A growing group of business owners positively assesses Krakow's business potential - according to the report 'Krakow's investment potential'. Their scientific potential and the attractiveness of their living places attract the most to the capital of Lesser Poland (8.6 points and 7.7 points on a 10-point scale, respectively).
The report describing the Krakow market is part of the broader research project "Business Environment Assessment Study" carried out by Antal in cooperation with Cushman & Wakefield and Vastint. The respondents - persons managing Polish enterprises - were asked about places in Poland where they would be willing to locate their investments. Each of the regional cities has been listed at least once. Krakow was in fifth place among the most frequently considered places in terms of new investments.
Krakow is one of the leading research centers in Poland
Entrepreneurs are not afraid of the lack of appropriate human resources in the future. Educational potential understood as the availability of future employees took first place among the assessed aspects at 8.6 points. on a 10-point scale. This was due to two indicators - higher education facilities (8.8 points) and vocational education / secondary schools facilities (8.3 points). Almost 150,000 study in Małopolska students. At the same time, about 50,000 graduate from studies in Kraków each year. graduates - these are huge resources in the current labor market, which is struggling with a deficit of employees. The most specialists are educated in the field of engineering, finance and IT.
Krakow is the best place to live for future staff?
Krakow is primarily a culture of culture. The respondents considered the city's most important asset to be a rich cultural offer (8.9 points), which organizes the largest Krakow festivals and events in the fields of music, theater, film, fine arts and literature. The commercial offer (8.4 points) and security (8.3 points) as well as the educational offer (8.2 points) were also positively assessed. As part of the cultural offer, the largest Krakow festivals and events in the fields of music, theater, film, fine arts and literature are organized. Festivals that are worth mentioning are the Jewish Culture Festival, the International Music Festival in Old Krakow, the Street Theater Festival, the Divine Comedy International Theater Festival, the Polish Music Festival and Krakow Theater Miniatures.
Big competition is an advantage for the future investor
A company that thinks about the location of its business in a selected city always checks how much competition there is. In the case of Krakow, respondents rated this aspect at 7.3 points. The indicator was market saturation with competing companies, where 0 means no competition, and 10 - virtually all competing companies are present in the location.
Krakow is perceived as a favorable place to conduct business and investment activities thanks to numerous scientific and research units, a qualified workforce and successively implemented investments. There has been talk of market saturation for a long time, especially in the SSC / BPO sector, but subsequent successful business projects testify to the still existing development potential. This situation is also favored by significant relocation potential in the context of employees from across the western border, for whom Krakow is the first choice because of their high tourist position.
- Entrepreneurs are increasingly choosing Krakow as a place for future investments. The city's advantage is its well-qualified staff and many students who provide permanent access to educated employees. The dynamic business development and a large number of companies already present on the market translate into the growing staffing demand and intensive exploitation of the candidate's market. In addition to the supply of local graduates, interest in Krakow from candidates from other parts of the country is increasing. An important relocation argument is not only the cultural offer of the city, but the dynamically developing labor market - says Artur Skiba, President of Antal.
Over 1 million sq m modern office space
For several years, Krakow has been a leader on the office space market among regional cities in Poland. According to the Antal report - the availability of office space in Krakow was rated at 7.2 points. The study participants also distinguished high quality of available space (7.8 points) and easy access to the office by public transport (7.6 points).
- Over the past ten years, the Krakow office market has grown nearly five times. Companies planning development in the capital of Lesser Poland appreciate above all the availability of talent and the city's recognition as a top business destination. By the end of 2019, Krakow will offer over 1.4 million square meters, which confirms its dominant position on the regional office space market. New and planned office investments are being filled by new tenants. With their growing
Source: Cushman & Wakefield
Global real estate services firm Cushman & Wakefield has been appointed as sole letting agent for Riverside Park and Grójecka 5 in Warsaw, and Arkońska Business Park in Gdansk. Cromwell Property Group acts as the property manager for the buildings.
“Riverside Park, Grójecka 5 and Arkońska Business Park are well-established schemes on their respective local office markets. Each offers high-quality office space in well-connected locations and at competitive rents,” said Anna Górska-Kwiatkowska, Partner, Landlord Representation, Office Agency, Cushman & Wakefield.
Riverside Park, designed by AukettFitzroyRobinson, is an office complex located near the intersection of Łazienkowska Thoroughfare and Wisłostrada in Warsaw. Its two twin buildings offer 12,700 sq m of class A office space spread over six aboveground floors.
Grójecka 5, located close to the very centre of Warsaw, offers 11,000 sq m of class A office space and enjoys easy access to many bus and tramp stops, a station of the Warsaw Commuter Railway (WKD) and a regional rail operator Masovian Railways. Rondo Daszyńskiego metro station is one stop away from Grójecka 5. In addition to office space, the building also houses ground-floor services.
