Office space market in Warsaw

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1 OFFICE MARKET REPORT 2017 Office space market in Warsaw

2 OFFICE MARKET REPORT SZCZECIN Szczecin is a growing office market in northwestern Poland Compared to other cities, Szczecin s modern office market is in its initial stage. The number of class A office buildings in Szczecin is constantly growing. Continuation of this trend will increase the city's attractiveness for tenants form the BPO and SSC sectors. One of the biggest advantages of Szczecin is the good road connection with Berlin and the proximity of Scandinavia. The largest cluster of office space is located in the center of the city and in central-south section of the city, along both banks of the Western Oder River. Heading in the opposite direction once can easily reach the airport in Goleniow, which is also a big advantage for office tenants. CBRE Research & Consultancy 2017 CBRE, Sp z o.o. 2

3 Human capital Population 407,200 Students 42,100 Graduates 10,900 The number of universities 19 SSC/BPO/ITO Companies 23 Employment 5,000 Specialization Finance and accounting Call Centre Place in the Tholons 2014 ranking n/a Area range Existing 156,100 sq m Demand for office space Rental rates Prime: 12.0 (EUR / sq m / month ) Vacant surface % A-class stock 53% Under Construction 29,000 sq m Demand 2017 YTD 5,400 sq m Absorption 2017 YTD 650 sq m BPO/SSC Demand 35 Average: (EUR / sq m / month ) Effective: 10.0 (EUR / sq m / month ) Prime yields: 7.4 (%) 3,000 sq m Planned by the end of ,000 sq m CBRE Research & Consultancy 2017 CBRE, Sp z o.o. 3

4 Gross salary in the banking and financial sector GL Accountant: GL Senior Accountant: GL Team Leader: AP/AR Accountant: AP/AR Senior Accountant: AP/AR Team Leader: Gross salary in the HR sector and serv ices CS Junior Specialist: CS Specialist: CS Team Leader: Payroll Specialist: Senior Payroll Specialist: Payroll Team Leader: Gross salary in the IT sector 1st Line Support: IT Administration: Business / System Analyst: Developer: Tester: Team Leader: Ty pical rental terms Service Charge (PLN / sq m / month ) FIT-OUT Budget (EUR /sq m) Rent free 4-6 (months) Sources CBRE, Randstad - Q CBRE Research & Consultancy 2017 CBRE, Sp z o.o. 4

5 Examples of the distance between the cities by means of transport SZCZECIN Time Time Number of connections per day WARSZAWA 6h 5h 5 TRÓJMIASTO 5h 5h KRAKÓW 9h 7h n/a WROCŁAW 6h 5h n/a POZNAŃ 3h 3h n/a KATOWICE 8h 6h n/a FRANKFURT 7h 7h n/a LONDYN n/a n/a 5 PARYŻ n/a n/a n/a SWOT analy sis Strengths Opportunities Weaknesses Threats Relatively low average salary Relatively high availability of immediate leasing options Attractive and stable rental level Close proximity to the German border and ferries to Skandinavian countries International airports in Goleniow and Berlin Growing institutional support for outsourcing sector Large number of planned office developments Recognized location by Scandinavian investors Possibility to become a secondary choice for the Tricity region Undefined business districts Weak rail and road connection with Warsaw Relatively long distance from southern Poland (Krakow, Wroclaw) Short history of BPO / SSC sector in the city Constant outflow of young population Competition from much experienced and larger cities Only 46% of the stock is of A-class, of which only around 15,000 sq m is vacant CBRE Research & Consultancy 2017 CBRE, Sp z o.o. 5

6 Selected office projects in Warsaw Duża mapa Mapa Legenda Contact to us 2017 CBRE Sp. Z o.o.. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE Research & Consultancy 2017 CBRE, Sp z o.o. 6