CitySpace has just opened another offices in Warsaw and is expanding its centers in Wrocław and Gdańsk. There are plans to open two more locations and enter a new market. A very rapid expansion of CitySpace is possible thanks to a well-thought-out strategy and favorable market conditions. Currently, the company owns 18,000 sqm of flexible space located in 5 Polish cities. The development of this brand is supported by its owner, Echo Investment, that diversifies its service portfolio.
CitySpace - one of the biggest operators of flexible office space in Poland - does not slow down the pace of development. The expansion of the brand in Poland is supported not only by a good strategy, but also by belonging to the Echo Investment Group. The operator opens some offices in buildings owned by Echo, that brings benefits to both entities.
- Taking into account the dynamic groth of Echo Investment in the office sector, having a partner that allows to meet the needs of tenants not only in the market of long-term contracts, but also in the segment of short-term contracts is crucial. Thanks to the presence of CitySpace in our portfolio, Echo Investment's offer can be tailor-made and our buildings can be adapted to the future needs of tenants and landlords - says Nicklas Lindberg, CEO of Echo Investment. - Over the last few years, the Polish office market has undergone a huge transformation, and flexible solutions attract a group of clients that is more and more diverse. Recent months have also shown an increase in importance of suppliers of flexible office space and we can see that this trend is continuing," he adds.
Strong growth in three cities
Only in the first half of 2020, CitySpace expanded the space it manages by over 3.2 thousand sqm, including a new office in the O3 Business Campus complex in Kraków (over 1.7 thousand sqm). Thanks to further development, an office is the Beethovena center in Warsaw has recently been expanded, and currently the total number of workstations in this facility is 326. A new feature is an area with its own kitchen - it is the office space created for one company (usually kitchens are shared). The new zone includes also an exclusive meeting room, that can be used as a private office. There is an independent entrance to this zone. In the Beethovena center you can find various spaces for work: a coworking zone, open-space offices, quiet and cozy private offices, as well as dedicated meeting rooms. Such variety is standard in all CitySpace centers in Poland. Standard amenities include: full furnishing and equipment of offices and common areas, a reception desk, cleaning service, IT support and office managers, and the possibility of installing company’s equipment in a server room.
Extra space in the Nobilis Business House office building in Wrocław will be opened in October. Almost 800 sqm of flexible office space will be added, thanks to that the total size of offices will exceed 2 thousand sqm. After the changes, companies will have more than 300 workstations in open space offices and private offices.
In turn, the opening in Gdańsk is planned for January 2021. In the Tryton Business House building, the operator brings novelties: coworking, another kitchen and a reception desk, that will be located on the first floor of the office building. Mikomax, a company specializing in creating customized offices, participated in designing the new space. After modernization also in Gdansk, the size of flexible office space will exceed 2 thousand sqm.
CitySpace on a new local market
CitySpace sees potential to develop especially in local markets, outside Warsaw. The plans for the coming months are to launch two more locations in Wrocław and Katowice. What is more, the operator assumes that in the next two years it will enter a new regional market.
- The situation on the market proves to us that the position of flexible offices is strong and their role will grow, especially in regional cities, so we are keeping a close eye on the situation with, looking for optimal projects to develop our concept - explains Jarosław Bator, Managing Director at CitySpace.
Among a diverse group of clients of CitySpace there are companies such as Northpass, EPP, Duco, Pro Pro Progressio and Feno. As the operator emphasizes, more and more companies ask for flexible offices because they are aware that it reduces the risk associated with unproductive use of office space.
- It is difficult for clients to determine their future needs when renting traditional offices for several years. Companies expand or shrink, so there is always too little or too much space. Flexible solutions allow to adjust the number of workstations to the current situation and thus prevent financial losses and are a part of business risk management - says Jarosław Bator. As he emphasizes, the importance of flexible space increased during the pandemic, because many companies appreciated a hybrid model, combining office work with remote work: - As early as in May, some companies reported a desire to return to stationary mode or switch to mixed mode. The main reason was difficulties that occurred during the prolonged period of remote work, such as: lack of possibility to create a comfortable place to work, building bonds between employees, or limited access to modern technologies, advanced infrastructure and IT support.
CitySpace manages flexible offices in five Polish cities: Warsaw, Wrocław, Gdansk, Katowice and Kraków. It operates 10 office centers in these cities, half of them are located in Warsaw. Today, CitySpace offers 2.3 thousand workstations on nearly 18 thousand sqm of flexible space.