New Work, an independent flexible office operator in Central and Eastern Europe, has secured new funding to accelerate the implementation of their 360° Workspace Solution strategy.

Belgian developer Atenor completed the construction of Aréna Business Campus Building “A” in Budapest. The project, launched in spring 2018, will comprise four Class A+ environmentally conscious office buildings on 72,000 sqm on the capital’s Hungária Boulevard. The authorization of the occupancy permit for Building “A” is currently under process with the handover of the 21,000 sqm building scheduled for June. In parallel, the construction of the second, Building ”B” is in full swing and will be completed in Q2 2021.

Developer 7R has signed an agreement for a BTS warehouse facility for Hultafors Group, a leading Swedish company that provides a number of premium brands, such as Snickers Workwear, Hultafors Tools and Solid Gear, to professional craftsmen all over the world. The project, located in Goleniów (North-Western Poland), will be the country’s first A-class automated warehouse which uses the AutoStore system.  

International investor Aurec Capital has expanded its portfolio in the private rented sector (PRS) in Poland. The transaction of the Puławska 186 project completed between Aurec Capital Poland and Matexi Polska is worth over €22 million (PLN 100 million). JLL advised the investor on the purchase of the property.

Everyday personal and professional life have both been impacted by the COVID-19 pandemic in a radical and unexpected way, and the general opinion is that its influence and effects will have repercussions on how people live and work, even after the medical situation will be stabilized. Cushman & Wakefield Echinox and Dentons are launching a debate over 10 issues that will impact the entire office sector in Romania, covering over 350 modern buildings with a total surface of more than 4 million square meters and approximately 400,000 employees working in some of the largest companies, emblematic for the national economy.

According to a new bill, Airbnb landlords in the Czech Republic have to share data with the administrative bodies. Also, the Czech Parliament plans to allow tenants without income due to the coronavirus restrictions not to pay rent until the end of July.

With a total volume of approximately €120 million in the first quarter, the Romanian investment market had a similar start compared with the same period in 2019, when the volume of transactions was €117.5 million. An optimistic scenario puts the total volume of investments for 2020 at €750 million, while a pessimistic one somewhere at €500 million. Crosspoint Real Estate has issued its latest market report on the Romanian real estate market’s performance.

Colliers International’ latest report “COVID-19 European Real Estate Markets Government Response” presents information on how the national governments across EMEA are supporting businesses with specific reference to commercial and residential rent/mortgage payments, business loans and grants, taxation allowances and business rates and household/individuals salaries. Force majeure impact on lease contracts is also considered.

In Q1 2020, Panattoni signed leases for more than 425,000 sqm, of which 207,000 sqm were taken up in March alone. There was 1,051,777 sqm under development, and since the beginning of its European operations, Panattoni has delivered 10 million square metres, with 7.6 million of that in Poland.

For the first time since Q4 2018, the vacancy rate on the Budapest office market increased in Q1 2020, albeit only by 0.6 pps. Total demand in the first quarter of 2020 reached 79,660 sqm, stagnating year-on-year, according to BRF’s latest figures.