{"id":20044,"date":"2023-10-23T12:33:00","date_gmt":"2023-10-23T10:33:00","guid":{"rendered":"https:\/\/savills.przemeknova.usermd.net\/savills-decline-in-vacancies-and-gradual-return-of-development-activity-in-the-warsaw-office-market"},"modified":"2026-01-16T08:51:59","modified_gmt":"2026-01-16T07:51:59","slug":"savills-decline-in-vacancies-and-gradual-return-of-development-activity-in-the-warsaw-office-market","status":"publish","type":"post","link":"https:\/\/dev.officemarket.pl\/en\/savills-decline-in-vacancies-and-gradual-return-of-development-activity-in-the-warsaw-office-market","title":{"rendered":"Savills: decline in vacancies and gradual return of development activity in the Warsaw office market"},"content":{"rendered":"\n<p>According to Savills&#8217; latest report, the total stock of modern office space in Warsaw at the end of September 2023 was 6.2 million sqm. The office market in the capital added 20,300 sqm of space, delivered in four new projects, the largest of which is another building in The Park complex (White Star Real Estate, 11,000 sqm).   <\/p>\n\n<p>Nearly 263,000 sqm of modern office space is currently under construction, with as much as 82% of it located in the city center. According to the developers&#8217; plans, 143,000 sqm is to be built by the end of 2024.   <\/p>\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;After a systematic decline in developer activity, which lasted from the outbreak of the Covid-19 pandemic in 2020, we are now seeing a gradual reversal of the trend. In 2023, five new office developments were launched in Warsaw. However, some developers are still holding off on launching further projects in anticipation of a higher degree of commercialization of those currently under construction.&#8221;  <\/p>\n<cite>comments <strong>Daniel Czarnecki<\/strong>, head of office space, landlord representation, Savills.<\/cite><\/blockquote>\n\n<p>Some of the largest office projects to be delivered to the market in 2025-2026 include The Bridge (Ghelamco, 47,000 sqm), Upper One (Strabag Real Estate, 35,500 sqm) and Towarowa 22B (Echo Investment, 31,100 sqm). <\/p>\n\n<p>Total tenant-generated demand for office space in Warsaw between January and September 2023 amounted to 496,600 sqm, down some 18% compared to the same period last year. Nevertheless, Savills experts observed a gentle increase in demand from quarter to quarter (157,400 sqm in Q1, 165,200 sqm in Q2 and 174,000 sqm in Q3 this year).<\/p>\n\n<p>New contracts accounted for the largest share of demand (52%). Pre-lease agreements generated almost 7% of total demand, while expansions generated just under 4%. Tenants renegotiated nearly 189,000 sqm, accounting for a 38% share of total demand. This compares with renegotiations of 39%, new leases of 43%, expansions of 8% and pre-leases of 10% for all of 2022.<\/p>\n\n<p>Flexible office space operators in Warsaw have leased 10,600 sqm in six deals, three of which involved new locations: OmniOffice in the Warsaw UNIT (3,200 sqm) and Grzybowska Park (1,400 sqm) buildings, and Business Link in the Studio B building (3,000 sqm). <\/p>\n\n<p>According to Savills data, at the end of September 2023, the vacancy rate in Warsaw stood at 10.6%, down 1.5 pct year-on-year. Monthly rates in the most prestigious locations of the Centrum zone remained in the range of EUR 22.5-26 per sqm per month, and in S\u0142u\u017cewiec at EUR 13.00-15.00 per sqm per month. However, tenants must expect high costs associated with building maintenance fees.      <\/p>\n\n<p><a href=\"https:\/\/pdf.euro.savills.co.uk\/poland\/offices-and-warehouses\/savills-mim-office-warsaw-q3-2023-final.pdf\">Download the report.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Savills&#8217; latest report, the total stock of modern office space in Warsaw at the end of September 2023 was 6.2 million sqm. The office market in the capital added 20,300 sqm of space, delivered in four new projects, the largest of which is another building in The Park complex (White Star Real Estate, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[557],"tags":[278],"strefa_wiedzy":[55],"class_list":["post-20044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bialystok-2","tag-offices","strefa_wiedzy-news"],"acf":{"autor_1":{"autor_aktualnosci_1":{"ID":20620,"post_author":"2","post_date":"2026-02-17 