TriCity increasingly strong

During H1 2015, a total of over 53,000 sqm of office space has been leased in the Tri-City, which now is the third biggest market in the country in terms of take-up. As of the end of H1 2015, the total TriCity office stock amounted to 526,000 sqm, which placed the market on fourth position in Poland in terms of size, following Warsaw (4.53 mln sqm), Kraków (689,000 sqm) and Wrocław (641,000 sqm). The market has increased twofold since 2008. Gdańsk, the major office hub in the agglomeration, offers 351,000 sqm of modern space within office clusters: Oliwa - Wrzeszcz and the South-West part of the Gdańsk region near the airport and the WZ route. Office stock in Gdynia has now hit close to 140,000 sqm, mainly in the dynamically developing area adjacent to ul. Łużycka. Sopot remains a tourist destination with nearly 35,000 sqm of office space stock.

In Q2 2015 alone, our TriCity team was involved in lease transactions in excess of 11,000 sqm of office space. Over the first half of 2015, experts from JLL’s TriCity office had the pleasure of advising such global companies as Bayer, Wipro, Transcom, Sony PE, Ericsson and Willis. We forecast that the tenant demand in the second half of the year will be as high as in H1. TriCity is proving to be an excellent location for companies from the business services sector.

Also, the launch of Pomeranian Metropolitan Railway (PMR) in Q3 2015 will indirectly support the development of the business services sector by increasing TriCity’s availability for staff from adjacent cities as well as activating less available areas that are currently predominantly residential investments. This will result in the growth of the region’s attractiveness especially for companies from this sector, for which opportunities on the labour market is one of the most significant criteria when selecting a location.

Currently, there is over 130,000 sqm of office space under construction in TriCity. 100,000 sqm of this stock will be commissioned for use by the end of H1 2016. Office projects are located mainly along TriCity’s main communication routes. The development of PMR has enhanced the attractiveness of existing office districts such as: the areas adjacent to the airport (campus of the Intel company) and Gdańsk – Wrzeszcz (Neptun project) as well as Redłowo in Gdynia (the Tensor office complex).

TriCity office tenants can count on favourable rent rates (EUR 12.75-13.5 per sqm a month) when compared to other major office markets in Poland. Furthermore, they can consider many incentives offered by developers such as rent free months, fit-out in the rent, the company’s logo exposure on the building’s roof without additional payments as well as amenities for cyclists or relocation budgets etc.