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Stagnancy on office market

Katowice lacks in office space leaseholders, so developers won't build new structures.

Katowice lacks in office space leaseholders, so developers won't build new structures and suppress those building ones - quotes "Dziennik Zachodni". Investors are not even tempted by undeveloped parcels in the best areas of the city.

Only few offices of A class are located in Katowice. Among these are Altus, Chorzowska 50, Reinhold Center. Despite this, Globe Trade Centre SA (GTC) has built at Francuska Street two offices with a total space exceeding 20 000sqm in 2010. Developer entered into a lease contracts for only 25% of space in one building after they year of completion the project, the second one is left empty.

Investors had been planning to build a few next skyscrapers and A class offices yet in 2008, but it ended on visualizations. Katowice lacks in leaseholders, and that's why developers stopped to built new projects. A situation is different in e.g. Warsaw -  where office space are leased even before the start of construction works. GTC opens a fourth A class office in Platinium Business Park next to Galeria Mokotów in the capital. The building was almost entirely leased by one leaseholder before the start of construction works. Additionally, building of the fifth office is planned to start this year and this structure has also already its leaseholders.


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