"The current situation puts companies requiring regular office staff work - and there are already most of them after the pandemic has subsided - in a difficult position. This is not helped by the fact that the majority of the offer in Prague consists of premium "A" offices (73%), which are becoming unaffordable for many tenants," comments Petr Beneš, director of Geosan Development, which is the developer and manager of the Nagano Park office complex in the wider in the center of Prague in Třebešín. Built in 1999, the site has recently been modernized by Geosan Development and now provides flexible office and warehouse space with a total lettable area of 26,000m2. Nagano Park has maintained an above-average occupancy rate of 96% even during the pandemic.
"We believe that our success was ensured not only by a good ratio between the price and the quality of the premises and the related services, good transport accessibility and subsequent infrastructure, but also, at first glance, by the simple fact that we really try to accommodate the tenants. We kept some of them during the pandemic by moving them within the campus to save costs. On the other hand, we extended the premises of several companies. We are also able to be flexible with the currency in which clients pay their rent: we accept payments in kroner, which is not very common these days," says René Bartoník, director of Nagano Park's administration, adding: "Storage facilities are certainly among Nagano Park's other advantages with an area of 1,628 m2, which we offer in addition to office space. These are highly sought after by tenants and are now 100% occupied.”
The Nagano Park office complex includes four office buildings and a data center. It is located in the commercial locality of Prague 3 near metro A Želivského. In addition to flexible class "B" office space, it offers warehouse space and a large guarded parking lot, which will also include a charging station for electric cars. Tenants have access to a common reception, two restaurants and a fitness center. Nonstop services of the property manager are a matter of course. Important companies located in Nagano Park include Citibank, Swietelsky, Strojimport, Spadia Lab, Quantcom, Service Equipment for the Ministry of the Interior, Sharp, CETIN and T-mobile.
(1) According to data from the Prague Research Forum (PRF), which has been mapping the Prague office market for a long time, the share of unoccupied administrative space for the first quarter of 2022 increased year-on-year to 8.4% (compared to 7.6% for the same period in 2021). This increase was due not only to the difficulties that the firms have been going through internally over the past two years, but also to the increase in prices, especially for Class "A" buildings. In the center of the capital, according to the PRF analysis, rents were in the range of 23-24 euros/m2 per month, and even up to 27-28 euros/m2 per month for new buildings, which was previously common only for "trophy administrative real estate". At the same time, there is usually no room for negotiation.