09:02:36","post_date_gmt":"2026-02-17 08:02:36","post_content":"","post_title":"Daniel Czarnecki","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"daniel-czarnecki","to_ping":"","pinged":"","post_modified":"2026-02-17 09:02:36","post_modified_gmt":"2026-02-17 08:02:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/officemarket.pl\/?post_type=doradcy&#038;p=20620","menu_order":0,"post_type":"doradcy","post_mime_type":"","comment_count":"0","filter":"raw"}},"autor_2":{"autor_aktualnosci_2":{"ID":20632,"post_author":"2","post_date":"2026-02-17 09:07:31","post_date_gmt":"2026-02-17 08:07:31","post_content":"","post_title":"Jaros\u0142aw Pilch","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"jaroslaw-pilch","to_ping":"","pinged":"","post_modified":"2026-02-23 12:58:37","post_modified_gmt":"2026-02-23 11:58:37","post_content_filtered":"","post_parent":0,"guid":"https:\/\/officemarket.pl\/?post_type=doradcy&#038;p=20632","menu_order":0,"post_type":"doradcy","post_mime_type":"","comment_count":"0","filter":"raw"}},"powiazane":[{"ID":11757,"post_author":"2","post_date":"2025-04-24 12:03:16","post_date_gmt":"2025-04-24 10:03:16","post_content":"<!-- wp:heading {\"level\":3,\"translatedWithWPMLTM\":\"1\"} -->\n<h3 class=\"wp-block-heading\" id=\"STRUKTURA-ZASOB&#xD3;W\"><strong>RESOURCE STRUCTURE<\/strong><\/h3>\n<!-- \/wp:heading --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>At the end of March, the total office stock of the eight major regional cities stood at 6.76 million sqm. The most developed markets remain Krakow, Wroclaw and the Tri-City, which together concentrate 63% of the stock. Each of these cities has more than 1 million sq. m. of modern space. Katowice, Pozna\u0144 and \u0141\u00f3d\u017a together account for 31% of the resources, while Lublin and Szczecin account for the remaining 6%.    <\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>Less than 203,000 sqm remains under construction, down 26% from a year ago. By comparison, annual average volumes from 2015-2019 reached 908,000 sqm, and from 2020-2024 - 522,000 sqm. Such a pronounced reduction in new investments may result in a further decline in available space in the coming quarters, and thus also in a reduction in leasing options for tenants.<\/p>\n<!-- \/wp:paragraph --><!-- wp:heading {\"level\":3,\"translatedWithWPMLTM\":\"1\"} -->\n<h3 class=\"wp-block-heading\" id=\"PUSTOSTANY\"><strong>PUSTOSTANS<\/strong><\/h3>\n<!-- \/wp:heading --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>At the end of March, the regions had 1.18 million sq. m. of vacant space, translating into an average vacancy rate of 17.5% (down 0.3 p.p. y\/y). Five cities had vacancy rates of at least 15%, and these were \u0141\u00f3d\u017a (22.3%), Katowice (21.1%), Wroc\u0142aw (20.4%), Krak\u00f3w (14.6%) and Pozna\u0144 (15.0%). Space availability was lower in the remaining cities, with the rate between 8% in Szczecin and 12.6% in the Tri-City.   <\/p>\n<!-- \/wp:paragraph --><!-- wp:quote -->\n<blockquote class=\"wp-block-quote\"><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>-  <em>Limited supply puts landlords in a fairly comfortable position, as it potentially opens up room for rental growth in the near term. Nevertheless, with the current high vacancy rate and strong competition, successful commercialization today requires extremely active efforts to attract and retain tenants <\/em><\/p>\n<!-- \/wp:paragraph --><cite><strong>Daniel Czarnecki<\/strong>, Head of Landlord Representation, Office Agency, Savills.<\/cite><\/blockquote>\n<!-- \/wp:quote --><!-- wp:heading {\"level\":3,\"translatedWithWPMLTM\":\"1\"} -->\n<h3 class=\"wp-block-heading\" id=\"POPYT-I-SEKTORY-NAP&#x118;DZAJ&#x104;CE-RYNEK\"><strong>DEMAND AND SECTORS DRIVING THE MARKET<\/strong><\/h3>\n<!-- \/wp:heading --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>Despite scant new supply, demand in regional cities remained strong, reaching 176,900 sqm in the first quarter. This is 27% better than a year ago and 17% above the average for the first quarters of 2020-2024. Tenants were particularly active in Krakow (56,600 sq m) and Wroclaw (43,800 sq m). Higher gross demand than in the same period last year was also recorded in the Tri-City, Katowice, Pozna\u0144 and Lublin.   <\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>Four industries - IT, business services, manufacturing and finance - generated a total of 58% of total demand. The IT sector had the largest share (18%), just ahead of business services (16%), manufacturing (14%) and finance (10%). 5% went to flex office operators, who chose to expand their business in the regions. The structure of transactions shows that almost half of the volume was accounted for by renegotiations of existing contracts (48%), while new contracts accounted for 41%. In addition, there was an 8% share of expansions and 3% of pre-leases.    <\/p>\n<!-- \/wp:paragraph --><!-- wp:quote {\"translatedWithWPMLTM\":\"1\"} -->\n<blockquote class=\"wp-block-quote\"><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>-  <em>  The average regional vacancy rate is still around 18%, which may give a false sense of comfort, but with historically low new supply, this \u201ccushion\u201d may shrink faster than it seems. Companies planning to expand or relocate should therefore book space well in advance and finalize contracts quickly to secure the best locations and terms   <\/em>-  <\/p>\n<!-- \/wp:paragraph --><cite><strong>Jaroslaw Pilch<\/strong>, Head of Tenant Representation, Office Agency, Savills.<\/cite><\/blockquote>\n<!-- \/wp:quote --><!-- wp:heading {\"level\":3,\"translatedWithWPMLTM\":\"1\"} -->\n<h3 class=\"wp-block-heading\" id=\"CZYNSZE-I-KOSZTY-EKSPLOATACYJNE\"><strong>RENTS AND OPERATING COSTS<\/strong><\/h3>\n<!-- \/wp:heading --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>Base rates in A-class office buildings in the regions were between EUR 12.00 and EUR 17.00\/sqm\/month. The highest rents are in Pozna\u0144 (up to EUR 17), followed closely by Krak\u00f3w and Wroc\u0142aw (up to EUR 16.50). Maintenance fees, as a rule, do not exceed 37 PLN\/sq.m.\/month, although their amount depends mainly on the efficiency of the building.<\/p>\n<!-- \/wp:paragraph --><!-- wp:heading {\"level\":3,\"translatedWithWPMLTM\":\"1\"} -->\n<h3 class=\"wp-block-heading\" id=\"PERSPEKTYWY\"><strong>PERSPECTIVES<\/strong><\/h3>\n<!-- \/wp:heading --><!-- wp:quote {\"translatedWithWPMLTM\":\"1\"} -->\n<blockquote class=\"wp-block-quote\"><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>-  <em>By the end of 2027, developers say they will have delivered up to 475,000 sq. m. of new space. The vast majority of this space may not hit the market until the final year of the forecast. Much, however, depends on market conditions, i.e. further decline in office availability, increased tenant activity and access to financing for projects, among others       <\/em>-<\/p>\n<!-- \/wp:paragraph --><cite>  comments <strong>Wioleta Wojtczak<\/strong>, Head of Research, Savills.<\/cite><\/blockquote>\n<!-- \/wp:quote --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>The current market situation favors owners of the best-located and sustainable buildings, but at the same time raises the bar for planned projects - only those of the highest standard, well connected and with confirmed demand in the form of pre-leases - will have a chance for commercialization.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>Download the report: <a href=\"https:\/\/pdf.euro.savills.co.uk\/poland\/pl-research\/savills-mim-office-regions-q1-2025.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Savills MiM Office Regions Q1 2025<\/a><\/p>\n<!-- \/wp:paragraph -->","post_title":"Regional offices under pressure from limited supply","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"regional-offices-under-pressure-from-limited-supply","to_ping":"","pinged":"","post_modified":"2025-08-27 14:08:02","post_modified_gmt":"2025-08-27 12:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/savills.przemeknova.usermd.net\/regional-offices-under-pressure-from-limited-supply","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11761,"post_author":"2","post_date":"2025-04-14 13:16:00","post_date_gmt":"2025-04-14 11:16:00","post_content":"<!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p><strong>REBRANDING AND SPACE REFRESH<\/strong><\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>The new name and identity, along with the image change, are meant to emphasize the balance between modern technological solutions and care for comfort and environment, which the building \u2013 <em>formerly Atrium 1, now Wise Point<\/em> \u2013 has always had in its DNA.