Łódź to Be as Good as New

In Łódź, modern commercial facilities are emerging faster than in any other cities in the country. Last year, Łódź agglomeration was ranked second among the regional cities, after Cracow, in terms of the increase in office resources. According to Walter Herz analysts, a new supply of office space on this market reached 75 thousand sq m in 2017. Among others, two office buildings located in the New Center of Łódź: Przystanek mBank (24 thousand sq m) and Nowa Fabryczna (19 thousand sq m) were commissioned.

Every year Łódź office offer is growing by 20 per cent

According to Walter Harz consulting company, office market in Łódź is currently offering around 480 thousand sq m of space. Almost half of the offices are located in the recently completed, modern buildings. In 2017, the offer of the office market in Łódź increased by almost 20 per cent. - The demand for modern offices in Łódź agglomeration is very large, as evidenced by the lowest vacancy rate in the country, which despite a considerable increase in supply on this market last year is at more than 8 per cent. – says Mateusz Strzelecki, Walter Herz Partner.

Łódź will change its image in the upcoming years thanks to the extensive investment and revitalization plans, for which the city has received EU funding. The residents of the city, which currently has the lowest unemployment rate in the last 20 years, will also benefit from the development. Plans related to infrastructure development concern both the implementation of office and hotel projects, commercial, retail and residential projects, as well as modernization and expansion of public transportation and transit routes.

The New Center of Łódź in expanding

According to Walter Herz specialists, there are currently over 180 thousand sq m of offices under construction on the Łódź market. Many of which are already contracted. – Within the next few years, due to the large scale of the ongoing and planned projects and the revitalization of the existing resources, Łódź will maintain a high growth rate of the office market - says Mateusz Strzelecki.

Particularly noteworthy is the largest Łódź venture – the New Center of Łódź - the implementation of which consists of many investments that will provide the city with a new business and cultural center. As part of this project, the most modern railway station in the country - Łódź Fabryczna, as well as Nowa Fabryczna and Przystanek mBank projects have already been completed and the works on EC1 revitalization- based complex, with cultural and educational functions, are coming to an end. This year, Brama Miasta will be completed as well.

The modernization of the Łódź Fabryczna station and the extension of the nearby road infrastructure, as well as the planned implementation of an underground cross-town tunnel, connecting two railway stations, will allow Łódź to become the largest transport hub in Poland.

Kobro Market Square with an architectural plan

This year, the construction of the Fabryczna Office Center and Kobro Market Square, the first municipal square in Łódź, is to start in the NCŁ. Kobro is to become the most important public space in the city, adapted to organization of mass events. Centrum Biurowe Fabryczna, a 13-storey, glass office building with brick elements, located opposite Łódź Fabryczna railway station, will offer 27 thousand sq m of offices and 4 thousand sq m of commercial and retail space, located on the ground floor. In the light of urban planning, the office building is to be connected to the station and other parts of the city by an underground tunnel.

Kobro Market Square, located between Łódź Fabryczna station and EC1 - will be surrounded on one side by a characteristic industrial Łódź buildings, and on the other by modern facilities. As part of this development, a new Hasa Street will be built by the end of the next year. The street will have a green passage, fountains and space for seasonal beer gardens. It will also run underground for 500 meters.

Among the most outstanding office projects in Łódź under construction, Walter Herz experts mention Monopolis, Ogrodowa 8 Office, the revitalization of the Grohman School, as well as Imagine and Cross Point investments.

Construction of the large office buildings

Last year, Ogrodowa 8 Office complex, situated near the renovated Andel's Hotel and Poznański Palace has already been topped out. The office building, located in the corner of Ogrodowa Street and Zachodnia Street, is to provide the Łódź market with 28.6 thousand sq m of lease area, including 3.9 thousand sq m of commercial and retail area located on the ground floor of the building.

This year, the first stage of Monopolis investment is planned to be commissioned on the premises of the former Monopol Wódczany distillery in Łódź. The project is based on revitalization of the historic buildings of the third largest factory complex in Łódź, after plants of Karol Scheibler and Izrael Poznański. The main building of the former bottling plant will be transformed into an office building with restaurants, cafes and wine cellars on the ground floor. The second stage of the project, which includes the construction of a new office building, is to be completed in 2019, and the third stage of the investment with another office building will be finished in 2020.The whole complex will provide 29 thousand sq m of office and retail space.

The construction of Brama Miasta project is also underway in the New Center of Łódź. The first of the buildings planned in this investment, which is emerging closer to the Łódź Fabryczna station, will offer tenants 27.5 thousand sq m of office space. The whole project will provide about 40 thousand sq m of space for lease. The two office buildings included in the investment are to be completed by mid-2019. The buildings with corten-covered facades and a brick patio, will refer in aesthetics to the factory tradition of the city.

Restored tenement houses

What is more, four old, historic tenement houses at Tuwima Street will be restored. The investment will include a major renovation and extension of the city buildings, that will gain various functions. Two tenement houses will have a residential character, and there will be offices and commercial premises in the buildings at 33 and 52 Tuwima Street. Their modernization is expected to last until the end of 2019. As a result of the reconstruction, Tuwima street itself will be adapted to the standards of the metropolitan area.

The revitalization works and the extension of the historic complex of the Grohman School, located in Łódź in the quarter limited by Kilińskiego, Fabryczna, Targowa and Tylna Streets, are also underway. Targowa 77 investment is to offer 1200 sq m of top-class office and retail space. An intimate multi-family residential building , will be constructed as part of the project. The investment is scheduled to be completed this year.

Expansion of the multifunctional complexes

In the OFF Piotrkowska Center in Łódź, the modernization of Sepia Office building is also being implemented. The renovation of the historic building is expected to be completed this summer. Right next to Roosevelta Street, a modern Teal Office building is also under construction. After completing these investments, OFF Piotrkowska will extend its gastronomic, entertainment and cultural functions with the usable and office space.

Cross Point office complex located at the intersection of Milionowa and Aleja Rydza Śmigłego Streets in the district of Widzew, gained two more office buildings after the extension and will also provide Łódź with modern office space. In the two new buildings of this complex, there will be 3300 sq m and 6200 sq m of offices

Łódź office tower

Ghelamco company has also obtained the building permit for Łódź office tower - P22. This long-planned investment will be implemented near the intersection of Sienkiewicza and Aleja Piłsudskiego Street. According to preliminary assumptions, P22 is to be a 14-storey office building with a usable area of over 23 thousand sq m.

Whereas, a modern facility is to be commissioned next year as a part of Imagine project, implemented at the intersection of Piłsudskiego and Śmigłego-Rydza Streets by Avestus Real Estate company. The project will include 14.5 thousand sq m of office space and 2.3 thousand sq m of retail and service area.

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Łódź to Be as Good as New

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