The odd 10 pct

In Poland there are only a few buildings in which developers intend to sell offices to individual tenants. This year we have spoken to many representatives of office developers representatives and asked for their views on this. “That’s not our cup of tea. Our goal is to sell the whole building at once, with no unnecessary hassle,” some have responded. Others want to make a profit from leasing, thus keeping control of the building as a whole. “The market is dominated by leasing offers, and only about 10 pct of the space is available for sale. Companies prefer leasing office space and are accustomed to doing business like that; they prefer to remain flexible. Moreover, companies simply might not have the available funds to buy an office,” says Ron Ben Shahar, a partner of Angel Poland Group, one of the investors behind the Ovo Wrocław project. And yet... What is then the advantage of such a scheme? “It is a profitable long-term project for investors