Cavatina has leased a total of more than 50,000 sqm in cities outside Warsaw. This is the best result in regional markets achieved in 2022. Cavatina has consistently delivered sustainable premium investments in Krakow, Katowice, Gdansk, Wroclaw, Lodz and Bielsko-Biala, skillfully responding to the needs of tenants from different sectors. Last year, the developer completed 3 buildings with a total area of over 83,000 sqm, and in December announced the launch of another project – Grundmanna Office Park in Katowice.
Despite the challenging market environment, 2022 is another year that Cavatina Holding can count as successful. Tenant activity in the entire office market last year was higher than in 2021, and the quarterly summaries of consulting firms also indicate higher leasing results in the regions than those recorded in 2019. IT and modern business services dominated among the sectors most frequently seeking offices. Cavatina Holding develops well-located, large-scale office projects of the highest standard and responds well to the needs of tenants, for whom offices are an important part of creating an employer brand and supporting employer branding activities. Attractive spaces and a comprehensive offer with office planning, design and construction allowed Cavatina to attract tenants for as much as 51,000 sq. m. in 2022. GLA.
We are maintaining the rapid pace of development of our portfolio and know more and more about the needs of tenants. The high level of activity in Poland’s regional cities, combined with our knowledge of how we can support companies in creating a working environment, has translated into a leading position among office developers outside of Warsaw. Last year, the most space was leased by companies in Krakow and Katowice, where we signed contracts for 17.8 thousand sqm and 16.1 thousand sqm, respectively. The fast pace of commercialization of such a large building as Global Office Park in Katowice is confirmation that we have well anticipated the expectations and prospects of a new market for us,” says Sebastian Suchodolski, Head of Leasing at Cavatina Holding.
TOP 3 largest transactions
– Keywords Studios – 13.3 thousand sq. m. at Global Office Park A in Katowice (pre-leasing agreement for 9.3 thousand sq. m. in Q2 and an agreement for almost 4 thousand sq. m. in Q4 2022),
– Alior Bank – 5.6 thousand sqm in Palio Office Park A in Gdansk (lease),
– SALESmanago – 4.7 thousand sq. m. in Ocean Office Park D in Cracow (entire building, pre-leased).
Among the most popular projects in Cavatina Holding’s portfolio are Global Office Park in Katowice, Ocean Office Park in Krakow or the office buildings of the under-construction Quorum mixed-use complex in Wroclaw.
As a result of high leasing activity, the impressive Global Office Park A office towers, completed in the middle of last year, are already more than 75% leased. The high potential of the Silesian market and the success of GOP resulted in the decision to launch another project in Katowice – Grundmann Office Park.
In the past year, Cavatina Holding increased the rental level of its investments in Gdansk and Wroclaw, where contracts were signed for 9.3 thousand and 5 thousand sqm, respectively. At the same time, the company completed the commercialization of Cavatina Hall A, the first Class A office development in Bielsko-Biala. Construction of Cavatina Hall B is underway, with pre-letting levels already reaching over 60%. In total, Cavatina has leased in Bielsko-Biala in 2022. 1.2 thousand sqm.
The tenants of Cavatina Holding’s investments in the past year also included such brands as Artgeist, FLYR, Asseco, KPMG, UNIQUA, CBRE and Pratia medical center.
The very good leasing results we achieved in 2022, which was a relatively difficult year for the entire commercial real estate sector, allow us to look at these coming twelve months with optimism. In addition to having the courage to pursue ambitious office and mixed-use projects, we have the skills to respond quickly to changes in the environment and a highly flexible approach to working with tenants. These are the foundations of our success,” Sebastian Suchodolski, Head of Leasing at Cavatina Holding, concludes.
Quality appreciated by investors
The company’s consistency in building high-quality, sustainable and well-located buildings also brought results in the agreement finalized in August to sell a portfolio of three buildings located in Krakow and Wroclaw for more than €139 million to affiliates of Lone Star Funds. The sale of Carbon Tower, Tischner Office, Ocean Office Park A was one of the largest transactions in regional office markets in 2022.
Cavatina Holding is not slowing down. Last year, the Group completed three more projects – the company’s flagship investment, the Global Office Park office towers in Katowice (totaling 55.2 thousand sq. m.), Palio Office Park B in Gdansk (7.7 thousand sq. m.) and Quorum D in Wroclaw (16.3 thousand sqm). Cavatina currently has office projects under construction with a total area of about 170 thousand sqm.
Scheduled for completion in 2023 are Cavatina Hall B in Bielsko-Biała, Ocean Office Park B and D in Krakow, and Quorum A in Wroclaw – a 140-meter-high tower that will be the second-highest building in the Lower Silesia stoic.
