Office space in Warsaw exceeded over 4 million square meters

Warsaw Research Forum presents new data concerning offices in Warsaw in the first half of 2013.

Seven consulting companies included in Warsaw Research Forum presented current data concerning premises in Warsaw in the first half of 2013.

At the end of this period the overall office space in Polish capital has exceeded 4 million square meters with the precise count of 4 011 200 m2. During the first six months of 2013 a total amount of 152 000 m2, divided equally between first and second quarter of the year, of new office space was put into use. This space is occupied by nine buildings from which only one is located in the city center and it’s the Bank Square using 3 700 square meters. Over 70 percent of new supply has been used in Mokotów district.

The biggest of the finished investments are Konstruktorska Business Center (48 300 m2) and Marynarska 12 (40 000 m2). Both of them are in the Mokotów district.

Due to the increase in supply, the level of vacant office space has risen from 8,8 to 10,5 percent. In the city center this level has reached 9,9 percent and in other places it’s 10,8 percent.

The increase in demand, which in the first half of the year reached 333 900 m2, was pointed out. It is a 12 percent increase in relation to the same period of the previous year. In highest demand were offices in Mokotów district with a total number of 107 200 m2. In two central districts as much as 77 400 m2 have been rented. One – third of all transactions were the effect of renegotiation of previous deals and 16 percent a result of pre-let contract. The biggest deal of this period was renting of 13 000 m2 of office space by The Office for Registration of  Medicinal Products, Medical Devices and Biocidal Products at Ochota Office Park.

Warsaw Research Group includes companies, such as: CBRE, Colliers International, Cushman and Wakefield, DTZ, Jones Lang LaSalle, Knight Frank and Savills.

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