{"id":582,"date":"2018-02-07T10:08:58","date_gmt":"2018-02-07T10:08:58","guid":{"rendered":"http:\/\/ceo.com.pl\/en\/?p=582"},"modified":"2018-02-07T10:08:58","modified_gmt":"2018-02-07T10:08:58","slug":"comes-offices-warsaw-attractive-regions-10612","status":"publish","type":"post","link":"https:\/\/ceo.com.pl\/en\/comes-offices-warsaw-attractive-regions-10612\/","title":{"rendered":"When It Comes to Offices, Warsaw Is More Attractive Than the Regions"},"content":{"rendered":"<p><strong>Walter Herz analysts inform that in 2017, the demand for office space in the largest agglomerations in the country reached almost 1.5 million sq m. In Warsaw, more offices was leased than in all regional markets combined<\/strong><\/p>\n<p>In 2017, approximately 1 475,000 sq m of office space was leased in the nine largest cities in Poland (Warsaw, Crac\u00f3w, Wroc\u0142aw, the Tri-City, Katowice, Pozna\u0144, \u0141\u00f3d\u017a, Szczecin and Lublin). According to Bart\u0142omej Zagrodnik, CEO of Walter Herz, Warsaw turned out to be unrivaled when it comes to demand, with transactions for over 800 thousand sq m of offices. In Cracow, lease agreements for over 200 thousand sq m of offices have been signed, and about 170 thousand sq m of offices found their tenants in Wroc\u0142aw.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ceo.com.pl\/en\/comes-offices-warsaw-attractive-regions-10612\/#Over_96_million_sq_m_of_office_space_in_Poland\" >Over 9.6 million sq m of office space in Poland<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/ceo.com.pl\/en\/comes-offices-warsaw-attractive-regions-10612\/#Less_and_less_vacant_space\" >Less and less vacant space<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/ceo.com.pl\/en\/comes-offices-warsaw-attractive-regions-10612\/#Demand_for_large_space\" >Demand for large space<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/ceo.com.pl\/en\/comes-offices-warsaw-attractive-regions-10612\/#Growing_interest_in_investments_on_the_Polish_market\" >Growing interest in investments on the Polish market<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Over_96_million_sq_m_of_office_space_in_Poland\"><\/span>Over 9.6 million sq m of office space in Poland<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to specialists\u2019 calculations, a total of over 740 thousand sq m of office space emerged in the major agglomerations in the country last year. The resources of the Warsaw market were enlarged by 280 thousand sq m of offices, and in over eight regional cities, by over 460 thousand sq m of space, the majority of which is located in Cracow &#8211; about 193 thousand sq m.<\/p>\n<p>According to Bart\u0142omiej Zagrodnik, the largest cities in Poland are currently offering a total of approximately 9 615 000 sq m of modern office space. &#8211; At the end of last year, there were 5,230,000 sq m of offices in Warsaw, and the regions disposed of approximately 4\u00a0385 000 sq m of space. Nearly half of the regional office capacity falls onto Cracow and Wroc\u0142aw markets. Cracow offers a volume of 1 100 000 sq m of modern office space, and Wroc\u0142aw \u00a0has 907 thousand sq m of offices. \u2013 enumerates Bart\u0142omiej Zagrodnik<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Less_and_less_vacant_space\"><\/span>Less and less vacant space<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The lowest vacancy rate, 8.5 per cent, is in the Tri-City, with several large projects currently under construction, and a total of office resources reaching almost 700 thousand sq m. According to Walter Herz data, a similarly low vacancy rate is also characteristic of the Pozna\u0144 market. In Warsaw, which currently has an unusually large amount of emerging office space &#8211; about 780 thousand sq m, the vacancy rate dropped to 11.5 per cent.<\/p>\n<p>Bart\u0142omiej Zagrodnik believes that this year, we will still be able to observe a decrease in the amount of free space on the Warsaw office market, in connection with a low level of new supply. In his opinion, it will bring further stabilization of rental rates and less opportunities to negotiate prices.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Demand_for_large_space\"><\/span>Demand for large space<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the largest transactions carried out in 2017 on regional markets, the advisors enumerate a confidential tenant agreement for over 25 thousand sq m in Pozna\u0144\u2019s Nowy Rynek and the pre-lease of over 15 thousand sq m in Business Garden II in Wroc\u0142aw by Credit Agricole.<\/p>\n<p>Whereas last year in Warsaw, Millenium Bank has renewed the contract for over 18 thousand sq m of space in Harmony Office Center. The similar amount of space was leased by Citi Service Center Poland in Generation Park X. J.P. Morgan Poland decided to lease about 15 thousand sq m in Atrium Garden. Moreover, Alior Bank in \u0141opusza\u0144ska Business Park and AstraZeneca pharmaceutical concern in Post\u0119pu 14 building, have leased space exceeding 13 thousand sq m.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Growing_interest_in_investments_on_the_Polish_market\"><\/span>Growing interest in investments on the Polish market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Polish commercial real estate market was more popular among the investors in 2017 than in the previous year. The value of concluded investment transactions reached almost EUR 4.7 billion, including EUR 1.6 billion the office segment, which constitutes 33 per cent of the investments. The commercial sector was the most popular among the investors, with about 40 per cent of value placed in it.<\/p>\n<p>According to Walter Herz, office real estate in the center of Warsaw are currently valued at the capitalization rates of 5.25-5.50 per cent, and outside the central area 7-7.50 per cent. On the regional markets, the capitalization rates of the best office facilities range from 6.50 -7 per cent.<\/p>\n<p>&nbsp;<\/p>\n<p>Author: Walter Herz<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walter Herz analysts inform that in 2017, the demand for office space in the largest agglomerations in the country reached almost 1.5 million sq m. In Warsaw, more offices was leased than in all regional markets combined In 2017, approximately 1 475,000 sq m of office space was leased in the nine largest cities in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":470,"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":[2848,2849,2850,119,2851,2852,75,77,73,64,74,76,133,106,82,71],"class_list":["post-582","post","type-post","status-publish","format-standard","has-post-thumbnail","category-real-estate","tag-alior","tag-alior-bank","tag-astrazeneca","tag-bartlomiej-zagrodnik","tag-citi","tag-citi-service-center-poland","tag-katowice","tag-lublin","tag-lodz","tag-poland","tag-poznan","tag-szczecin","tag-tri-city","tag-walter-herz","tag-warsaw","tag-wroclaw"],"jetpack_publicize_connections":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/582","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=582"}],"version-history":[{"count":0,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/posts\/582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media\/470"}],"wp:attachment":[{"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/media?parent=582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/categories?post=582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceo.com.pl\/en\/wp-json\/wp\/v2\/tags?post=582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}