2.5 million sq m of office space in Poland occupied by BSC
Companies from the business services sector occupy a significant percentage of office stock in Kraków, Łódź, Wrocław and Katowice
Business services centres occupy more than 2.5 million sq m on the Polish office market according to new estimates by JLL. Traditionally, business services sector has the highest percentage of occupied office space in Kraków (61%).
“Today, business service centers occupy more than 2.5 million sq m of modern office space, accounting for 28% of occupied supply on the Polish market. Judging by the high investment activity of business services centres, the next few months will see them further cementing their position as leaders on the Polish office market. According to ABSL, employment in business services centers stands at nearly 280,000 people, with the prospect of another 60,000 jobs being added in the next two years. Such rapid development will generate further demand for space. This is of course excellent news for developers operating on the Polish market”, comments Anna Młyniec, Head of Office Agency and Tenant Representation at JLL.
According to data from JLL, Kraków, as previously mentioned, accounts for the sector's largest share of occupied office space in a Polish city (61%). Łódź takes second place with 51%, followed by Wrocław and Katowice with 49%. Interestingly, in Warsaw, the share of the services sector in occupied office space is now 11%, which is a two p.p. increase on the same period last year - an impressive number when you consider the scale of the capital's market.
||The share of the business services sector in occupied space
Source: JLL, ABSL, www.bazabiur.pl, 2018
“We expect that the number of companies from the business services sector investing in Warsaw will grow. Company debuts on the city's market such as JP Morgan and Goldman Sachs are important signals for international investors who provide advanced financial services. It shows that the Warsaw market is very much in expansion mode. The investment attractiveness of Polish cities continues to grow and this factor combined with the efforts of local authorities, the changes in urban infrastructure ,and an improvement in the quality of life are all conducive to this process”, explains Mateusz Polkowski, Head of Research & Consulting, JLL.
JLL is the leading advisory agency in the area of office real estate in Poland and the undisputed leader in the field of representation of companies from the modern business services. Last year, JLL advised on negotiations of lease agreements for companies from the industry totaling approx. 140,000 sq m