BIP
Wroclaw office market
Wroclaw remains as the third largest office market in Poland, after Warsaw and Krakow. It is also one of the only 3 regional office markets to exceed 1 mln sqm, with almost 1,378,400 sqm of modern space present as at the end of Q2 2024. During last 5 years it was also one of the fastest developing regional markets in Poland, adding almost 385,000 sqm of new office space since Q2 2019, which constitutes an increase of over 16%.
Vacancy in Wroclaw office market
Vacancy in Wroclaw remains relatively high, reaching 18.25% at the end of the second quarter of 2024. This translates to approximately 251,500 sqm of space readily available for rent, leaving a lot of possibilities for new tenants.
The newest buildings, completed within last 5 years remain in the process of commercialisation with 25.86% of the space remaining available for tenants. This translates into 64,100 sqm still available in the newest schemes.
Asking terms and conditions
- Standard asking rents in primary locations: 13.00-16.00 EUR/sqm/month
- Standard asking rents in secondary locations: 11.00-13.00 EUR/sqm/month
- Standard rental period: 36-60 months
- Standard service charge: 3.50-5.80 EUR/sqm/month
- Typical rent free period: 5-10 months
- Typical shell & core cash contribution: 500-650 EUR/sqm
Wroclaw office market definitions – how it works?
- tenant/ lessee – (it is) your company,
- landlord/ lessor – (it is) the owner of the building,
- headline rent - usually reflected in EUR, alternatively in PLN; determination of the rent in EUR is related to the valuation of an office building,
- net/gross area - the net area is the real area directly used only by your company for office and storage purposes, the gross area is the net area plus add on – this is the factor determining the share in the area jointly used by your company and your neighbours,
- service charge – fees related to maintaining the building in a proper state (eg. cleaning common parts of the building, reception, building security, taxes etc.),
- media / utilities – in addition (to the service charge) charged fees for directly consumed utilities by your company (water and sewage, electricity, heating),
- rent-free – incentive offered by the landlord in the form of exemptions from payment of rent for a specified period of time,
- cash contribution - an incentive provided by the landlord in the form of a cash contribution towards office space fit-out
- securing the lease agreement (lease collateral) – usually in the form of deposit or bank guarantee in the amount of 3-month rent (for offices, parking places) and service chargé + VAT.
