The Regional Research Forum has presented H1 2024 Brno and Ostrava office market data. The vacancy rate in both cities is moving slightly below 12%.

As of August 1, 2024, the Property Management Department at Savills has been further strengthened. Petra Gavendová has joined the department as Business Development Lead. 

Savills Investment Management (Savills IM) and Vestas Investment Management (Vestas) have announced the signing of lease extension agreements with Prosperplast in two buildings at Beskid Park II, in Southern Poland.

Savills has successfully facilitated the disposal of Green Park, Letňany, in Prague 18. The Creditas Nemovitostní I fund has acquired the property.

Savills, on behalf of private investors, together with CA Ventures and Golub & Co., has completed the sale of LivinnX, a Purpose Built Student Accommodation (PBSA) building in Kraków, Poland, to Xior. The asset, LivinnX, has 290 self-contained units with 673 student beds and offers many amenities, including a roof terrace with a jacuzzi, climbing wall, gym, sauna, community kitchen, laundry room, music room and various other recreational and study spaces. The total lettable area is c.14,400 sqm. The price has not been disclosed.

The office and business centre Karlák Shopping Square (formerly Charles Square Center) owned by KGAL is getting a new face. The complete rebranding, architectural modifications and reconstruction of retail and office spaces, including a modernised logo are all included in the reconstruction plan.

Upvest has recently closed an investment in the form of participation in a mezzanine loan for the Opatov Office Park in the Czech Republic, where Savills' technical assessment has played a crucial role.

On 1 March 2024, Savills expanded its Operational Capital Markets (OCM) division in Poland to provide advisory services for property investors, developers and operators across all operational real estate sectors.

Only 60,900 sqm of office space was completed in the Polish capital in 2023, the lowest total in the history of the Warsaw office market. Savills also notes that development activity in Warsaw picked up in the second half of last year in response to a prolonged period of undersupply. In the most optimistic scenario, approximately 445,000 sqm of new office space will be delivered onto the Warsaw market in 2024–2026. 

The Prague Research Forum – CBRE, Colliers, Cushman & Wakefield, iO Partners, Knight Frank and Savills – has shared an updated Prague office market insight. Figures and data for Q4 2023 have confirmed a cautious approach both from developers and tenants.