Polish office market set to grow by 900,000 sq m in 2016

  • There is approx. 1.5 million sq m of office space under development throughout Poland
  • Developer activity in Krakow at historic high – 280,000 sq m of offices under construction

Warsaw, 6 May 2016 – Advisory firm JLL summarizes the situation on the office markets in Warsaw and major Polish cities[1] at the end of Q1 2016.

Anna Młyniec, JLL

Anna Młyniec, Head of Office Agency and Tenant Representation at JLL, comments: “In Poland, lease agreements for a total of 250,400 sq m of office space were signed in Q1 2016. Major office markets outside Warsaw accounted for 108,200 sq m of this number. The highest take-up was recorded in Warsaw – 142,200 sq m, followed by Kraków with 39,400 sq m. We expect an increase in tenant activity in the upcoming months.”


Biggest office lease agreements concluded in Q1 2016 in Poland

Company City Building Space (sq m)
Credit Suisse Wrocław Grunwaldzki Center 10,800
AON Kraków Enterprise Park E 10,750
Allegro Warsaw Q22 7,600
Confidential tenant Warsaw Atrium 2 7,500
Rockwell Automation Katowice A4 Business Park III 7,450
Primulator Łódź Primulator HQ 7,300
Shell Kraków Dot Office 5,850
Heineken Global Shared Services Kraków Vinci Office Center 5,700

Source: JLL, PORF, Q1 2016

“The business services sector remains a key occupier on major Polish regional markets, accounting for approx. 63% of demand registered outside Warsaw in Q1 2016. In Wrocław, the sector accounted for 83% of the city's quarterly office take-up, in Katowice – 81% and in Kraków - 74%”, adds Anna Młyniec.


By the end of Q1 2016, total office stock in Poland reached approx. 8.3 million sq m. 218,000 sq m of new office space was delivered to market (113,000 sq m in Warsaw and 105,000 in other locations) in Q1 2016.

The biggest office completions in Q1

Building City Space (sq m)
Eurocentrum Office Complex Delta Warsaw 25,000
Astrum Business Park I Warsaw 22,600
Tryton Business House Gdańsk 21,300
Atrium 2 Warsaw 20,250
Prime Corporate Center Warsaw 20,150
Gdański Business Center II C Warsaw 19,700
O3 Business Campus I Kraków 19,200
C200 Gdańsk 17,000
Kaufland HQ Wrocław 16,000
Storrady Park Offices Szczecin 7,400
Equal Business Park A Kraków 6,900
KróLEWska Warsaw 5,400
Tensor X Gdynia 5,000

Source: JLL, PORF, Q1 2016

Mateusz Polkowski, JLL

“Currently, there is approx. 1.5 million sq m of office space under construction throughout Poland. The largest developer activity is in Warsaw, where 662,000 sq m is under construction, followed by Kraków - 284,000 sq m, Wrocław - 170,000 sq m and Łódź - 106,000 sq m. According to our preliminary forecasts, the Polish office market is likely to grow in 2016 by 900,000 sq m”, says Mateusz Polkowski, Associate Director, Research and Consulting, JLL.


Vacancy rate

Vacancy rate in Warsaw was14.1% by the end of Q1 2016. Outside Warsaw, the lowest vacancy rate was registered in Kraków (5.7%) while the highest was recorded in Szczecin (18.3%).


The highest prime rents in Warsaw’s city centre averaged out at between €21 and €23.5/ sq m / month. Outside the city centre, rents vary between €11 and €18 / sq m / month. As for major office markets outside Warsaw, the lowest rent rates are recorded in Lublin (€11 – €12 / sq / month) while the highest can be found in Poznań and Wrocław (€14 – €14.5 / sq m / month).


In Q1 2016, JLL's team of experts advised on office lease transactions totaling approx. 61,000 sq m throughout Poland. This gave JLL a 34% market share, the highest among real estate advisory firms.


[1] Kraków, Wrocław, Tri-City, Katowice, Poznań, Łódź, Lublin, Szczecin

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