PL

Warsaw office market stock now over 6 mln sqm

Office & mixed-use development
Eight buildings totalling over 167,000 sqm were delivered to the Warsaw market in the first quarter of 2021, according to figures from JLL.

As a result, the total supply of modern office space in the city is now more than 6 mln sqm. The largest new developments include Skyliner by Karimpol (48,500 sqm) and the Y building of Generation Park (44,000 sqm) completed by Skanska Property Poland. Warsaw’s office sector saw the lowest volume of space under construction in eleven years along with relatively low tenant activity. In the first quarter of 2021, Warsaw tenants leased nearly 110,000 sqm, which was down 20% on the same period in 2020. Some of 2021’s largest leasing contracts include the Public Transport Authority's 9,800 sqm pre-lease agreement in PZO Factory, Credit Suisse's 7,500 sqm renegotiation in Atrium 2 and Royal Bank of Scotland's 5,700 sqm renewal in Wiśniowy Business Park. Eight buildings totalling over 167,000 sqm were delivered to the Warsaw market in the first quarter of 2021. As a result, the total supply of modern office space in Warsaw now exceeds 6 million sqm. The largest new developments include Skyliner by Karimpol (48,500 sqm) and the next phase of Generation Park - Tower, the Y building (44,000 sqm) completed by Skanska Property Poland. Currently, around 420,000 sqm is under construction The vacancy rate increased to 11.4 pct. Prime monthly rents are stable, ranging from EUR 18 to EUR 24 per sqm in the centre and up to EUR 16 per sqm outside. Total investment in Warsaw offices came to EUR 250 mln over the period. The largest deal concluded was Echo Investment's sale of Biura przy Willi (part of Browary Warszawskie) for EUR 86.7 million to KGAL Group.

Latest news

Events

POLAND Complete the survey and win some fantastic prizes!

schedule 24 March 2021
Eurobuild Conferences

We invite all cyclists, both regular bikers and those who only cycle occasionally, to fill in our questionnaire and share their comments and opinions on cycling to work.

Investment & finance

CEE region GTC looks on the bright side

schedule 14 May 2021

GTC has announced a gross margin from rental activities of EUR 27 mln with an operating profit before tax and fair value adjustments of EUR 15 mln.

Warehouse & industrial

CEE region CTP publishes strong quarterly results

schedule 14 May 2021

In its first financial results announcement since its IPO in March 2021, CTP has recorded a 16.9 pct rise in net rental income for Q1 2021 compared to the same period of the previous year.

Retail & leisure

Trei continues with Vendo expansion

schedule 14 May 2021

Trei Real Estate Poland has opened three new Vendo retail parks in May in Myśliborz, Koszalin and Piekary Śląskie.

Warehouse & industrial

Czech Republic Warehousing market tight in Prague

schedule 14 May 2021

Modern industrial premises in Q1 2021 in Prague and its surrounding districts could not meet tenant demand resulting in rapidly rising prices. according to the 108 Real Estate Agency.

Warehouse & industrial

CZECH REPUBLIC VGP starts fifth Plzeň hall

schedule 14 May 2021
Opr./edited by NN

VGP has begun the construction of the fifth hall of VGP Park Plzeň, in an industrial part of the city’s Bručná district.

Warehouse & industrial

POLAND Grembox in Panattoni Ruda Śląska III

schedule 14 May 2021
Opr./edited by NN

Packaging materials producer Grembox has leased almost 10,000 sqm in Panattoni Park Ruda Śląska III in Silesia.

Warehouse & industrial

POLAND Orchestral manoeuvre into MLP Pruszków II

schedule 14 May 2021
Opr./edited by NN

Wielka Orkiestra Świątecznej Pomocy [the Great Orchestra of Christmas Charity] has leased 1,500 sqm in the MLP Pruszków II logistics park.

Investment & finance

Poland Adgar buys PDT for Brain Embassy

schedule 13 May 2021

Adgar Poland has bought the 10,000 sqm PDT Wola building in Warsaw's Wola district.

Office & mixed-use development

Poland More windows in The Park

schedule 13 May 2021

Window manufacturer Velux has renewed its lease and expanded its office area in The Park Warsaw, a development owned by White Star Real Estate.

Retail & leisure

Poland Shopping to come back

schedule 13 May 2021

Shopping centre footfall in February, prior to the fourth lockdown, averaged around 80 pct of last year’s levels so shoppers are going to return to shopping centres once restrictions have been lifted, write Cushman & Wakefield.

Events

Poland myhive Warsaw Spire – the ‘Suits on Bikes’ starting point

schedule 13 May 2021
Eurobuild Conferences

myhive Warsaw Spire is now an established landmark of Warsaw’s Wola district, an office tower that probably no one needs a map or an app to find. Therefore it’s also the perfect meeting point for those taking part in our annual ‘Suits on Bikes’ cycle ride

Retail & leisure

POLAND LCP buys Green Park

schedule 13 May 2021
Nathan North
deputy editor

LCP Properties has added another retail park to its Polish portfolio – this time in Rawa Mazowiecka.

Warehouse & industrial

POLAND Pharma firm first in 7R City Park Warsaw Airport III

schedule 13 May 2021
Opr./edited by NN

Polish pharmaceutical company Polfa Warszawa has become the first tenant of 7R City Park Warsaw Airport III by leasing 5,500 sqm in the warehousing complex, which is under development close to Warsaw’s Chopin Airport.

