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Office & mixed-use development
When companies are looking for a new office, they no longer expect just to have a good location, an attractive level of rent or hi-tech installations. Having hotel accommodation handy is increasingly being added to their list of requirements. There are fewer sites available for new projects, so developers are now building mixed-use projects where offices and hotels go hand-in-hand.
According to the Polish Chamber of Real Estate (PINK), the modern office space stock in Warsaw amounted to almost 5.6 mln sqm at the end of December 2019. Since the beginning of that year, almost 162,200 sqm of office space has been completed in the Polish capital. Meanwhile, the total supply of modern office space on the country’s eight major regional markets amounted to slightly more than 5.6 mln sqm. We are very much still living in the golden age of the Polish office market… How has the hospitality sector been benefiting from all this office development? According to CBRE (citing data provided by Hotstats), the demand for rooms is being driven primarily by individual guests, who make up 55 pct of the total occupancy. Hotels with conference and banqueting facilities tend to fill more than 30 pct of their available rooms exclusively with those taking part in events held inside the hotel. Corporate guests make up around 12 pct of occupancy and organised groups of tourist
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