Colliers leads the Warsaw office space rental market – EuropaProperty

Colliers International published the results of the Office Agency in the Landlord Representation division. In 2019, Colliers advisors rented a total of over 118,000 sqm of office space. This result is nearly 40 percent higher than in 2018 (88,106 sqm) and 260 percent higher compared to 2017 (32,824 sqm).

The largest transaction in which Colliers experts from the Landlord Representation division participated, and at the same time a record transaction in the history of the Polish office market, was the lease of over 46,000 sqm for mBank in Mennica Legacy Tower in Wola. Other large lease transactions involving the consulting company include 12,780 sqm of office space for AXA in the Warsaw Trade Tower skyscraper belonging to Globalworth, 9,009 sqm for BOŚ Bank in the Feniks office building, 5,400 sqm leased to SII in Warsaw’s Metron and 4,788 sqm for the OSCE Office for Democratic Institutions and Human Rights at Młodziejowski Palace, which is owned by the Patrizia fund.

Last year, Colliers advisors leased 28 percent of the office space available in Warsaw on behalf of building owners, which increased their result by 9 percent compared to 2018 making the company the undisputed leader with the largest share in the Warsaw market.

Increases in regions

The Landlord Representation division within the Office Agency in recent years has also been developing rapidly in regional cities. Colliers increased its share in those markets from 1 percent in 2017 to 20 percent in 2019. Currently, the company has 39 buildings in its portfolio throughout Poland and cooperates with 24 owners.

“2019 was a record year for us in terms of leased space. This year we are not going to slow down – we are planning intensive development of the department not only in Warsaw, but above all we are strengthening our position in the regions. I am convinced that this strategy, combined with the knowledge and experience of our experts, will translate into further excellent results,” says Izabela Kapil, director of Landlord Representation in the Office Agency at Colliers International.