Warsaw Real Estate Market

Trade Tower

In the morning we were meeting the representative agent of the Trade Tower, Adrian Bojczuk from Savills.

The A-class office building was built in 1999, which is located in the postindustrial part of the city, which was formerly known as the ghetto (during the war) and cost approximately 100 million euro. The whole building has a vacancy rate of 10% and the rent ranges between 20-22€/sqm depending on floor level.

Typical lease length in Poland are 3 or 5 years with usually one month/year rent free period because the landlord wants to secure the headline rent. The rent review is yearly and is in pace with the European Union Inflation Rate. The payment is on a monthly basis.

The service charges for such a building consist of 5€/sqm and includes the reception, security, cleaning and so forth.

Comparing the stock in Warsaw with 400,000,000sq ft to Nottingham with 7,000,000sq ft.

At the end in showing our appreciation Keith Lown handed over a crystal statue of Nottingham Trent University and thanked for his presentation. All of us liked it and thought that it was very interesting. 

Rondo One

We were then divided into two groups. One group went to the Rondo One Office building, whereas the other group went to the shopping centre Zlote Tarasy.

At Rondo One we were meeting the property manager of the building and she was basically giving information about the 40-storey fully glazed tower, which offers approximately 64,000sqm of net office space and ceiling height between 2.85 to 3.00 metres.

The building is located in the city centre of Warsaw. The ideal location ensures convenient access to all parts of the city and also the airport. With this location prices ranges between 28€/sqm and 30€/sqm.

Four different tenants currently occupy the building. The floorplate space ranges between 1400sqm – 1500sqm with 18 high-speed elevators, 12 standard and provides employees and guests with 500 parking spaces.

The highlights of that building are the sustainability (BMS system efficiency), the location and the views. 

Zlote Tarasy

City Sightseeing

We had more free time and some of us used the time to wander around in the city to discover more of the polish culture and some sightseeing, see below:

Palace of Culture and Science

The palace was built between 1952 and 1955 by architect Lev Rudnev and is the tallest building in Poland, which was formerly known as the Joseph Stalin Palace of Culture and Science. The building measures a height of 237m (778ft), which includes the spire, without the spire its 188m (617ft) and is currently the 187^th tallest building in the world.

Furthermore, some great architecture…

The building on the photo below looks like the to the right falling tower in Pisa (Italy). The second building from the right has a cut through on the edge.