Office vacancy rises slightly in Slovakia
Bratislava’s total stock office stock remained unchanged at 1.5 million sqm in the last quarter of 2012, as there were no significant completions recorded, writes CBRE in its end of year report.
Most of the space added during last year came in the third quarter, when 43,900 sqm came on-line. Looking ahead to 2013, the agency predicts that 51,000 sqm will be added to the city’s total, just half of Bratislava’s six-year average of 101,900 sqm. Roughly 36 percent of the space this year has been preleased already at HB Reavis’s Forum Business Center.
Vacancy rose by 0.5 percent in the fourth quarter of 2012 to 12.5 percent, as the telecom Orange moved out of its 19,000 sqm at BBC IV and into the new office building a Central. CBRE estimates that 35 percent (8,700 sqm) of the total leasing activity in Q4 came as tenants moved out of class C space into class B and A offices. Overall, the 25,100 sqm of leasing completed in the last quarter of 2012 was 26 percent less than in 2011, and 19 percent off the pace of Q3 2012. Achievable headline rents at premium office space in Bratislava are currently €16-€17 per sqm in the city center, writes CBRE. Non-prime locations are fetching €12-€14 per sqm per month. (source: cijjournal.com)