From January to the end of September 2023, the total demand for modern office space in Warsaw amounted to nearly 0.5 million sqm. Tenants often choose two contract options, i.e., they relocate to a new space or decide to renegotiate existing terms. The vacancy rate is decreasing, standing at 10.6% at the end of September 2023. On the supply side, developers delivered just over 20,000 sqm to the capital's office market in January-September 2023, indicating a supply gap period in Warsaw. Nevertheless, more than 240,000 sqm is under construction, most of which will be completed by the end of 2025, says Axi Immo.
Despite a supply gap and a low level of new completions (18,700 sqm in H1), there is a lot of optimism in the capital’s office market. Over 230,000 sqm is scheduled to be delivered in the next three years, which will significantly increase the amount of office space available to let. On the demand side meanwhile, we observe a relatively high occupier demand, whereby 2/3 of all agreements signed in H1 were new leases. AXI IMMO presents market data for the first half of 2023.
The coworking brand Brain Embassy is launching its fifth location in Warsaw. Architectural design of the reconstruction of the building at ul. Czackiego 15/17 was developed by the Archicon studio, and the interior design was prepared by a team of architects from Poznań from the mode: lina studio. The building has six floors and offers 3.9 thousand. sq m surface.
GP Strategies Poland, a provider of sales and technical training, e-learning and management consulting, will move into a new office in the Ocean Office Park in Krakow. The American company has leased almost 580 sq m from Cavatina Holding. class A office space
Vastint Poland has expanded the services it offers with the rental of fully furnished flexible office space. Modules are available with areas of 300 sqm to 400 sqm.
IWG, an operator of flexible and coworking spaces, operating, among others under brands such as Regus and Spaces, signed his first franchise agreement for a location cluster in Poland. The contract was concluded with the L&L Club company, and under it, IWG will expand its operations to south-eastern Warsaw and its suburbs, opening five new centers under the Regus brand.
To maintain efficiency and secure business continuity, companies must take measures to adapt their offices to the current epidemiological situation. Skanska advises on how to arrange a workplace to be safe and user-friendly, even in conditions of a strict sanitary regime.
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