ARTICLES LABELLED WITH TAG office

Bratislava's iconic Pradiareň 1900 building is now wholly owned by investment group RSJ, which has bought the entire stake of the other co-owner YIT Slovakia. The total value of the transaction is approximately €35 million. RSJ announced the change in ownership structure on its website.

Vacancy went further up and only three new buildings have been added to the Budapest office market in the first quarter of 2022. Total demand reached 80,750 sqm, representing a 7% increase year-on-year, the Budapest Research Forum (BRF) reports.

The Polish Chamber of CommercialReal Estate (PINK) has published figures summarizing the office market in eight major regional markets in Poland (Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Lublin, Szczecin) for Q1 2022. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman & Wakefield, JLL, Knight Frank, Newmark, Savills) and includes information on existing modern office stock, new completions, take-up volumes and vacancy rates.

Office Warsaw faces major challenges: deteriorating macroeconomic indicators, rising construction and utility costs, and upward pressure on rents and service charges. In addition, there are delays resulting from broken supply chains, the spectre of a supply gap and a strong reshuffling in the demand structure. On the other hand, the capital city market reports a quarterly record in lease agreements signed and attracts an IT giant that buys one of the newest office-mixed use complexes; all this is according to the summary of the first quarter in the Warsaw office market prepared by BNP Paribas Real Estate Poland experts.

IWG plans to add thousands of locations in the upcoming period as it sees pent-up demand for flexible office spaces across the world. At MIPIM, Property Forum talked to Thomas Sinclair, Chief Investment Officer and Giles Bateman MRICS, Regional Development Director – Continental Europe at IWG about the benefits of flexible spaces for corporates and the post-pandemic development of offices.

The building, developed by Belgian firm Codic and called HomeWork has recently reached its final structure. Apart from 15 luxury flats, a total of 3,600 sqm of office and retail space will be available. A restaurant and a cafe will also serve the needs of tenants.

Speedwell's development pipeline in Romania has a strong focus on the residential segment but the company also aims to expand its SpacePlus industrial product across the country and CEE. Property Forum sat down with Didier Balcaen and Jan Demeyere, Co-Founders of Speedwell, at MIPIM, to talk about the financing environment and challenges related to inflation and the shortage of construction materials.

Real estate advisory firm Savills has been appointed as sole letting agent for office space in West Forum in Wrocław. The office complex is owned by GNT Ventures Properties managed by TFG Asset Management.

Cushman & Wakefield has been appointed as the property manager of two Warsaw buildings in HIH Invest Real Estate’s portfolio: Feniks Office Building and Prime Corporate Center.

Gal Peleg, CEO of Golden Star Group talked to Property Forum about the potential effects of the war in Ukraine on the Polish office market, the expected supply gap and the reactivation of the long-awaited Lilium project in Warsaw.