Leased office space in 2015. Who and where?

JLL with the biggest market share and a record-breaking leased office space total

Warsaw, 25 February 2016 – International advisory firm JLL has analyzed office lease transactions signed in 2015.

1.5 million sq m of modern office space was leased in 2015 in Poland. The highest amount – 834,000 sq m – was leased by companies in Warsaw, followed by 226,200 sq m in Kraków and 127,600 sq m in Wrocław.

Take-up in 2015 by cities

City Sq m of leased space in the city
Warsaw 834,000
Kraków 226,200
Wrocław 127,600
Tri-City 107,500
Łódź 70,000
Poznań 64,900
Katowice 62,500
Szczecin 12,700
Lublin 11,500

Source: JLL, Q4 2015

Anna Bartoszewicz-Wnuk“A lot was happening on the Polish regional markets, in which we recorded a substantial increase in take-up for modern office space. Compared to 2014, demand in Tri-City increased by 61%, while in Kraków it grew by 56%, in Łódź by 53%, in Wrocław by 34% and in Katowice by 29%. Poznań had a particularly impressive performance in 2015, with signed lease agreements of ca 65,000 sq m - a threefold increase on 2014”, explains Anna Bartoszewicz-Wnuk, Head of Research and Consulting at JLL.

The biggest lease agreements were concluded in Łódź (mBank; new location, 24,000 sq m), Kraków (Shell; business services centre, 22,000 sq m) and Warsaw (IT company, Research & Development centre).

The biggest lease agreements in particular cities in 2015 (one lease agreement per each city)

City Building Company Type of lease agreement Space (sq m)
Łódź Przystanek mBank mBank Pre-let 24,000
Kraków Dot Office Shell Pre-let 22,000
Warsaw Warsaw Spire Confidential Tenant Pre-let +21,000
Wrocław Wojdyła Business Park IBM Global Services Delivery Centre Polska Renewal 20 000
Tri-City Alchemia State Street Pre-let 15,000
Poznań Poznańskie Centrum Finansowe BZ WBK Renewal 13,000
Katowice Katowice Business Point Tauron Renewal and expansion 10,000
Szczecin Atrium Katedra Marshal Office Renewal 3,000
Lublin Makrochem Makrochem Owner occupier 1,600

Source: JLL, Q4 2015

Companies from the services, telecommunication, IT and banking/finance sectors leased the highest amount of office space. These were followed by manufacturing companies and insurance companies. Public sector leased a total of 75,000 sq m of space throughout Poland last year.

Karol Patynowski, JLLAccording to Karol Patynowski, Associate Director, Tenant Representation at JLL, companies have increasingly specific expectations regarding occupied space. They are aware that well-designed and employee-friendly offices can be a bargaining chip in the competition for young talents.

“Companies seeking modern space not only assess the financial aspects but also look to provide their employees with conveniently located offices, with good access to public transportation and numerous amenities. Modern design, comfortable working places adjusted to the needs of employees, bicycle parking racks, spacious kitchens along with creative spaces for team work are only some of the elements through which employers can successfully attract the best candidates” – adds Karol Patynowski.

In 2015, 22% of contracts signed were for over 10,000 sq m. These were followed by companies leasing space for between 2,000 and 5,000 sq m.

Size of lease agreements (sq m)

Size of lease agreements
Source: JLL, Q4 2015

As for the structure of lease agreements, 38% of overall deals consisted of new lease agreements in existing buildings, 29% were renewals and 21% were pre-lets. Expansions comprised 9%.

Anna Młyniec, JLL“We are happy with the high activity of tenants searching for modern offices that offer good value for money. In 2015, JLL advised on office lease agreements totaling 285,000 sq m. This accounts for the highest -25% - share in overall volume of transactions signed with participation from advisory firms. This is also the largest amount of square meters ever leased by the agency in one year on the Polish market” – says Anna Młyniec, Head of Office Agency and Tenant Representation at JLL.

“Currently, there is nearly 1.5 million sq m of modern office space under construction in Poland, including 700,000 sq m in Warsaw, 184,000 sq m in Wrocław and 183,000 sq m in Kraków. Companies planning relocations are spoiled for choice” – adds Anna Młyniec.

We have represented Office tenants and landlords in following cities: Warsaw, Krakow, Wrocław, Tricity, Łódź, Poznań, Katowice, Szczecin, Lublin, Rzeszów, Bydgoszcz and Olsztyn.

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