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>The name change to Wise Point is not just a new visual identity, but primarily a refresh of the property. As part of this process, refreshing the lobby and halls has been planned, as well as designing the creation of green space around the building. The concept was created by Artchitecture design studio. The firm founded by Marek Kubaczek was involved in projects including: the Warsaw boulevards project, which won the Grand Prix of the Warsaw Mayor's Architectural Award for best public space, and collaboration with Daniel Libeskind on the luxury apartment building Z\u0142ota 44 project. It also has the recent renovation project of the North Gate office building to its credit, including a facelift of public spaces and application of the \"urban jungle\" concept.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>Modernization work will also include technological systems. The building, constructed in 2013 by Skanska Property Poland, utilizes solutions including a geothermal heating and cooling system with probes reaching 200 m deep into the ground, photovoltaic panels, and a gray and rainwater recovery system \u2013 solutions that save over 7 million liters of water annually, equivalent to two Olympic swimming pools. Additionally, the planned modernization of the BMS (building management system) will allow for even more efficient automation control and precise data analysis in Wise Point, which will further reduce operational costs and improve tenant comfort.   <\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p><strong>LOCATION ADVANTAGES<\/strong><\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>Located at the UN Roundabout, Wise Point offers excellent access to public transportation \u2013 the metro station is just 100 meters from the building, and numerous tram and bus lines provide easy access. Additionally, there is extensive service infrastructure in the immediate vicinity, including restaurants, cafes, and bike paths, making the property a good workplace for dynamic companies. <\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>-  <em>The rebranding and major facelift of Wise Point is a response to the needs of companies that value efficiency and sustainable development, while seeking a top location and proven solutions. Investments in modern technologies and eco-friendly systems make the building an even more attractive workplace in central Warsaw. The changes and new opening of Wise Point to the market coincide with the release for lease of over 17,000 sq m   sq. m. of space<\/em>  \u2013 adds Lidia Malec, Associate Director at advisory firm Savills, which is the exclusive agent responsible for leasing space in the building.<\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>The available space is distributed across 14 floors. Typical floor sizes from 1,200 to 1,400 sq m offer various arrangement possibilities, allowing offices to be tailored to the needs of companies of different sizes.  <\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p><strong>INVESTMENT IN THE FUTURE<\/strong><\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>The building's transformation is not just an image change, but also an investment in modern solutions that affect energy efficiency and work comfort. Wise Point combines tradition with innovation, offering space ideal for companies seeking a stable and friendly business environment in the capital's center. <\/p>\n<!-- \/wp:paragraph -->","post_title":"From Atrium 1 to Wise Point: how an Office Building in Central Warsaw Changes its Name and Welcomes Tenants","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"from-atrium-1-to-wise-point-how-an-office-building-in-central-warsaw-changes-its-name-and-welcomes-tenants","to_ping":"","pinged":"","post_modified":"2025-08-27 14:14:22","post_modified_gmt":"2025-08-27 12:14:22","post_content_filtered":"","post_parent":0,"guid":"https:\/\/savills.przemeknova.usermd.net\/from-atrium-1-to-wise-point-how-an-office-building-in-central-warsaw-changes-its-name-and-welcomes-tenants","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":20094,"post_author":"2","post_date":"2024-12-06 14:35:53","post_date_gmt":"2024-12-06 13:35:53","post_content":"<!