Difficult choices of the office tenant

Robyg Business Center in Warsaw
Robyg Business Center in Warsaw
It is said that the current situation in the office sector is preferential for tenants. This is undoubtedly true, but the optimal choice of the office space is also not easy.

Polish office market poses a challenge to the tenants who have to choose the right office space. But definitely those, who look for an office in Warsaw face the most difficult choice. In 2013, Warsaw office market gained about 300 000sqm of office space and the total supply volume is over 4,1 mln sqm. Vacancy rate hovers around 12%, which means that over 500 000sqm of office space awaits tenants.

 

A large amount of available space requires a lot of flexibility on the part of the office building owners, but it doesn’t change the fact, that choosing the right seat is not easy. The main reason for that is a high variety of the Warsaw market and different needs of the tenants. For some companies a state-of-the art tower blocks in the city centre would be perfect, others prefer more prestigious, revitalized tenement houses. The latter trend was particularly popular last year. Such premises provide not only a proven location but also the latest solutions.

 

There is a number of examples to prove the rise of interest in modernized buildings. A makeover of Atrium Tower, a Warsaw office building, encouraged MDDP Akademia Biznesu to rent over 1000sqm. The owner of the building is AEW Europe. The representatives of the companies interested in renting office space in Atrium Tower are quite surprised with the evolution of the interiors and with how well they present. – emphasises Michał Orłowski, Director and Head of Landlord Representation BNP Paribas Real Estate. The mid-twentieth century tenement house at Żurawska 6/12 is another example. A full modernization of the building and the highly recognizable location were the advantages which convinced Travel Express to rent some office space there.

 

There is also one more building in the city centre which is characterized by unusual elevation and a good address – Chmielna 25. The innovative architecture has been perfectly integrated  into the surrounding urban fabric. It arouses great interest and admiration. What distinguishes the building is the spacious interior with a perfect exposure in the atrium and effective functional layout of the floors, ideal for cabinets – states Michał Orłowski, Director and Head of Landlord Representation BNP Paribas Real Estate. NEXTEP Group is among the companies which rented some space in this office building.

 

Downtown is not the only location appreciated by the developers and tenants. For some companies buildings a bit more far away from the city centre, e.g in Wilanów, are much more attractive. This is where Robyg Business Center and Royal Wilanów are being built. The former has already attracted a significant tenant - Atlantic will rent over 1000sqm there. The client was looking for a modern solution in the shape of a space which would allow for flexible office arrangement and for adjusting it to their business – says Małgorzata Fibakiewicz, Director and Head of the Tenant Representation BNP Paribas Real Estate. Royal Wilanów complex, certified by BREEAM, is an object of interest of Erbud company, which intends to rent 2547sqm there.

 

In the subsequent years, Warsaw market will not lack new office space. The high supply will exert pressure on the rent and will motivate the owners of the buildings to even greater flexibility. It will also encourage the companies to look for some new, more attractive office space. The key to making the best choice is a thorough analysis of the company’s needs, then a careful selection of tenders and effective negotiations.

 


0.0
Tags:
Be the first to comment
mantra