Tri-City – Office Market
Q4 2011
Office stock & construction activity (excl. Warsaw)
sq m
600 000
500 000
400 000
300 000
200 000
100 000
0
Cracow
Wroclaw
Existing
Tri-City
Katowice
Poznan
Lodz
Under Construction (excl. projects 'on hold' )
Source: Jones Lang LaSalle, data as of Q4 2011
2
Office stock and vacancy rate
sq m
(changes q-o-q)
500 000
25%
450 000
23%
400 000
19.10% 20%
 The vacancy rate in Poland
ranges between 3.4% in
18%
Wroclaw to 19.1% in Lodz.
15%
350 000
300 000
250 000
200 000
150 000
 Vacancy rates (q-o-q)
registered in most regional
10%
markets have stabilized.
13%
11.50%
9.50%
8.40%
8.00%
8%
100 000
5%
3.40%
50 000
3%
0
0%
Cracow
Wroclaw
Tri-City
Stock
Katowice
Poznan
Lodz
Vacancy Rate
Source: Jones Lang LaSalle, data as of Q4 2011
3
Headline rents in prime locations
Warsaw Centre
Poznan
Cracow
Warsaw Non
Wroclaw
Gdynia
Gdansk, Sopot
Katowice
Lodz
10
15
20
25
(EUR/sq m/month)
Source: Jones Lang LaSalle, data as of Q4 2011
4
Tri-City: Projects under construction
City
Project
Gdansk
BCB – Building B1
8 900 sq m
Q2 2012
Gdansk
Garnizon.biz – Gamma & Omega
8 000 sq m
Q2 2012
Gdansk
Nordika
6 000 sq m
Q2 2012
Gdansk
OPERA Office
7 500 sq m
Q3 2012
Gdansk
Olivia Point & Tower
21 500 sq m
Q4 2012
Gdansk
Neptun Office Centre
15 300 sq m
Q1 2014
Total
Office Space
Completion
67 200 sq m
* Table does not include Science and Technology Parks
Source: Jones Lang LaSalle, data as of Q4 2011
5
Tri-City: Market forecast
Annual supply planned by dev elopers
Realistic annual supply
sq m
Prime headline rents (av erage) at y ear end
Forecast*
19
17
15
€/ sq m/month
90 000
80 000
70 000
60 000
50 000
40 000
30 000
20 000
10 000
0
13
2012
2011
2010
2009
2008
2007
2006
11
* Forecast does not include Technology Parks
Source: Jones Lang LaSalle, data as of Q4 2011
6
Tri-City: Summary
Modern Office Stock
Vacancy Rent
349 700 sq m
8.4%
Completions in 2008
53 500 sq m
Completions in 2009
18 900 sq m
Completions in 2010
28 500 sq m
Completions in 2011
33 000 sq m
Projects Under Construction
67 200 sq m
Prime Headline Rents (€/ m2/
month)
12.00-14.00
Source: Jones Lang LaSalle, data as of Q4 2011
7
Thank you!
Magdalena Reńska
Head of Office Agency, Gdansk
ul. Kaprów 19/28, 80-316 Gdansk
Mob. +48 602 116 816
[email protected]
Eurobuild Awards 2011 winner in 4 categories:
Investment Agency Team of the Year, CEE
Office Agency Team of the Year, Poland
Retail Agency Team of the Year, Poland
Warehouse Agency Team of the Year, Poland
The Eurobuild Awards recognize and reward the success and dynamism on the real estate market in Poland
and the wider CEE region. The event gathered 170 senior real estate and business professionals and the
voting process was independently monitored by KPMG.
This publication is the sole property of Jones Lang LaSalle IP, Inc. and must not be copied, reproduced or transmitted in any form or by any means, either in whole or in part, without the prior written consent of Jones
Lang LaSalle IP, Inc. The information contained in this publication has been obtained from sources generally regarded to be reliable. However, no representation is made, or warranty given, in respect of the
accuracy of this information. We would like to be informed of any inaccuracies so that we may correct them. Jones Lang LaSalle does not accept any liability in negligence or otherwise for any loss or damage
suffered by any party resulting from reliance on this publication.
COPYRIGHT © JONES LANG LASALLE IP, INC. 2012