According to Cresa Poland report “Occupier Economics: Office Market in Poznań H1 2020”, office take-up topped 17,200 sqm in the January-June period, accounting for 28% of the annual average for 2015- The leading sectors in Q2 2020 were banking and IT, which generated 38% and 31% of the leasing volume, respectively.
Poznań’s office stock expanded to nearly 582,000 sqm at the end of June 2020, up by 5% year-on-year. Although no new office building was delivered to the Poznań market in Q2 2020, Skanska’s Nowy Rynek D is currently underway.
The largest office deals in H1 2020 in Poznań included: a pre-let lease by Rockwool in Nowy Rynek D (6,000 sqm), an expansion by GSK in Business Garden Poznań B6 (3,400 sqm) and a new lease in Business Garden Poznań II signed by PKO BP (1,600 sqm).
“Absorption turned negative in the first half of 2020, amounting to -8,100 sqm. Close to 10,000 sqm of office space was vacated in Q2 2020. No substantial volumes of new supply are on the cards for the Poznań market, with supply and demand likely to reach a long-term equilibrium any time soon,” says Bolesław Kołodziejczyk, PhD, Head of Research & Advisory, Cresa Poland.
The city’s vacancy rate stood at 14.5% at the end of H1 2020, up by 2.4 pp on the same period last year.
Asking rents range between EUR 13.5–16.5/sqm/month in Poznań’s higher class office buildings, with lower class buildings commanding rents of EUR 10,5–13/sqm/month.
