Polish Office Research Forum releases data on the office market in regional cities for H1 2016
Polish Office Research Forum has published its figures for H1 2016 for office market in eight major regional cities in Poland (Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Szczecin, Lublin). The market data prepared by a team of analysts includes modern office stock, new completions, take-up volumes and vacancy rates.
At the end of H1 2016 total modern office stock in eight regional cities amounted to 3,665,200 sqm. The largest regional office markets are Kraków (almost 832,900 sqm), Wrocław (757,100 sqm) and the Tri-City (629,300 sqm).
In H1 2016, more than 219,500 sqm of office space was completed. The majority – 66,500 sqm - was completed in Kraków and in the Tri-City
In eight major regional markets almost 395,700 sqm remained vacant. The highest vacancy rate was noted in Szczecin – 17.7 percent, the lowest in Kraków – 6.0 percent.
Gross take-up in H1 2016 amounted to around 268,100 sqm. The strongest leasing activity occurred in Kraków (110,100 sqm leased).
The largest transactions concluded in H1 2016 include an owner occupier deal for 16,000 sqm by Kaufland in Wrocław, a 10,800 sqm renewal by Credit Suisse in Grunwaldzki Center in Wrocław, a 10,700 sqm pre-let by Aon in Enterprise Park E in Kraków, a pre-let of 10,000 sqm by Euroclear in Bonarka for Business G in Kraków and an expansion of some 10,000 sqm by ABB in Axis in Kraków.