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News Flow East’s prime office portfolio is fully leased
12
May
2016

Flow East’s prime office portfolio is fully leased

by Ákos Budai
Flow East, the Anglo-Czech property owner and heritage campaigner announced that it has signed two new leasing agreements with Modrá pyramida stavební spořitelna and AON Central and Eastern Europe resulting in the 100% occupancy of its 13-building central Prague office portfolio.
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News Warsaw office market shows rapid growth
11
May
2016

Warsaw office market shows rapid growth

by Ákos Budai
According to the latest report by Cushman & Wakefield Q1 2016 saw a rapid growth in the supply of office space in Warsaw, which more than doubled the results for the same period in 2015. Due to the record-breaking levels of supply vacancy rates have increased by 1.9 pps to 14.1%. Although statistics show a fall in net absorption, this is probably a temporary decrease in the light of last year’s exceptionally high growth. Cushman & Wakefield expects the office market to continue its growth in the remaining months of 2016, with pipeline supply estimated at 330,000 sq m.
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News Immofinanz reports increase in office portfolio occupancy
10
May
2016

Immofinanz reports increase in office portfolio occupancy

by Ákos Budai
Immofinanz raised the occupancy level in its office standing investments by roughly seven percentage points to nearly 82% by the end of the 2015/16 financial year (as of 30 April 2016). Rentals in the office segment totalled approx. 388,000 sqm, or 29% of the total area, according to preliminary numbers. Of this total, 307,000 sqm are located in standing investments and 81,000 sqm in development projects. Roughly 40% of the standing investment rentals represent new contracts or contract expansions, while the remaining 60% are contract extensions with existing tenants. 
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News HB Reavis acquires its third London site
29
Apr
2016

HB Reavis acquires its third London site

by Ákos Budai
International real estate developer HB Reavis bought the freehold interest in 61 Southwark Street from Aberdeen Asset Management for £44 million.
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News Development activity slows down on the Prague office market
27
Apr
2016

Development activity slows down on the Prague office market

by Ákos Budai
The Prague Research Forum announced its office market figures for the first quarter of 2016. Gross take-up amounted to 92,200 sq m, representing a decrease of 43% compared to the previous quarter and an increase of 26% in year-on-year comparison. In Q1 2016, the vacancy rate decreased by 0.7 percentage points to 13.9% compared to the previous quarter.
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News IT companies and BSCs dominate the Prague office market
27
Apr
2016

IT companies and BSCs dominate the Prague office market

by Ákos Budai
IT and business service centres were the most active tenants on the Prague office market last year, having signed lease contracts for 84,000 sqm and reaching 31 % of net take-up. In 2015 the largest leasing transaction represented by an agent (JLL) was concluded in the history of Prague´s office market – SAP leased nearly 25,000 sqm in Metronom office building in Prague 5. SAP will move its 2,000 employees working for three operations under one roof. 
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News New leases dominate the Budapest office market
21
Apr
2016

New leases dominate the Budapest office market

by Ákos Budai
Vacancy rates have further declined on the Budapest office market as a result of modest development activity and strong demand from tenants. The Budapest Research Forum has published its quarterly office market analysis.
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News Wizz Air Hungary moves into new office building
21
Apr
2016

Wizz Air Hungary moves into new office building

by Ákos Budai
Wizz Air Hungary Kft., the largest low-cost airline in CEE moved its Budapest headquarters to Laurus Offices in mid-March 2016. Wizz Air is renting nearly 3,200 square meters of office space in building B of the complex, which was developed by Erste Group Immorent Kft., an affiliate of Austria-based Erste Group.
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News New tenants in Skanska’s Nordic Light office building
06
Apr
2016

New tenants in Skanska’s Nordic Light office building

by Ákos Budai
HARMAN International and BASF Hungária Kft. has signed lease agreements with Skanska. The Swedish developer’s Nordic Light office building in Budapest now has preliminary lease agreements for 26% of its total leasable area. Colliers represented the tenants in the transactions, while CBRE takes exclusive responsibility for leasing Nordic Light. 
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News Nile House receives platinum certification
31
Mar
2016

Nile House receives platinum certification

by Ákos Budai
Nile House, part of the office project River City Prague in Prague 8 – Karlín owned by CA Immo, has received the first Platinum “LEED for Existing Building: Operation and Maintenance” certification in the Czech Republic. JLL´s Property Management team provided all the necessary support, managed the materials for this certification and coordinated the process.
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Latest news


New leases

  • Maidan rented a 1,460 sqm space in the Bucharest-based Dageco Expozitiei Estate complex, for three functions: the company's offices, an event hall with a capacity of 170 people and the central catering kitchen. The lease was overseen by Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance.
  • Vattenfall IT Services Poland will move to Grundmann Office Park A. It will occupy approximately 2,600 sqm in the Katowice office building owned by Cavatina Holding.
  • Panattoni Park Łódź West III is gaining a new tenant from the 3PL sector. Italian company Barth Italiana will occupy more than 5,500 sqm of space at the complex.

New appointments

  • Ewelina Szczepaniak joins the office space leasing team of CPI Property Group in Poland as Leasing Manager – Offices. She will strengthen a department responsible for the lease of 20 office buildings in Warsaw with a combined area of 516,000 sqm.
  • Julia Faltus-James, an accredited professional in WELL, ActiveScore and “Green Home” certifications, and Szymon Krawczyk, an energy transition expert, have joined the Strategic Consulting & ESG Advisory team of Cushman & Wakefield.
  • Management Board of Globe Trade Centre has announced that on the 3rd of December, the company received a written statement from György Stof on his resignation as a Member of the Company's Management Board.

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