Cushman & Wakefield summarized the first half of 2014 on the commercial market in Poland, including the office market in Katowice.
Total modern office stock in Katowice stood at 324 781 sq. meters at the end of the second quarter this year, what makes the City fourth largest regional office market in Poland. 25 585 sq. meters of office spaces were leased in Katowice in the first half of 2014. UPC’s renewal of 6 500 sq. meters in Green Park was the second largest lease transaction in regional cities in H1 2014. Also, Katowice enjoyed the second lowest vacancy rate (5,4%) after Kraków.
The largest completion in Katowice was the first building of A4 Business Park (8 682 sq. meters) and Stern – the second building of GPP Business Park (7 500 sq. meters).
“The noted low vacancy level in regional cities, in particular in Kraków and Katowice, is a positive sign for the schemes’ owners and developers. Tenants seeking large space in cities outside Warsaw will be able to choose from a relatively large number of new projects, currently in the pipeline or under construction” – says Richard Aboo, Partner, Head of Office department of Cushman & Wakefield.
The analysts indicate a revival in all property sectors and optimism returns amongst most key players to pre-recession levels.