A record-breaking performance?!

 It has been an extraordinarily successful six months for Warsaw offices. Tenants are signing contracts even more eagerly than a year ago, for both new sqm and the expansion of already occupied space. Anna Bartoszewicz-Wnuk, head of the analyses section of Jones Lang LaSalle claims that: “201,200 sqm office space has already been rented this half year, compared with the whole of the unusually successful 2005 when 372,900 sqm were rented.” King Sturge’s forecasts suggest the whole year will be even more successful. According to Tomasz Buras, head of the Office Agency at King Sturge: “The second quarter of the year is usually good as regards the amount of rented space, hence such a good result for the first half year. The next – holiday – quarter of the year is bound to be worse, but the final quarter, as every year, will be a period when much will have to be done to close transactions before New Year’s Day. I am sure the 2006 rental level will substantially exceed 400,000 sqm, to set a new record.”

Lots of big ones

Inflexible lessors

Still smelling of paint

  – also in Mokotów were opened.

  Belgian developer Ghelamco. Elsewhere Liebrecht & Wood is to open a fourth buildingFor the sake of comparison – a total of 118,600 sqm new office space was delivered to the market throughout the whole of 2005.

Developers are not putting their feet up and are instead drafting new projects. Helmut Tomanec, managing director of Immoconsult, is sure the demand for office space in Warsaw city will be around 700,000 sqm in 2006-2007. Investments currently under development will meet only 70 pct of the demand, which means prosperous times for developers investing in the Warsaw market are just around the corner. Andrzej Brochocki is not so enthusiastic about the planned projects: “To judge by developers’ forecasts, the total office and warehouse investments coming onto the market in Mokotów, for instance, will amount to 1 million sqm, which means that the market will become saturated in 2009 – at least so I think. For the moment, however, the location is definitely attractive to tenants,”

Outside Warsaw

Nothing much going in Łódź

Shopping around

   for EUR 169 mln. The following also changed hands: Trinity Park I, Raiffeisen Business Centre, Nordic ParkEwa Andrzejewska