Colliers International presents a summary of the first quarter of 2020 on the office market in Gliwice
Warsaw, June 8, 2020 – According to the data of the advisory company Colliers International, there is over 93,000 sq m of modern office space in Gliwice. In the first quarter of 2020 an office building at 47B Bojkowska Street with an area of 3,300 sq m was commissioned for use, and in the planning phase, with an expected completion date by the end of 2022, there is nearly 50,000 sq m of office space.
The vacancy rate in Gliwice for class A and B buildings at the end of Q1 2020 stood at 8.8%, which translates into 8,200 sq m of available office space. Average rents in existing class A buildings are in the range 11-13.8 EUR/m2/month, while in class B buildings they oscillate around 7-11 EUR/m2/month.
Gliwice chases Katowice
Gliwice is currently second city after Katowice in terms of the number of office projects in the Górnośląsko-Zagłębiowska Metropolis. In recent years, we have observed the rapid development of the Gliwice market, which has resulted in growing interest in the city. High development potential and business friendliness is confirmed, among others, by the prestigious ranking fDi's Polish Cities of the Future 2019/2020, which examines the development of urban centres around the world.
Transactions signed in 2019 in Gliwice include lease agreements in the building at Dworcowa 25 signed by ista Shared Service (approx. 2,100 sq m) and PKO BP (approx. 420 sq m), the Valmet contract in the Bojkowska 47 building (approx. 2,000 sq m), the agreement by the private school TEB Edukacja, which leased the entire building at Chorzowska 12 (over 1,500 sq m) and the contract of SII in the building at Zygmunta Starego 24 (approx. 156 sq m). All these transactions were new agreements. In Q1 2020, mentioned earlier ista Shared Service signed a pre-lease contract in the planned DL Center Point Gliwice building.
„In addition to Katowice, Gliwice is another example of a dynamically developing urban centre in Upper Silesia, which attracts foreign and local investors. New and planned office projects do not differ from office buildings operating in the largest cities in Poland in terms of quality and so they fully meet the growing needs of tenants,” said Barbara Pryszcz, Katowice Regional Director in Colliers International.
Demand for office space in Gliwice is generated mainly by companies from the business services sector, IT companies as well as industries related to new technologies. Demand is also created by numerous start-ups established by graduates of the Silesian University of Technology.
The universities of Gliwice and Katowice provide companies with large resources of qualified staff which attracts new investors both in technical sciences and in the sector of modern business services. Currently 18,900 people study in Gliwice.
The Silesian voivodeship offers very good transport links, being crossed by the trans-European corridor III (Berlin – Wrocław – Katowice – Kraków – Lwów) and corridor IV (Gdańsk – Katowice – Żylina) routes. The region also boasts a very well-developed road network. In Gliwice, two motorways intersect (A1 and A4). In 2016, the Intercity Road (DTŚ) connecting Katowice and Gliwice was completed. The southern and western bypass is currently under construction.
The office buildings are located mainly in the central part of the city and in the area of Nowe Gliwice and the special economic zone, in close proximity to Intercity Road (DTŚ), ensuring excellent transport accessibility.
The potential of Gliwice is being increasingly recognised by developers, which translates into a systematic increase in office investments in the city. In the coming years, we forecast further market development and growing interest from tenants.
Full report "Gliwice Office Market" for download: https://www2.colliers.com/en-PL/Research/Gliwice-Office-Market-Q1-2020