BTS form, like a suit from the best tailor

Exceptional expectations of a company towards space and location of the office, can only be fully met by an exclusive project

For several years, the office sector in our country has seen the most rapid development ever recorded, and this year is special in this respect. It has already brought new records, both in terms of new supply and demand for offices. The total area of modern office space on the largest office markets in Poland will soon exceed the level of 10 million sq m. A record number of offices is under construction, and the first half of this year was the best in terms of the number of leased space in the whole history of Polish office market.

The market is increasingly maturing, offering a wide range of diverse space, but the demand for offices is so great that investors are forced to make reservations for space in the facilities that are still under construction. Especially in the regional locations, it is extremely difficult to lease large space right away.

Development on the indicated point on the map

So what else can a company that has difficulty finding an office that meets their requirements do? - If there is no available space on the given market, the company may opt for BTS, that is to build a tailor-made facility, which will be constructed according to the company’s guidelines - informs Mateusz Strzelecki, partner at Walter Herz.

- BTS investments are the best solution for companies that have specific requirements for their business and need large space. They also work when the company has strict expectations about the location, where the availability of offices is small. The ability to designate a location is often a deal maker in favor of selecting BTS - says Mateusz Strzelecki.

Selecting the shape of the project

The expert argues that this option has many advantages. - The future tenant has influence not only on the location of the office building, but also on the shape of the entire investment, the technical specifications, the size of the building and space the company will occupy. Tenants are able to decide on the layout and division of space, lighting, equipment, facilities for employees and other parameters, including those related to the costs of later use - says Mateusz Strzelecki.

In Strzelecki's opinion, this is particularly important for large companies and corporations, the branches of which must be similar and perform specific functions.

Specific requirements

The specialist emphasizes that the company for which the facility is being built can decide on almost every aspect of the project. They also have the ability to meet individual requirements that result from the nature of their business. - For example, security companies expect a monitoring center, a rapid response center, medical companies - laboratories, whereas service companies and government agencies need special customer service points or downstairs registry offices. Some companies need independent, intimate buildings, offering between 1500 and 5000 NLA /GLA, for safety reasons - explains Mateusz Strzelecki.

- Completion time of the build-to-suit project for simple buildings is 10-12 months after beginning of the construction work. Construction time of the investment depends on the location of the future facility. First, one needs to check whether there is a possibility to acquire the land and build the required investment on it. On the other hand, such projects are a chance for local developers who have secured land or the possibility of redesigning the planned facilities into the BTS - notes Strzelecki.

Various forms of transactions

He points out that in this system, the nature of cooperation is arbitrary - It can be a lease transaction with a developer or the construction, and then the sale of the investment to the client. The build-to-suit option is a very flexible solution, because during tenancy it allows for a quick response when the demand for space of the company changes. In BTS projects, apart from the offices created for the tenant, sometimes there is also an additional area, which is subject to commercialization later – adds Strzelecki.

Walter Herz exert believes that BTS is a better choice than buying a building because it does not impose ownership obligations on the investor. - During the tenancy period, the landlord can still take care of the property and take responsibility for it, as requested by the tenant, even if the building is leased entirely by that one tenant. And at the end of the lease period, the company can decide to move, leaving the office building as the owner’s hands - argues Strzelecki.

The specialist gives examples of recent implementations of this type, including among others, Warsaw Artico building, which was created for CBRE and office building in Katowice, which was created in 12 months by Brema for an IT company BPSC SA.

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BTS form, like a suit from the best tailor

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