Arkońska Business Park is a modern complex of five class A office buildings with an area of 11,000 sq m, located in Gdansk, close to Lech Wałęsa Airport, the University of Gdansk, Hala Olivia and a line of the Pomeranian Metropolitan Railway. In addition to a 135-space car park, it offers 20 surface parking spaces. It was designed by APA Wojciechowski.
“We appointed Cushman & Wakefield as letting agent for our three office buildings as we share similar values and look forward to achieving the best possible outcomes. We also value the experience and full professionalism of Cushman & Wakefield’s experts who will make sure that each building maintains a high occupancy rate,” said, Anna Szymańska, Director of Office Leasing at Cromwell Property Group.
Cromwell Property Group is a real estate investor and manager operating on three continents, with a global investor base. As at 30 June 2019, Cromwell had total assets under management of €7.5 billion of across Australia, New Zealand and Europe.
In Europe, Cromwell manages €3.9 billion of real estate assets across a variety of funds and mandates, encompassing approximately 205 assets and 3,000 tenants. Cromwell’s strength lies in its real estate expertise drawn from 200+ people in 20 local offices across 12 European countries.
Source: Cushman & Wakefield
Global real estate services firm Cushman & Wakefield has been managing Astoria Premium Offices in Warsaw since the beginning of September 2019.
Astoria Premium Offices is a building offering nearly 18,500 sq m of office space and approximately 1,000 sq m of retail space in the very heart of Warsaw. It is located at 2 Przeskok Street, in the Śródmieście district. The building has received the LEED certificate with a Platinum rating.
“The Astoria Premium Offices building boasts a sophisticated design with all the advantages of an unrivalled downtown location and one of the most desirable and iconic addresses in the centre of Warsaw. Its tenants include reputable Polish and international companies,” said Grzegorz Dyląg, Head of Business Space, Asset Services, Cushman & Wakefield.
Source: Cushman & Wakefield
UNITY, an IT services provider, has signed an almost 1,900 sq m office lease at Silver Forum in Wrocław. Kensington Silver Forum Sp. z o.o., the owner of the office building was represented by property manager MULTI POLAND Sp. z o.o. and global real estate services firm Cushman & Wakefield, which is the exclusive commercialisation agent for the building. The tenant was represented by Nuvalu Polska.
Silver Forum is a modern Class A office and service building located in the immediate vicinity of Strzegomski Square, in the Old Town district, and is a natural gateway to the western business zone. The building enjoys first-rate access to public transport and a prime location on the map of Wrocław. Silver Forum offers more than 15,000 sq m of office space.
“In this transaction we successfully met the high expectations of UNITY, which subsequently decided to join other tenants of Silver Forum. The office space leased by UNITY will be fully tailored to their technical requirements. It is important insomuch as tenants from the modern business services sector require a high office standard that is in line with the latest trends and appropriately suited to the nature of their operations,” said Marcin Siewierski, Associate, Office Agency, Cushman & Wakefield.
“Silver Forum is currently undergoing an advanced process of recommercialization. We are glad to host UNITY as a one of the key tenants in our office. We are pleased to gain trust of a company that decided to relocate the headquarters to Silver Forum in Wroclaw,” – said Małgorzata Słowik, Multi’s Head of Leasing.
UNITY S.A. has 22 years of experience in IT projects providing companies with technological support in their digital transformation. It delivers design, implementation and maintenance of IT solutions in business processes, design of websites and e-commerce systems. Unity S.A. has offices in Poland, Switzerland and USA.
Source: Cushman & Wakefield
One of the largest international law firms — Allen & Overy, has chosen an office complex in the heart of Browary Warszawskie as its new Warsaw headquarters. The firm will commence activity here in the autumn of 2020. The lessee was represented by Cushman & Wakefield.
Allen & Overy is one of the largest and most innovative international law firms, operating on the Polish market for over 25 years. With nearly 5,400 employees worldwide and a network of more than 40 offices, the company serves customers in 30 countries, offering efficient solutions and the highest quality legal services. Allen & Overy tends to select special places for their offices. Undoubtedly, Browary Warszawskie, where the law firm has leased 2,750 square meters of space, is such a place. Biura przy Warzelni (Offices by the Brewhouse) is the third and the largest office building in the entire project. It is located in the very heart of a multifunctional project executed by Echo Investment in Warsaw's Wola district. The employees of Allen & Overy will move to their new headquarters in autumn 2020. Browary Warszawskie will allow them to have a vibrant part of the city at their fingertips, they will be able to use the offer of the revitalized 170-year-old former beer cellars of the 19th century brewhouse along with the market square or the secluded park in the Central Garden.
