Romanian developer One United Properties has sold its stake in the company owning the One Herăstrău Office building to a private investor.

The average office fit-out costs in Romania rose by around 20-30% in 2022 due to a combination of supply chain pressures and higher materials’ costs, which saw companies paying an average of €820 per sqm of office space, according to real estate consultancy Cushman & Wakefield Echinox. 

More than three-quarters (76%) of Europe’s office buildings are at risk of obsolescence by the end of this decade unless landlords invest in improvements or find alternative uses for it. This is the warning from Cushman & Wakefield in its latest report.

Office leasing volumes in Timișoara amounted to 51,400 sqm during 2022, which was more than half of the total deals closed in regional cities. Iași and Cluj-Napoca were next with volumes of 26,700 sqm and 15,200 sqm, respectively, while in Brașov office leasing covered 5,900 sqm. 

IWG is opening a state-of-the-art flexible workspace at Tópark ‘BE MY CITY’ Office and Residential Park located in Biatorbágy as the demand for hybrid working rapidly accelerates. The new 1,320 sqm facility in Biatorbágy offers space for co-working and private offices. Meeting rooms and creative spaces are also available.

Fuzja is the first Łódź location of CitySpace, an operator of flexible office space. The concept, owned by Echo Investment, will occupy an office building on the site of the former Karol Scheibler plant, where the Fuzja mixed-use project is currently under construction. The location encompassing the entire office building on an exclusive basis is new to CitySpace. MIXD studio is responsible for the interior design. The opening is scheduled for May 2023.

The scale of office projects implemented in Poland today is much smaller than in previous years, and the demand for space is still high, says Walter Herz. 

Office Park Plovdiv has become the first office building with a Gold LEED Certificate for sustainable construction in the city.

Business park Dageco Expoziției Estate is among the first the first office buildings in Bucharest that will produce renewable energy after the installation of 260 photovoltaic panels on the roof. The clean energy will also power two car charging stations. 

Yareal Polska has completed the commercialisation of Wspólna 47/49 boutique office building. In 2022, the company leased out more than 4,000 sqm of available office space, with Enervigo, “Future For Ukraine” Foundation, and a representative of the European institutions' sector added to the building’s tenant roster. This means that the building, located in the very heart of Warsaw, at the junction of Wspólna and Marszałkowska streets, is now 100% leased.