According to “Office Occupier: Office Market in Poznań”, a report published by real estate advisory firm Cresa Poland, total take-up reached 19,600 sqm, up by 14% on the same period last year, and accounted for 9% of the annual average for 2015-2020. Renegotiated leases in H1 made up 57% of that total, followed by new leases and expansions (33% and 10%, respectively).
At the end of the first half of 2021, Poznań’s office stock totalled 618,700 sqm, up by 6.3% year-on-year. The second quarter of 2021 saw the completion of building D of Skanska’s Nowy Rynek, the first office project delivered to the Poznań market this year.
“Among the eight core regional city office markets in Poland, Poznań came fourth in terms of modern office stock after the first half of 2021,” says Iga Kraśniewska, Research Manager at Cresa Poland.
Leasing activity in the first half of 2021 reached 19,600 sqm, up by 14% on the same period last year. In the second quarter alone, gross take-up hit 14,900 sqm, representing an over threefold increase year-on-year. Renegotiated leases in Q2 accounted for 49% of that total, followed by new leases and expansions which made up 38% and 13%, respectively.
The largest office transactions in H1 2021 in Poznań included: a pre-let agreement signed by a confidential tenant from an IT sector in Andersia Silver (3,500 sqm), a renegotiation by Sii in the Maraton building (3,400 sqm) and a renegotiation in the Business Garden B1 (a confidential tenant from a BSS sector, 3,300 sqm).
Absorption in the January-June period reached close to 32,000 sqm, representing an almost fivefold increase on the same time last year. In the second quarter alone, it amounted to as much as 29,000 sqm as a result of a relatively small increase in vacancies and the delivery of a new office building with a low vacancy rate.
The vacancy rate stood at 12.9% at the end of June 2021, up by 0.4 pp quarter-on-quarter but down by 1.6 pp year-on-year.
Asking rents range between EUR 12.5–15.7/sqm/month in Poznań’s city centre, and EUR 11–14,5/sqm/month outside city centre.
Cresa is the world’s largest commercial real estate advisory firm that exclusively represents occupiers and specializes in the delivery of fully integrated real estate solutions. It serves clients through more than 80 global offices. Cresa Poland offers unbiased, independent commercial real estate advice. Its integrated services include conflict-free tenant representation, capital markets, market research and advisory, valuation, design & project management and workplace strategy. To learn more, please visit: www.nmrk.pl
