Offices in the capital

Warsaw Research Forum published data concerning the Warcaw market of office areas in 2011.

Warsaw Research Forum published information concerning the Warsaw office market in 2011. The market data were prepared by a team of analysts and they concern, among others, the supply of modern  office space, buildings put into use, concluded lease contracts and the vacancy rate.

Last year the capital market expanded its resource of office space by 14 buildings (altogether amounting to 120 thous. sq.m.) Five of them  are located in the centre, four in the south-western zone and three in southern upper zone. Owing to putting these buildings into use, Warsaw has now 3,597 mln sq.m. of offices.

Last year, the highest level of lease of modern office space was noted in the history of the Warsaw office market. 2011 marked the renting of 573 thous. sq.m. (4% more than in 2010), out of which 226 thous. sq.m. were given to tenants in the centre, and 347 thous. sq.m. outside the central zone. The newly concluded contracts had the biggest share of transactions (46%) Pre-let constituted 21% and re-negotiations 29% of the total volume of the rented area.

The biggest transactions were signed in the centre and in the south-western zone. These were: a preliminary lease contract of the TP SA Group in Miasteczko Orange (43,7 thous. sq.m.), re-negotiations of Ernst & Young (11 thous. sq.m.) in Rondo 1 and a preliminary contract of the Orlen Group in the building Senator (9,1 thous. sq.m.).

The total average vacancy rate at the end of 2011 was 6,7 per cent, with its decrease in the centre and its increase in locations outside the centre. 

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