The three most profitable offices for rent in Warsaw, or how to find awesome premises for your company. An expert’s opinion 2022
The three most profitable offices for rent in Warsaw, or how to find awesome premises for your company. An expert’s opinion 2022

The three most profitable offices for rent in Warsaw, or how to find awesome premises for your company. An expert’s opinion

More and more international companies are choosing Poland to host their offices, as they consider this platform to be the most profitable option for them. Many large companies from the CIS countries are moving their offices to Warsaw and other major cities in this country. As a result, we are observing a rapid growth in the number of new commercial properties and an increase in demand. With the help of some specialists from the East West Reals real estate agency, we found out the current rental cost of an office in Warsaw and how to find the most profitable properties. Read the article for more details.

The office space market in Warsaw has almost returned to the «pre-Covid» levels

— How can you describe the state of affairs in the commercial real estate market now?

— Before the start of the pandemic, the office space market in Poland was flourishing: with a fairly large number of newly built commercial spaces, the overall vacancy rate rarely exceeded 6-8%. The long-standing pandemic made its own adjustments, and the commercial real estate market went into standby mode: some companies were simply unable to pull rent payments, some others took a wait-and-see attitude and did not risk entering into long-term lease agreements, and several were outright forced to close their businesses. As a result, the percentage of vacant offices and retail space increased, and the owners were forced to make concessions, offering tenants the best terms possible.

The situation began to change again in the second half of 2021. The office space market in large Polish cities began to revive again — business adjusted to modern realities and returned to renting commercial space. As early as this autumn, office rentals reached almost «pre-Covid» levels, despite the entry into the market of even more new sites (since the beginning of the year, about 120,000 square meters of commercial space have been put into operation in the capital, and another 330,000 square meters are under construction). And now only a few owners remain as loyal to their tenants, offering them lower prices or other benefits when concluding long-term contracts.

The average cost of renting offices in Warsaw now fluctuates between 16 and 24 euros/sq.m. We are talking about a truly high-end property that meets the latest quality standards. In the city center you can hardly find an office for less than 18 euros/sq.m. now, while in more remote areas it is quite possible to find options for 16 euros/sq.m. Large areas, from 500 square meters, are still especially profitable, and they are the most popular among our customers.

— How do you find the most profitable properties? Is there any specific checklist to follow when looking for an office?

— The most important thing to pay attention to when looking for an office is its location: it should be well connected with other parts of the city. Of course, the city center is best suited, because there will be all kinds of public transport (metro, tram, city train, buses), and well-developed infrastructure (shops, cafes, sports clubs, etc.). In Warsaw, the most popular business centers are located near Rondo ONZ and Rondo Daszyńskiego, as well as in the business district in the Mokotów Służewiec area.

— Are there any special conditions for renting an office in a business center? How is the rental price agreed upon?

— In class A business centers, lease agreements are most often signed for a period of 5 years. With the right approach and communication with the landlord, it is possible to agree on individual conditions for a shorter rental period.

The rental price consists of the rental rate per square meter (the area of the leased premises also includes your share in common areas), 23% VAT, and an administrative maintenance fee per square meter (usually about PLN 25/sq.m. per month). As a rule, landlords are reluctant to bargain (even now, during the pandemic), but this does not mean that you shouldn’t. In my opinion, bargaining is always appropriate: you can and should try to agree on more interesting terms for yourself.

— How do landlords choose tenants?

— Since the contract is most often signed for at least 5 years, the owner of the premises very scrupulously checks the solvency of the future tenant. They may request financial statements for the last year or a bank guarantee. In addition, when concluding a contract, a deposit in the amount of three months of rent is most often required. Preference is always given to reliable companies with a stable financial position.

— Is it difficult to draw up your documents once you have found the office you need? How are offices rented out?

— Here you need to be prepared for the fact that in Poland everyone works quite measuredly and slowly, no one is in a hurry. The signing of the contract and the issuance of the premises may take an average of 1-2 months, and if it is necessary to do repairs, this will further delay the entire process (depending on the amount of work). Therefore, it is better to deal with this issue in advance. The premises are mostly given out once ready for entry (that is, you just have to move furniture into them). And, of course, you can always agree with the landlord that repairs will be carried out, the cost of which will be fully or partially covered by the rent. This is necessary if a particular tenant has certain business needs. In general, Warsaw is now one of the largest players in the office real estate market in Central and Eastern Europe.

Three profitable offices that you can rent right now

— As I said above, now the commercial premises market in Warsaw is experiencing a real boom — the demand is greater than ever. To make it easier for companies to find «their» property, we have prepared a selection of several profitable and interesting offers on the capital’s office space market.

Office with an area of 339 sq.m. next to a metro station for 18.2 euros/sq.m.

In an office building in the center of Warsaw, several commercial premises from 200 to 1000 sq.m. are being leased at once. This is a class A office building, which means it meets all modern international standards: modern communications, the latest ventilation system, fiber optic systems, video surveillance, high-speed elevators, etc. The building has a fitness club, several cafes and restaurants, a medical center, underground parking, and one of the central metro stations is only a few minutes’ walk away.

On the 16th floor, an office with a total area of 339 square meters is for rent. The cost of this particular office is 18.24 euros per square meter (+ VAT 23% + utilities).

According to an expert from the East West Reals real estate agency, this office is one of the best offers on the market, given the excellent location of the building in the very center of Warsaw at the junction of several roads. Now the premises are completely ready to settle in for almost any company — you just need to bring in your office furniture.

Office with an area 664 sq.m. for 19 euro/sq.m.

— The business center of Warsaw has only strengthened its leadership position in the rental and sale of offices in recent years. International companies have begun to actively enter the Polish commercial market, which means that the number of vacant premises is noticeably decreasing. That is why really interesting offers quickly find their owners.

One of these proposals is an office with an area of 664 sq.m., located on the 30th floor of a business center on Towarowa street. This is a modern building within walking distance from the Rondo Daszynskiego metro station. The owner indicates that he is ready to rent it out at a bargain price, taking into account the minimum lease term of 5 years. If the tenant is ready to fulfill this condition, then the cost of this office is 19 EUR/sq.m. (+ 23% VAT + utilities 25 PLN / sq.m).

In addition to this office, several more premises with an area of 150 to 1600 sq.m. still remain vacant in the building.

Office with an area of 1048 sq.m. for 21 euro/sq.m.

In another business center located near the Rondo ONZ metro station, there are premises for rent with a total area of 1048 sq.m. This office is located on the 20th floor of the building, which offers an excellent view of the business center of the Polish capital. Those who plan to get to work by their own car will not have to waste time looking for a parking space in the city center — the building has underground parking. And the central railway station is only a couple of minutes away on foot. At the same time, the room itself is an open space with panoramic windows and separate rooms for negotiations. In this building, it is also possible to rent other premises from 150 to 800 sq.m.

More offices and commercial space for rent can be found among East West Reals properties. Follow the link and choose your favorite place to work.

Properties count: 928
Number of publications: 30
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