Retail & leisure

ROMANIA More catering for Funshop customers

schedule 13 May 2021
Nathan North
deputy editor

Polish company Scallier has signed a number of lease agreements with food and beverage tenants for two retail parks of its Funshop Park network in Romania.

Office & mixed-use development

Poland VMLY&R enters Zabłocie Business Park

schedule 12 May 2021

Brand and customer experience agency VMLY&R has signed a 600 sqm lease agreement for space in the Zabłocie Business Park B office building in Kraków.

Warehouse & industrial

Poland Still No Limit in Tristar Grodzisk

schedule 12 May 2021

Logistics operator No Limit has renewed its lease in the Tristar Grodzisk industrial and logistics park.

Office & mixed-use development

Czech Republic Brewer enters BB Centrum

schedule 12 May 2021

International brewer ABInBev has leased 7,400 sqm in building B in the BB Centrum in Prague.

Office & mixed-use development

Hungary Doktor24 expands in CityZen

schedule 12 May 2021

Private healthcare provider Doktor24 has more than doubled the space it leases in the CityZen office building in Budapest, managed and operated by ConvergenCE.

Investment & finance

POLAND Londoners buy Polish warehouse portfolio

schedule 12 May 2021
Nathan North
deputy editor

Polish Logistics has expanded its portfolio with the acquisition of five logistics parks in Poland from AEW Europe with a combined area of 208,992 sqm.

Latest in Office & mixed-use development

schedule 13 May 2021

More windows in The Park

Window manufacturer Velux has renewed its lease and expanded its office area in The Park Warsaw, a development owned by White Star Real Estate.

schedule 12 May 2021

VMLY&R enters Zabłocie Business Park

Brand and customer experience agency VMLY&R has signed a 600 sqm lease agreement for space in the Zabłocie Business Park B office building in Kraków.

schedule 12 May 2021

Brewer enters BB Centrum

International brewer ABInBev has leased 7,400 sqm in building B in the BB Centrum in Prague.

schedule 12 May 2021

Doktor24 expands in CityZen

Private healthcare provider Doktor24 has more than doubled the space it leases in the CityZen office building in Budapest, managed and operated by ConvergenCE.

schedule 11 May 2021

Steady as she goes for offices

Demand for office space in Poland totalled 208,000 sqm between January and March 2021, according to figures from JLL.

schedule 07 May 2021

Stability ahead in Bucharest

The volume of Q1 leasing transactions in Bucharest came to 48,000 sqm, according to Cushman & Wakefield Echinox.

schedule 07 May 2021

Three in Mokotów Plaza re-lease 1,605 sqm

UK investor M7 Real Estate has re-leased a total of 1,605 sqm in Mokotów Plaza in Warsaw to three existing tenants.

schedule 06 May 2021

Fregata takes Colliers on board

Work is now underway on the 15,600 sqm Fregata Park office complex in Szceczin.

schedule 05 May 2021

Architect chosen for new Poznań quarter

BPI Real Estate Poland and Revive have chosen SUD Architekt Polska studio to design their joint venture project to be built on ul. Jana Matejki in Poznań’s Łazarz district.

schedule 05 May 2021

PM Group enters West 4 Business Hub

PM Group, an international project management company operating across Europe, the USA and Asia, has leased over 1,900 sqm at West 4 Business Hub in Wrocław.

schedule 05 May 2021

IT giant signs 30,000 sqm Nové Apollo lease

A major global IT company has leased 30,000 sqm in the Nové Apollo office complex, which is being developed by HB Reavis in Bratislava.

schedule 04 May 2021

Offices set to make a come-back

With more than 167,000 sq m of new office space coming on stream in the first quarter of 2021, Warsaw’s total office stock rose over 6 mln sqm.

schedule 04 May 2021

More office space on the way

According to figures from Walter Herz, last year saw an increase of over 40 pct in the number of applications filed for building permits for office centres in Warsaw compared to the previous year.

schedule 30 April 2021

Libeskind tower finally underway in Vilnius

Work has begun on the 20-storey Atery business centre in Vilnius, which has been designed by Daniel Libeskind.

schedule 30 April 2021

S Immo planning Budapest office complex

Austrian developer S Immo has announced that it is planning to develop a 29,000 sqm office project in Budapest.

schedule 30 April 2021

First stage of Forest completed

HB Reavis has completed the 23,000 sqm first stage of its Forest campus development in Warsaw, while the tower section has reached its target height.

schedule 28 April 2021

Asseco in 3T

IT company Asseco Poland has leased three floors in the 3T Office Park in Gdynia, the largest lease in the city so far this year.

schedule 28 April 2021

Warsaw office market stock now over 6 mln sqm

Eight buildings totalling over 167,000 sqm were delivered to the Warsaw market in the first quarter of 2021, according to figures from JLL.

schedule 28 April 2021

Just under 6 mln sqm stock in regional cities

The Polish Chamber of Commercial Real Estate (PINK) has published the Q1 2021 figures on the office market for eight major regional markets in Poland (Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Lublin, Szczecin) for Q1 2021.

schedule 23 April 2021

Tech Mahindra in Vox

IT giant Tech Mahindra expanded its offices in Vox Technology Park in Timișoara with 1,500 sqm.

Categories