ARTICLES LABELLED WITH TAG office

Nearly all players in the commercial real estate market share the view that the pressure is growing on corporate leaders to have an ESG-compliant stock and operation. But the majority of them stop at „E” i.eg. being more energy efficient and environmentally friendly. This was one of the takeaways of last week’s Budapest ESG Meetup, organized by Property Forum in partnership with workcloud24.

Four buildings of the Wiśniowy Business Park changed hands as the Hungarian company obtained the properties from Netherlands-based seller Cherry MidCo B.V. This is Appeninn's first acquisition outside Hungary.

United Benefits Holding is entering the Polish real estate market with the acquisition of the 16,000 sqm Silver Forum office building in Wrocław.  The company plans to optimize the property with a focus on ESG standards and mobility, thus leveraging the property’s value-add potential. The price of the asset has not been disclosed. 

The Bulgarian commercial property market in 2023 will maintain activity around last year's levels. Main buyers are again expected to be local investors with sufficient funds or being able to obtain favourable credit terms. This is what Cushman & Wakefield Forton is forecasting for the period. C&W Forton estimates the total volume of commercial property transactions in 2022 to be just over €270 million. Transactions with traditional market assets – office and retail space – are predominant, while there is also a stir in the industrial property segment

Property investor Globalworth has reported a net loss of €16.1 million in 2022 compared to a profit of €47.5 million in 2021, while the value of its commercial portfolio remained effectively unchanged at €3.2 billion. 

Demand for office space in Brno is changing, companies are more reserved towards commitments due to higher costs. New construction will bring additional metres to the market, which, together with the tenants’ behaviour, will gradually decrease its absorption. Vacant meters will be filled gradually and slowly, which could be fuelled by the arrival of more international companies, says Cushman & Wakefield´s analysis.

One of the next buildings of Olivia Center is to serve as an office, and the other as a residential one for long-term rental (so-called PRS). The investor has just received a building permit for both buildings.

REICO ČS Nemovitostní fund (RČSN) has renewed its portfolio. After purchasing the multifunctional property Bořislavka Centrum in Prague and the logistics park Panattoni Park Tychy DC2 last year, it has now proceeded to sell the Office Box office building in Bratislava, one of its longest-held properties. The building was purchased by MOVYS Invest, a Slovak company which focuses primarily on providing services in the telecommunications sector.

White Stone Development has sold the Celebro office building to Lithuanian investor Eika Real Estate Fund, represented by its management company Eika Asset Management. Celebro is a class A office building located in Warsaw at 22 Gładka Street, offering ca. 7,200 sqm GLA. It was designed by the architectural studio Kuryłowicz & Associates. Built in 2019, it has a BREEAM New Construction Very Good certificate. The price has not been disclosed.

Romanian developer One United Properties says its consolidated turnover rose by 4% year-on-year to €235.4 million in 2022, while its gross profit fell 5% to €116.2 million over higher investment activity.