Office market in the Tri-City, i.e. running a business at the Polish seaside
“The Tri-City is one of the leading markets in Poland in terms of the effectiveness of acquiring new office tenants”, says Cresa, a consulting company. This seems justified, even by looking at the local vacancy rate. According to Coliers, this year it reached 6.1 percent, which is the lowest score in 10 years and one of the lowest in Poland. Tri-city office space is very popular among tenants, and high demand goes hand in hand with supply.
Offices in the Tri-City – market data
In 2018, the office market in the Tri-City increased by 77,000 square meters and as a whole already measures 775,000 square meters. This is the fourth result in Poland, after Warsaw, Krakow and Wrocław, which strengthens the Pomeranian agglomeration as one of the most important business centers in Poland. Offices in Gdańsk, Gdynia and Sopot are particularly popular among companies from the IT and telecommunications (39%), commercial (14%) and financial (12%) sectors. Scandinavian companies, which willingly open branches in Pomerania, are of great importance.
The Tri-City office market increased in 2018 by several percent due to the commissioning of three large investments: Olivia Star (43,700 square meters) and Olivia Prime A (29,400 square meters) in Gdańsk, and Centrum Sportowa C in Gdynia (3,800 square meters). Looking at the investments being implemented, it can be concluded that the Tri-City agglomeration – in the footsteps of Wrocław – will soon break the 1 million square meter barrier of office space. Following projects are being developed now:
- 4th stage of the Alchemia – Neon office complex (nearly 34,000 square meters),
- a new building of the Olivia Business Center complex (26,000 square meters),
- building A of the WAVE complex (22,600 square meters),
- Heweliusza 18 (10,000 square meters),
- GATO office building (10,000 square meters).
You can submit an inquiry regarding the space in these and other Tri-City office buildings today through Realko24. Search for the building you are interested in and fill out the form to contact the landlord without any broker.
Office prices in Gdańsk, Gdynia and Sopot
How much does an office in Tri-City cost? Prices are similar to those on competitive markets in Wroclaw or Krakow and range from 12 to 15.5 euros per square meter per month in class A buildings. This means that for 500 square meters of modern office space in an attractive location, such as Gdańsk Oliwa, the tenant will pay around 7,000 euros per month. Prices in older B/B+ class buildings are lower by 3-5 euros per meter.
The Tri-City office market is characteristic, because we are talking about one agglomeration that consists of three cities where the office space is not evenly distributed. Gdańsk is the most important in this region, and 75% of the office space concentrate there. About 21% of offices are situated in Gdynia, and only 4% of office space is set in Sopot. Most offices are located near the Fast City Rail route, which is not surprising given the growing importance of commercial accessibility. The better the access to the office, the greater the chance to find a tenant.
Coworking in the Tri-City
When it comes to coworking offices, meaning space rented in a flexible model, usually for a shorter period, Gdańsk can definitely boast the largest offer in the Tri-City. This is where smaller tenants can use, for example, the offices of O4 Coworking or Współpracownia. But also in Gdynia there will be this type of space – for example, in Concept Space at Plac Górnośląski.
Office market in the Tri-City – summary
As the head of the Tri-City branch of CBRE, Mariusz Wiśniewski, notes, “developers and tenants are choosing Gdańsk because it is distinguished by its quality of life, very good location and large scale of business”. On the Polish coast, it is just nice to do business, and companies have no problem finding the right space for themselves. The increase in new office space in the Tri-City is taking place on an impressive scale – it is one of the most dynamic markets in the country, and the plans for further investments allow us to look into the future with optimism.