Savills has successfully facilitated the lease of a prestigious office space for CitySpace in Warsaw. The new project, CitySpace Novo, is set to offer modern, serviced office spaces tailored to individual entrepreneurs and companies operating in a hybrid work model.
Spanning 2,500 square meters, CitySpace Novo will feature 327 workstations in dedicated offices, over 30 coworking spaces, and an array of amenities, including conference rooms, common areas, 19 private offices, and even a games room. The opening is scheduled for October 2024.
CitySpace, a member of the Echo Investment Group, is one of Poland’s leading operators of flexible offices. The company, which has been active in the commercial real estate market since 2015, is expanding its network to 11 locations across five major Polish cities.
Savills played a crucial role in the process, offering expertise in location selection, lease negotiations, and ongoing project management under the construction management formula. The complexity of the project demanded a comprehensive approach, combining technical consultancy with deep market knowledge.
“In line with our development strategy, we chose Nowogrodzka Square for the new CitySpace Novo, with strong support from Savills,” said Lisa Zettlin, Managing Director of CitySpace. “This autumn, we’ll also be expanding our CitySpace Face2Face center in Katowice, similar to last year’s expansion in Wroclaw’s CitySpace MidPoint. Partnering with Savills is key to our mission of providing not just professional workspace, but also environments for creative meetings, networking, and events.”
The project underscores the growing demand for flexible office spaces in Warsaw, a segment that continues to thrive. Savills brought in experts from its Tenant Representation and Building and Project Consultancy departments to ensure the success of the venture.
“We’re thrilled to have supported CitySpace in securing an ideal location for their next flexible office space,” said Thomas Jodar, Associate Director and Head of Workthere at Savills. “Our experience in project management and our comprehensive approach enabled us to find the perfect space that meets the needs of this rapidly growing market.”
Warsaw’s flex office market remains robust, with over 200,000 square meters of operational space. So far this year, operators have signed contracts for more than 14,000 square meters, compared to 15,800 square meters for the entirety of 2023.
