Poznań Office Market Is Accelerating

Poznań Office Market Is Accelerating

The continuing high interest in office space in Poznań, encourages both investors and the city authorities to plan large investments

The last two years have brought great results in terms of dedicated and leased office space in the largest agglomerations in the country. Poznań saw a record demand for offices in 2015, with almost 65 thousand sq m of leased space. The year 2016 proved to be equally good. According to Walter Herz advisers, lease contracts were signed for over 64 thousand sq m of offices. They point out that last year more companies present in the capital of Wielkopolska decided to increase their space, which is a positive signal, proving the investment potential of the market.

Nearly half a million square meters of modern offices

Poznan's office market is one of the leading locations in Poland, with less than 430 thousand sq m of modern office space. According to Walter Herz, in 2016 the supply in the agglomeration increased by 41 thousand sq m. Last year, the largest area was commissioned in Maraton complex (over 13 thousand sq m). - There is over 40 thousand sq m of offices under construction. Walter Herz specialists inform that over half of this area should be completed by the end of the year.

According to the experts, due to the strong demand for office space in 2016, the vacancy rate in Poznań dropped to 13.6 per cent. The highest rents in the city are comparable to those in Cracow and Wrocław, and range between 14-15.5 euro / sq m / month.

Bałtyk project almost completed

The commissioning of Bałtyk office complex is planned in the agglomeration in the middle of the year. One of the most interesting architectural buildings in Poznań, located in the city center will provide over 15 thousand sq m of office space.

Garvest company is also planning on building two more office buildings of approximately 9 thousand sq m and 8.5 thousand sq m near Grunwaldzka Street. As the investor assures, the new buildings will be identical to the one located in the vicinity of the first office building - Pixel. The cluster of five office buildings will offer a total of 55 thousand sq m.

An office building, which will become a part of a multifunctional complex Zajezdnia Poznań will also emerge on the border of the center of Poznań and Jeżyce district. The four-storey Class A office building is to offer a total of about 6.8 thousand sq m of space.

The tallest building in the city in preparation

The construction of the second stage of Business Garden Poznań project has also begun. The project will include five buildings with a total leasable area of 46 thousand sq m and a standalone parking building. The entire facility will be ready by the end of 2018. So far, in the office park located at Marcelińska, Bułgarska and Łubieńska Street four buildings were commissioned , offering 42 thousand sq m of space.

Andersia Property company is preparing for the construction of the building which will be the tallest facility in Poznań. Andersia Silver, first of the two office towers, which will be built by Andersa Square is to measure 116 meters and provide 28 thousand sq m of space. The beginning of the construction is planned in the middle of the year.

Poznań’s Nowy Rynek and Wolne Tory

Skanska is also investing in Poznań. The company plans to develop a significant section of the city. A multifunctional investment Nowy Rynek is to be built on the site of the former bus station measuring 3.2 ha. In the quarter of Matyi, Wierzbięcice, Wujka and Przemysłowa Streets several buildings will be constructed and bonded by a public square located in the inner courtyard. The investor wants to start the construction in the middle of the year. The project involves mainly office development. Apart from the office buildings it will also include apartments. Skanska is also considering implementing a hotel on this site.

According to Walter Herz experts, Poznań’s authorities are preparing a local development plan for over 100 hectares of land located between Poznań’s districts of Wilda and Łazarz. The project is to include residential, business and commercial development. Wolne Tory will be the new district of the city, which will include 10-15 thousand apartments. Polish State Railways PKP and BGK Nieruchomości bank are the city’s partners in the implementation of this project.

The railways, which own a part of the area is planning on implementing the commercial part of the investment with modern office buildings. Apart from the office buildings Wolne Tory will include a number of residential buildings, with premises taking part in the government’s Mieszkanie Plus program. The project is due to start next year.

The expansion of BPO / SSC sector

Similarly to the other regional cities, one of the largest tenants of office space in Poznań is a modern business service sector. According to ABSL, 76 BPO, SSC, IT and R & D centers operate in the capital of Wielkopolska and employ over 13 thousand people. According to the estimates, the industry will hire another 5 thousand people by 2020.

The companies from the sector are steadily increasing employment. The Capgemini Software Solutions Center, which opened last year in Poznań, intends to hire nearly 300 IT professionals in the next 2-3 years. Also, Poznańskie Centrum Usług Biznesowych GSK IT and Sii company have plans to employ 200 people in their new offices located in the agglomeration. In turn, Mobica company, which opened a software development center this year, is currently recruiting 100 employees.

Walter Herz specialists point out that Poznań has a lot of personnel potential. – Central Satistical Office data speak of 150 thousand students in the city and one of the lowest unemployment rates in the country, amounting to 5.1 per cent.

Author: Walter Herz

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Poznań Office Market Is Accelerating

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