Office stock up 13% in Łódź in H1

Office stock in Łódź totaled 496,700 sqm at the end of June, up 13 percent y-o-y for H1, according to Cresa Polska. The cumulative annual growth rate for 2012-2019 hit nearly 10 percent. The first half of 2019 witnessed two office completions: Brama Miasta I and Sepia Office. Another 60,000 sqm of office space is expected to be delivered by the end of this year. In H1, office take-up amounted to nearly 33,000 sqm, representing a more than 16-percent increase on the same period in 2018 and accounting for as much as 62.5 percent of the average annual leasing volume for 2013-2018. The largest transaction was the lease of 5,000 sqm at Hi Piotrkowska 155 by New Work. Nordea Operations Centre took office space at Red Tower (3,300 sqm) and Cross Point (3,250 sqm). The Flint Group expanded to 3,350 sqm at the Łódź 1 office building.