The total volume of office stock makes Wrocław third in terms of market size in Poland. Tenant interest in lower Silesia's capital remains at a high level - in H1 2015 ca. 46,400 m² of office space was leased. More than 70% of demand came from the business services sector.
Katarzyna Krokosińska, Senior Consultant, Office Agency and Tenant Representation at JLL, responsible for the Wrocław market, said: "The total office stock in Wrocław exceeds 640,000 m², which makes the lower Silesia's capital third in the country, after Warsaw and Krakow, in terms of market size. In H1 2015, developers completed almost 43,900 m² of offices, with the largest projects commissioned for use in this period being the West Gate -16 ,000 m², and Dominikański A - 14,000 m²".
Developer activity remains at a high level. In Wrocław, more than 170 000 m² of office space is under construction, with the biggest project currently implemented being the first phase of Business Garden Wrocław (37,700m²).
The increased developer activity is created by high occupier demand. Lease agreements for 46,400 m² were concluded in H1 2015. The largest contracts were signed by confidential tenants. But large deals concluded by 3M in Dubois 41 (5,000 m²) or Opera Software in Hieronimus (4,400m²) are also noteworthy.
"The key tenant of the offices in Wrocław - as in other major cities outside Warsaw - remains the business services sector. Companies from this industry accounted for more than 70% of demand registered in Lower Silesia's capital in H1 2015," adds Katarzyna Krokosińska.
The development of companies from the business services sector already present in Wrocław and the inflow of new investments generate growth in the office market and encourage developers to start new projects. This trend will continue as Wrocław remains a very attractive location for projects in this sector.
Source: JLL
