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Office market in Wrocław – half-year 2016

The size of office space in Wrocław amounts to 757 100 sq. m (Wrocław by night, pic pixabay.com)
The size of office space in Wrocław amounts to 757 100 sq. m (Wrocław by night, pic pixabay.com)
The office market in Wrocław is to exceed 800 000 sq. m of modern office space this year. The high activity of developers as well as strong demand are the main characteristics of the office market in Lower Silesia.

Wrocław is one of the key locations in Poland for projects of the modern services for business sector. According to data of ABSL, there are 111 business centers which hire 34 200 people in Wrocław. The city occupies the 58th place in the world due to attractiveness for investments in the BPO/SSC sectors in the ranking Tholons Top 100 Outsourcing Destinations 2016. Wrocław attracts such international brands as BNY Mellon, Credit Suisse, EY, IBM, HP, Nokia and others which have already located their centers in the city. Moreover, it still attracts new investments like 3M, DataArt, Ocado Technology, Red Embedded, Ryanair or UBS. The new brands and development of already operating companies in Wrocław indicate dynamical increase of the office sector – says Katarzyna Krokosińska, Manager of Wrocław Department of JLL.

 

The demand for offices in 2015 reached 127 600 sq. m due to several important transactions. One of the most important contracts of the previous year is debut of the financial company UBS in Wrocław. Additionally, 52 500 sq. m were rented in the first six months of 2016, which constitutes ca. 20 per cent of demand on the main markets outside Warsaw. Companies from the sector of modern services for business had the highest interest in demand for offices (it amounted to more than 50 per cent in the first six months of 2016).

 

The biggest lease contracts concluded in the first six months of 2016 in Wrocław

Company Building Size (sq. m)

Kaufland

Kaufland HQ (building for own use)

16 000
Credit Suisse

Grunwaldzki Center

10 800
XL Catlin

Pegaz

5 700
Silicon & Software Systems

Nicolas Business Center

2 500

Comarch

Długosza Business Park

2 200


Source: JLL, PORF, half-year 2016

 

More than 48 300 sq. m were commissioned in five buildings in the first six months of 2016. The biggest structures commissioned in that period are: Pegaz (18 500 sq. m), Kaufland HQ (building for own use; 16 000 sq. m) and Nicolas Business Center (9 300 sq. m). There are still more than 180 000 sq. m of modern office space under construction, for instance, Business Garden Wrocław (Vastint), Sagittarius Business House I&II (Echo Investment), Nobilis Business House (Echo Investment) and Green 2Day (Skanska Property Poland). Moreover, there can be even 87 000 sq. m of new office space on the Wrocław market in the second half of this year.

 

The vacancy rate amounted to ca. 10 per cent in the first six months of this year. Wrocław offers both smaller modules (300-700 sq. m) and big modules (more than 1000 sq. m) to its tenants. The highest transactions rates for sq. m in the city amount to ca. 14 euro, whereas the medium ones – 12-13 euro.

 

Data concerning the situation on the office market in Wrocław in the first six months of 2016 is available in the summing-up prepared by the consulting company JLL.

 


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