Warsaw, October 25, 2016 – The total modern office stock in Łódź accounts for approximately 350,000 sqm. Currently, at the end of Q3 2016 there are 67 modern office buildings in the city and a key characteristic of the Łódź office market is the relatively high share of post-industrial properties adapted to a modern standard for office purposes - according to Colliers International publication “Office market | Łódź” summarizing the Q3 2016.
Since the beginning of 2016, the demand for office space totaled 30,000 sqm after record breaking level of 63,500 sqm in the previous year. More than half the contracts signed in 2016 were new transactions.
“Łódź is on a roll. For several years now we have seen a visible growth on both the supply and the demand for office space. The improvement of the image of Łódź achieved through the successful urban and regional investments, combined with a high human potential and a great location has brought new investors, also in the office sector” - said Marcin Włodarczyk, regional director of Colliers International in Łódź.
Nearly 90% of the existing supply is located in the central part of the city, along its west - east corridor. The remaining 10% of the stock is located outside the Central District within two areas: the northwest area of Teofilów and the south-east zone Dąbrowa.
The vacancy rate remains below 10% despite the high level of completions – in last five years almost 115,000 sqm has been delivered. Rent levels in Łódź are competitive in comparison to major regional cities. In older and lower class buildings asking rents are at EUR 8-11/sqm per month, whereas new projects have asking rents of EUR 12-13.5/sqm per month.