Space in Wrocław
Wrocław is a major city in the South West of Poland, some distance from the capital and its two biggest developers are FIG (Financial Investment Group) and Archicom. FIG is responsible for three modern buildings and several modernised houses around the market square, which is in the very center of the city. Archicom owns Renaissance Business Centre and Quattro Forum, which was the only major office investment in Wrocław in 2003. According to Knight Frank, there are 80,000 square meters of modern office space in the city, of which around 15 percent is unoccupied.
The 9,000 square meter Quattro Forum is also the only office building in Wrocław which fulfils all the formal criteria for a Class A building, as all other office stock in the city is considered Class A/B+. The building offers tenants space ranging from 80-150 square meters to over 1,500 square meters and over 50 percent of its total is already leased. It charges rents of zł.48.7 (€10) per square meter and tenants pay zł.12.6 (€2.6) per square meter for services. Between 2001 and 2002, average rents dropped significantly in Wrocław, from a level of zł.87.6 (E18) per square meter. In that time approximately 90 percent of the leases in the city were renegotiated and no major changes in occupancy rates are forecast for the near future.
According to Knight Frank, the vast majority of modern office buildings in Wrocław is located around the market square but there are also some quality buildings in the western part of the city, and Quattro Forum and the Western Centre of Business can be found here, not far from the airport.
The major tenants in Wrocław are banks, financial institutions, law firms and IT companies, whose office requirements range from 200 to 300 square meters. The major deals over the past year, however, include the leasing of around 4,000 square meters to Nationale Nederlanden and the ING Group, in a new office building at Szewska 72 near the market square, 1,300 square meters to Volkswagen Bank at Millennium Tower, 1,300 square meters to IMG, an IT firm, and 800 square meters to Deichmann, both at Quattro Forum.
New office developments in Wrocław this year include Temida, which is located near the District Court, and which will be leased mainly to law firms. It will consist of 2,300 square meters of class A/B+ space and the developer is the IT firm Surfland. The end of 2005 will witness the arrival of NCC Forum, which will also contain retail space.
The 9,000 square meter Quattro Forum is also the only office building in Wrocław which fulfils all the formal criteria for a Class A building, as all other office stock in the city is considered Class A/B+. The building offers tenants space ranging from 80-150 square meters to over 1,500 square meters and over 50 percent of its total is already leased. It charges rents of zł.48.7 (€10) per square meter and tenants pay zł.12.6 (€2.6) per square meter for services. Between 2001 and 2002, average rents dropped significantly in Wrocław, from a level of zł.87.6 (E18) per square meter. In that time approximately 90 percent of the leases in the city were renegotiated and no major changes in occupancy rates are forecast for the near future.
According to Knight Frank, the vast majority of modern office buildings in Wrocław is located around the market square but there are also some quality buildings in the western part of the city, and Quattro Forum and the Western Centre of Business can be found here, not far from the airport.
The major tenants in Wrocław are banks, financial institutions, law firms and IT companies, whose office requirements range from 200 to 300 square meters. The major deals over the past year, however, include the leasing of around 4,000 square meters to Nationale Nederlanden and the ING Group, in a new office building at Szewska 72 near the market square, 1,300 square meters to Volkswagen Bank at Millennium Tower, 1,300 square meters to IMG, an IT firm, and 800 square meters to Deichmann, both at Quattro Forum.
New office developments in Wrocław this year include Temida, which is located near the District Court, and which will be leased mainly to law firms. It will consist of 2,300 square meters of class A/B+ space and the developer is the IT firm Surfland. The end of 2005 will witness the arrival of NCC Forum, which will also contain retail space.
