Łódź Reaches for Half a Million sq m of Offices

In recent years, a record number of office space has been commissioned in Łódź, which is being quickly absorbed by the market. In 2014, the annual growth of supply in the agglomeration was three times lower than now. According to Walter Herz specialists’ calculations, over the last five years, the amount office space in the city has increased by about 45 per cent, and since 2010 the office offer has doubled.

Łódź ranks sixth in Poland in terms of available office space, but due to the intense development of this segment, it will soon have a chance to overtake Poznań and Katowice. Last year, Łódź office market received a record 74 thousand sq m of modern space, with such investments as, among others, Przystanek mBank, Nowa Fabryczna A and B and Symetris Business Park II.

Łódź offices under development

At the end of 2017, total office resources in Łódź reached nearly 440 thousand sq m of space. Walter Herz experts estimate that by the end of the year, the office market in the city will increase by another 45 thousand sq m of space, and in the following years they expect a much faster increase in new supply. This year, Ogrodowa Office complex will provide the largest amount of office space (over 28 thousand sq m).

According to Walter Herz’s data, there are currently over 124 thousand sq m of office space under construction in Łódź, most of which will be commissioned in 2020. The biggest amount of new offices will be brought by Brama Miasta project (over 38 thousand sq m) and Monopolis project (30 thousand sq m of space), based on the renovation of the buildings of the former Monopol Wódczany vodka manufacturer.

Office hubs developing in the city

The growing maturity of the Łódź market brings more and more office hubs that are emerging in the city. The largest part of office investments in concentrated in the central axis of Łódź, which is in the area of OFF Piotrkowska and on the line from Al. Kościuszki Street to the Piłsudskiego junction with Al. Śmigłego-Rydza Street. The popularity of this region, in which about a quarter of all Łódź’s offices are situated, is associated with its central location and great transportation.

According to Walter Herz specialists’ estimates, by the end of 2020 the central business axis of the city could increase its potential even by over 100 thousand sq m of modern office space. Currently, such investments as: Imagine A&B, Hi Piotrkowska and OFF Piotrkowska Center, as well as Textorial Park II and Monopolis are under construction in this area.

New cultural and business center of Łódź

An interesting business area is also emerging in the zone of Nowe Centrum Łódzi in the vicinity of Łódź Fabryczna Railway Station, in the square of Narutowicza, Kopcińskiego, Tuwima and Piotrkowska Streets, where 100 ha of land is under an intense revitalization process. It currently offers over 40 thousand sq m. of office space, mainly in two modern investments that were built there - Nowa Fabryczna and Przystanek mBank. Also, Brama Miasta is under construction in this area and the construction of Centrum Biurowe Fabryczna has just begun.

However, according to Walter Herz, if the expansion of this part of the city goes as planned, in the next few years, NCŁ (New Center of Łódź) will gain about 150 thousand sq m of new office space. Several leading real estate development companies have bought plots there and have already announced the construction of their projects.

The concept of revitalization of this area was related to Łódź's efforts to organize the Expo exhibition in 2022, which is yet to take place in Buenos Aires; however, New Center of Łódź gained a modern Łódź Fabryczna Railway Station. Also, the buildings of the former Łódź Power Plant at Targowa Street were modernized, and now host the EC1 Łódź – Miasto Kultury.

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Łódź Reaches for Half a Million sq m of Offices

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