"Browary Warszawskie is one of the best locations in Warsaw for innovative companies. The high standard of this investment is extremely important to us. The new space will allow us to implement the latest arrangement and technical solutions that will support the implementation of our strategy and meet the expectations of our clients and employees. Additionally, the unique history of this place, which Echo Investment brings back to the map of Warsaw but in a new form, is inspiring for us. We want to be a part of a project that changes the image of Warsaw’s Wola district."Arkadiusz Pędzich, Managing Partner of the Allen & Overy office in Warsaw.
Browary Warszawskie is a project that will permanently change the face of Warsaw's Wola district. The new-old quarter will open up to employees, residents and visitors. Allen & Overy is another company that believed in the potential of this place.
"Browary Warszawskie is a unique place on the business map of Warsaw, so we want the companies that will locate their offices here to reflect this uniqueness. It is a future-oriented project not only because of the great atmosphere for business development, but also because of its citygenic nature. Open urban spaces, meeting places created in the historic parts of this project, a cozy residential zone, a wide range of restaurants and cafes will make Browary Warszawskie vibrant with life around the clock. We are in talks with many companies that want to develop here. Allen&Overy is another important point in the development of this location. Their international experience and well-established development strategy based on strong foundations prove that Browary Warszawskie attracts ambitious people." Michał Żelski, regional director in Echo Investment's offices department
"This is the third transaction that we have completed in the Browary Warszawskie with another of our clients. Allen & Overy decided to acquire space in this project mainly because the offered standard and lease conditions perfectly fit in with the original assumptions made at the initial stage of the process. We are convinced that the new Allen & Overy office will be one of the most interesting locations on the Warsaw office map. Moreover, working for such a demanding company was a very valuable experience for us."Krzysztof Misiak, Partner, Head of Office Department in Cushman & Wakefield
Source: Cushman & Wakefield
Sagittarius Business House, an office building in Sucha Street in Wrocław, has received the BREEAM International New Construction certificate with an Excellent rating. It excelled mainly in transport, energy and water consumption, and waste management. An independent BREEAM audit of the building was conducted by WSP Polska Sp. z o.o. Global real estate services firm Cushman & Wakefield is the property manager on behalf of German-based Warburg-HIH Invest Real Estate, the owner of the complex.
Sagittarius Business House is a Class A office building with a total usable area of more than 25,000 sqm. It is located in the immediate vicinity of Wrocław Główny railway station and close to the city center.
“Receiving the BREEAM International New Construction certificate with an Excellent rating is confirmation that the building under Cushman & Wakefield’s management boasts the highest technical standards and green technological solutions that have a positive effect on the user’s comfort,” said Lena Januszko, Property Manager, EMEA Asset Services, Cushman & Wakefield.
Warburg-HIH Invest Real Estate is one of Germany’s leading managers of real estate funds in Germany and Europe. It provides bespoke investment solutions for institutional clients and property management services.
"We are pleased to report that our investment asset Sagittarius Business House in Wrocław was awarded the BREEAM Excellent standard”, said Matthias Brodeßer, Head of Transaction Management International, Warburg-HIH Invest. “It shows that the Poland portfolio of WHIH maintains a very high sustainability level and is certified accordingly."
Source: Cushman & Wakefield
It’s hard to keep up with trends as it takes several years to complete an office project from its design to actual delivery. The office market is however doing its best to keep up with changing trends and workstyles by offering bespoke tenant solutions.
A record-breaking transaction on Lublin’s office market
Santander Bank Polska S.A. has leased nearly 5,000 sq m of office space at CZ Office Park in Lublin. The tenant was represented by Agnieszka Gułaś and Krzysztof Misiak from global real estate services firm Cushman & Wakefield.
Santander Bank Polska S.A. is the second-largest banking institution in Poland in terms of assets under management, offering financial solutions to individuals, micro-, small- and medium-sized enterprises, and Polish and global corporates. It is at the forefront of incorporating cutting-edge technologies into banking services. Since 2011, the bank has been part of the Santander Group, which has built a strong presence on ten key markets across Europe and the Americas.
CZ Office Park A is a modern Class A office and service building of CZ Office Park with a total leasable area of 21,000 sq m. It is located at the junction of Nałęczowska Street and Kraśnicka Avenue, close to Lublin’s key thoroughfares. The project broke ground in 2015 and the whole 80,000 sq m complex is expected to be completed in 2025. The first phase of the project, which saw two office buildings and a seven-floor residential building built, was delivered in 2018.
Source: Cushman and Wakefield
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