Tenant representation is becoming an increasingly common phenomenon on the office markets of Central Europe, which is without a doubt a sign of a healthy, growing and more educated market. Their activity, however, often raises ethical questions as it’s still often unclear who pays for their services. Conflict of interest in tenant representation has been one of the key topics of two regional events: the Property Forum - RICS Prague Property Summit 2017 and the latest RICS Hungary Tea & Talk in Budapest.

Effective from April 2017, JLL is the property manager for Building A of the Twin City office complex in Bratislava, Slovakia. The property is situated in the newly-established business district in the Bratislava city centre, in close proximity to the Main Bus Station Mlynské Nivy.

M7 Real Estate has acquired a further circa. €20 million of assets in Budapest, on behalf of its first Central European fund for third party investors, M7 CEREF I. This follows the Fund completing its final close, reaching its target raise of €60 million of investor capital in April 2017, as well as the agreement of a €68.5 million senior debt facility with Starwood European Real Estate Finance.  

Q1 2017 saw Class A & B take-up reach approximately 97,300 sqm on the Bucharest office market and the average transaction size increased from approximately 1,800 sqm in Q1 2016, to approximately 2,400 sqm in Q1 2017.  There were 9,550 sqm delivered in two projects in the CBD (Central Business District), Knight Frank reports.

Hili Properties, the real estate division of Hili Ventures, has finalised the acquisition of ART Business Centre in Bucharest from FBC Exclusive Company for €30 million.

JLL has launched a report exploring the impact of technology, data and digital disruption on work spaces and real estate investment strategies. The report focuses on the office sector over the next 15 years, looking at how occupiers, developers and investors will need to view real estate differently and adapt in order to enhance investment returns and create work spaces that are fit for purpose in a rapidly changing, highly-connected world.

There is currently 343 000 sqm of office space in development in Prague, 144 000 sqm of which is slated for completion this year. This is the strongest development pipeline since 2014. That being said, the first quarter did not launch the major increase in new office stock expected in the wake of the historically weakest year of 2016. Completion of the majority of new space is planned for the second half of this year.

The Váci Road office corridor, the central business district (CBD) and the inner quarters of Pest are the most significant office locations in Budapest. The Budapest office of CBRE has synchronized its office market database with the metro lines and stations to highlight the current status of the city’s office market.

Business Link and Skanska will co-create an innovative ecosystem for start-up companies, small and medium enterprises, and companies from the business services sector in CEE. The developer has invested in Business Link – the largest network of co-working space and private offices in Poland. Because of Business Link’s planned international expansion, the company will become one of the biggest networks of its kind in the world. 

Colliers International has extended the management contract with Triuva Kapitalverwaltungsgesellschaft mbH for another 2 years. Colliers will continue to manage the portfolio of 11 office properties with a total area of approximately 75,000 sqm. All buildings are located in Warsaw.