Putting its name on the map
This is according to research carried out by Cushman & Wakefield Healey & Baker (CWHB) for its Warsaw Business Space 2005 map, which it recently published. The plan, the seventh of its kind, is divided into three different sections: A- and B-class office buildings in Warsaw's Central Business District (CBD); A- and B-class office buildings beyond the CBD; and A- and B-class office buildings in the Mokotów district.
According to Mathieu Gigure, the head of advisory services at CWHB: "The division of non-central locations of Warsaw into more detailed zones than last year enables us to provide a more precise presentation of office-space concentration, investment demand and occupier trends across the whole market. In 2005 there will be again more space completed in non-central locations [approximately 190,000 sqm] than in the CBD [approximately 25,000 sqm]. The annual office space supply should be 33 percent higher than in 2004. However, it should not increase the vacancy rate, as the demand for office space should be maintained at a good level this year." CWHB estimates the office-vacancy rate in Warsaw at 11.8 percent at the end of 2004.
Some 129 buildings, in various stages of construction and/or completion, are shown in the CBD, with a further 207 developments outside the city center also on the map. Business parks are counted as one project, in most cases, and the Mokotów district was given its own area owing to the high number of office buildings being constructed there.
Some 112 existing office buildings are shown in the CBD, with seven under construction, and 10 in the advanced stages of the planning process. Outside of this area, there are 168 buildings up and running, 20 under construction and 19 nearing the end of the planning process.
The map is also split into several zones, divided according to the rates of office-space concentration, ranging from 80,000-180,000 sqm in the CBD. Outside of the center, there are 18 zones, with sizes of 20,000-200,000 sqm. Unsurprisingly, the highest rate of office concentration for the CBD is in the area between ul. Marszałkowska, Al. Jerozolimskie, ul. Towarowa and Al. Solidarnoci, with the highest office-space concentration outside the CBD in the area around Mokotów.
According to Mathieu Gigure, the head of advisory services at CWHB: "The division of non-central locations of Warsaw into more detailed zones than last year enables us to provide a more precise presentation of office-space concentration, investment demand and occupier trends across the whole market. In 2005 there will be again more space completed in non-central locations [approximately 190,000 sqm] than in the CBD [approximately 25,000 sqm]. The annual office space supply should be 33 percent higher than in 2004. However, it should not increase the vacancy rate, as the demand for office space should be maintained at a good level this year." CWHB estimates the office-vacancy rate in Warsaw at 11.8 percent at the end of 2004.
Some 129 buildings, in various stages of construction and/or completion, are shown in the CBD, with a further 207 developments outside the city center also on the map. Business parks are counted as one project, in most cases, and the Mokotów district was given its own area owing to the high number of office buildings being constructed there.
Some 112 existing office buildings are shown in the CBD, with seven under construction, and 10 in the advanced stages of the planning process. Outside of this area, there are 168 buildings up and running, 20 under construction and 19 nearing the end of the planning process.
The map is also split into several zones, divided according to the rates of office-space concentration, ranging from 80,000-180,000 sqm in the CBD. Outside of the center, there are 18 zones, with sizes of 20,000-200,000 sqm. Unsurprisingly, the highest rate of office concentration for the CBD is in the area between ul. Marszałkowska, Al. Jerozolimskie, ul. Towarowa and Al. Solidarnoci, with the highest office-space concentration outside the CBD in the area around Mokotów.