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>The new-old tenant of the office building is the Company Development Fund S.A. (FRS). The state-owned company, responsible for asset management in the shipbuilding sector, has leased 466 sqm of space. The return of FRS to North Gate after time is proof that the location, standard of the office building and its management are highly appreciated by tenants who have worked and are working in the building.   <\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>RLG Systems Poland has also located its headquarters at Bonifraterska Street. The environmental consulting company, which is part of the RLG Group, has leased 300 sqm of space. The choice of North Gate for the new office proves that the building meets ecological requirements, crucial for tenants in the environment-related industry. Adriana Binkiewicz of Brookfield Partners agency represented the company in the transaction.     <\/p>\n<!-- \/wp:paragraph --><!-- wp:quote {\"translatedWithWPMLTM\":\"1\"} -->\n<blockquote class=\"wp-block-quote\"><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>-  <em>We see the return of the Company Development Fund to North Gate as a recognition of the building's quality. The fact that the tenant has again chosen this location proves that the building, despite the passage of years, meets the highest standards of modern office buildings. The office building's assets, such as its convenient location with good access to public transportation, modern amenities and ecological solutions confirmed by the BREEAM In-Use certificate at the Excellent level, will certainly contribute to the work comfort and further development of both new tenants  <\/em>  \u2013  <\/p>\n<!-- \/wp:paragraph --><cite>says <strong>Monika Wakulska<\/strong>, Associate Director, Office Space, Savills Poland.<\/cite><\/blockquote>\n<!-- \/wp:quote --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>North Gate is a nearly 90-meter high Class A office building located at 17 Bonifraterska Street in Warsaw. The building offers 29,000 sq. m. of leasable office space, has a five-level parking garage for 310 vehicles and extensive cycling facilities with lockers and showers on level -1. It is BREEAM In-Use certified at the Excellent level, confirming its commitment to sustainability and the highest environmental standards.    <\/p>\n<!-- \/wp:paragraph --><!-- wp:paragraph {\"translatedWithWPMLTM\":\"1\"} -->\n<p>The building's location provides convenient access to public transportation - streetcar and bus stops and the Dworzec Gda\u0144ski subway station are nearby. The building's proximity to green areas, such as Romuald Traugutt Park, as well as numerous service and retail outlets, including the Westfield Arkadia Shopping Center, adds to the comfort of employees' daily life.  <\/p>\n<!-- \/wp:paragraph -->","post_title":"North Gate office building with new leases","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"north-gate-office-building-with-new-leases","to_ping":"","pinged":"","post_modified":"2026-01-16 09:29:39","post_modified_gmt":"2026-01-16 08:29:39","post_content_filtered":"","post_parent":0,"guid":"https:\/\/savills.przemeknova.usermd.net\/north-gate-office-building-with-new-leases","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"wstep":"<p>The availability of office space is declining in Warsaw&#8217;s office real estate market. According to real estate consultancy Savills, the vacancy rate in the city as a whole has dropped to 10.6%, and in the center itself to just over 9%. Tenants will be able to count on more choice as more office projects unfreeze. This process is slowly beginning, as indicated by the increase in the amount of space under construction.   <\/p>\n"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Savills: decline in vacancies and gradual return of development activity in the Warsaw office market - Officemarket.pl by Savills<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Savills: decline in vacancies and gradual return of development activity in the Warsaw office market - Officemarket.pl by Savills\" \/>\n<meta property=\"og:description\" content=\"According to Savills&#8217; latest report, the total stock of modern office space in Warsaw at the end of September 2023 was 6.2 million sqm. 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