ARTICLES LABELLED WITH TAG Cushman&Wakefield

Gross take-up (including renegotiations and subleases) on the Prague office market in the first quarter of 2018 amounted to 85,700 sqm, representing a decrease of 51% compared to the previous quarter and a decrease of 19% in year-on-year comparison. The Prague Research Forum announced the office market figures for Q1 2018.

Cushman & Wakefield has published a report on the impact of autonomous vehicles on commercial real estate. Ongoing urbanization combined with increasing demand for goods and people to be moved in mass means that mobility now matters more than ever, says the report.

The area of shared offices in Prague will grow by 66% year-on-year. At the end of 2017 the total area was 16,500 sqm, and in 2018 it will increase to 27,500 sqm as the market delivers 11,000 sqm. The majority of these centres have been pre-leased. Shared offices are used in the regions as well. There are 76 coworking centres across the Czech Republic with a total area in excess of 25,000 sqm. According to Cushman & Wakefield’s estimates, the current area of shared offices will double by 2020.

In Q1 2018, industrial space totalling 181,900 sqm was completed across the Czech Republic, but speculative construction accounted only for 2% of all new developments. The Industrial Research Forum announced the preliminary industrial market figures for Q1 2018.

Cushman & Wakefield has signed an exclusive arrangement with CBS International as its affiliate in Serbia and Montenegro. The former CBRE affiliate has been rebranded to Cushman & Wakefield CBS International.

Cushman & Wakefield is expanding its Project & Development Services (PDS) team, to include a new C&W Design + Build platform. In Central and Eastern Europe (CEE), the new service will be headed by Glyn Evans, based in Prague.

Retail space deliveries will accelerate towards 200,000 square meters in 2018, as new projects and extensions are scheduled in ten medium-size towns and cities across Romania, but no significant delivery is scheduled in capital Bucharest this year, according to reports released by Cushman & Wakefield Echinox.

Cushman & Wakefield launched its latest Łódź real estate market report at MIPIM. The report, prepared in cooperation with the Investor Service and International Cooperation Bureau of the City of Łódź Office, contains an overview of the city, its growth potential, numerous revitalisation projects and commercial property market. Its key findings were presented at the Łódź stand at MIPIM by Zuzanna Krech, a Negotiator in the Office Agency of Cushman & Wakefield, and representatives of the city’s authorities.

The Czech hospitality market has been achieving above-average performance rates thanks to a steadily growing number of tourists. This has had a positive effect on hospitality properties whose yields ranging between 6% and 7% are noticeably higher than the yields in other commercial sectors, specifically retail, office and industrial. They are also attractive with rents guaranteed for a long time. As a result, converting office space into hospitality facilities is becoming a frequent choice among both domestic and international investors. Czech operators can compete with foreign ones quite capably and tend to be the preferred choice for hotel owners. Just about 14% of the local market operators are international brands.

Warsaw, Poland’s capital and largest city, has a population of more than 1.75 million. It is also the country’s biggest labour market and home to many university-level schools with a strong R&D sector. It boasts a relatively low unemployment rate which stood at 5.6% at year-end 2017 and the highest gross monthly salary averaging €1,300 (PLN 5,432). Warsaw is growing at a rapid pace, combining modernity with history, new business districts with green areas, the latter accounting for 28% of the city’s total area in 2017, and investing in both public transport and alternative means of transport (including 400 km of cycle lanes as at the end of 2017). Cushman & Wakefield has launched its latest report Warsaw 2020 on Warsaw’s future and major developments transforming the city’s skyline