets accounted for over 59% of all transactions, and the share of renegotiations and expansions totalled, respectively, 29% and 11%. Moreover, pre-lease agreements accounted for more than 53% of the net demand.<\/p>\n

    The new office supply in regional markets totalled 241\u00a0300 square meters in the first half of 2019, which represents a 6% decrease as compared to the corresponding period of 2018. The largest projects completed in H1 2019 include Pozna\u0144 Business Garden (46\u00a0100 square meters), City Gate I in \u0141\u00f3d\u017a (25\u00a0500 square meters), Nowy Rynek B in Pozna\u0144 (23\u00a0500 square meters) and V.Offices in Krak\u00f3w (21\u00a0650 square meters). In the first six months of 2019, the highest amount of new office space was delivered in Krak\u00f3w (90\u00a0400 square meters) and Pozna\u0144 (77\u00a0400 square meters).<\/p>\n

    In the first half of the year, there were 81 buildings under construction in the eight largest regional markets, with a total area exceeding 985\u00a0100 square meters. The highest amount of office space under construction was located in Krak\u00f3w (272\u00a0200 square meters), Wroc\u0142aw (207\u00a0500 square meters) and TriCity (167\u00a0700 square meters).<\/p>\n

    The vacancy rate for all regional office markets amounted to 9.4% and was 0.1 pp higher than in the corresponding period of 2018. The vacancy rates in regional cities ranged from 5.3% in Szczecin to 12.1% in \u0141\u00f3d\u017a.<\/p>\n

    Rents remained stable in the first half of 2019 in most of the reported locations and ranged from EUR 12 to EUR 15 per sqm\/month.<\/p>\n

    Author:\u00a0<\/strong>\u00a0Jan Szulborski, Consultant,\u00a0<\/strong>Consulting and Research,\u00a0<\/strong>Cushman & Wakefield<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    As at the end of the first half of 2019, the total office stock of Poland\u2019s core regional cities (Krak\u00f3w, Wroc\u0142aw, TriCity, the Metropolitan Association of Upper Silesia and D\u0105browa Basin, Pozna\u0144, \u0141\u00f3d\u017a, Szczecin and Lublin) was equal to over 5.3 million square metres. In the reported period, tenants leased a total of 305\u00a0800 square […]<\/p>\n","protected":false},"author":1,"featured_media":800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8],"tags":[151,290,75,70,77,73,74,76,72,71],"class_list":["post-1049","post","type-post","status-publish","format-standard","has-post-thumbnail","category-real-estate","tag-cushman-wakefield","tag-jan-szulborski","tag-katowice","tag-krakow","tag-lublin","tag-lodz","tag-poznan","tag-szczecin","tag-tricity","tag-wroclaw"],"jetpack_publicize_connections":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/1049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/comments?post=1049"}],"version-history":[{"count":0,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/1049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media\/800"}],"wp:attachment":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media?parent=1049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/categories?post=1049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/tags?post=1049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}