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The situation on the office space market is conducive to innovation
Tuesday December 5th, 2017
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The pace at which new office buildings are created in our country raises the risk of significant oversupply. However, the situation is favorable from the point of view of landlords and  implementation of solutions in the area of ​​sustainable development

According to data from the Cushman Wakefield: “Poland Office Market Snapshot Q3 2017”, the amount of office space in nine key locations in our country is 9,16  million sq m. A further 1.44 million sq m is under construction. Although  demand is stable and forecasts do not predict that this will change, the growing supply – especially in Warsaw – may periodically significantly exceed market demand. The vacancy rate reaches an average of 11.6 percent. – from 6.7 percent in Łódź up to 12.9 percent in the capital city. The increase in this value is obviously unfavorable from the point of view of the landlords, but from the perspective of tenants and the environment it has its advantages. – For each of every building, the investor must answer the question not, is it better to pay higher equipment costs at the beginning and put for more advanced technical, energy-saving installations or rather to minimize initial outlays and opt for cheaper but less efficient systems, says Maciej Gronert, lighting designer at TRILUX Polska. – In markets where dominate the lease of use is the lease of space, the temptation to translate costs into landlords using the building and save on investment is extremely large. In connection with this, effective and giving light of excellent quality, but relatively more expensive LED lighting in offices has not been a choice so obvious as in industrial facilities that were built for a specific recipient for long years. We observe that the situation is gradually changing ę in favor of modern solutions, explains Gronert.
 

In a situation where supply increases faster than demand, the natural process is to intensify competition. The ability to move customers to a more attractive location motivates new players to create nicer, more functional and energy-efficient than existing offices. The signals of stimulation in this area are such phenomena as: the establishment of the National Association for the Support of Sustainable Construction in 2014 (OSWBZ.org), the certification of office buildings at an amazing pace (42% of newly built facilities) and the implementation of new procedures of this type (WELL) Building Standard). On the other hand, in order to keep customers, tenants are modernizing the area of ​​existing properties. So, although the voices of fluorescent luminaire supporters are still arguing, arguing that with an eight-hour mode of operation, the payback time of  investment in LEDs is quite long, light quality, luminaire design and results in energy saving rankings are also increasingly important. A good illustration of the presence of this trend in the West is the comprehensive modernization carried out at its headquarters by the largest Swiss insurance company.

 

Source: TRILUX