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Articles - kancelářské prostory

Bastion Florenc - a new building on the border of the center of Prague and Karlín is under construction

ČSAD Praha holding a.s. announces that the construction of the BASTION FLORENC commercial administrative center has recently started on its land. With its name, the building located in the very heart of the Prague crossroads refers to the foundations built above the former baroque fortifications of Bastion XXII. The beginning of the construction dates back to 1648, when the Prague fortifications began to be built and were completed in 1679.

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Developers of office buildings in Prague have changed their deadlines

Up to 700,000 m2 of new offices could be added to Prague by 2025. Currently, about a third of this volume is in the construction phase. However, due to the prevailing slowdown in demand and the growth of vacancy in both existing and new office space, many developers are adjusting their plans: they are postponing the start of construction and slowing down implementation. Others are considering the future use of projects from purely administrative to a mix of office, residential and retail space.

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Building B welcomes new tenant - the Centre of Shared and Technology Services of the world’s largest brewer, ABInBev

Building B in Prague’s BB Centrum has acquired another tenant. This March, ABInBev, the largest brewer in the world, owning brands such as Stella Artois, Leffe and Corona, headquartered its global shared service centre here on an area of more than 7400 m2. The owner and manager of the building is the Passerinvest concern.

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Nothing is more expensive than a free meter of shop or office

The year 2020 closed stores, drove people out of offices and significantly changed conditions in the real estate market. While until last spring, commercial property owners could choose who to rent space to and set prices, now the situation has changed.

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Czech year on year investment volume falls by only 8%

A total investment volume of €290 million was transacted in the Czech Republic during the first quarter of 2021, according to Savills latest research. Without the exceptional €1.3 billion Residomo portfolio sale transaction, the investment volume was only down by 8% y-o-y.

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The need for offices will remain, but the space will be reduced

Last year, the demand for offices in virtually all European countries fell sharply. Compared to 2019, it decreased by 41% to 9 million m2. This was the lowest volume of realized demand since 2009. According to analysts of the international consulting company BNP Paribas Real Estate, there is already a recovery in this year's tenant activity, but the office market is not expected to recover until 2022. At that time, demand should reach 12.2 mil. m.

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Real estate investors are looking for opportunities in the regions

The activity of real estate investors fell to the lowest values since 2013 in the first quarter of this year. The owners changed their commercial (and residential) buildings for EUR 310 million. Rather than the effects of covid measures, the result was affected by the lack of quality real estate to buy.

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Changes in lease agreement terms? Start-up leading the way!

Explosion of teleworking, advent of flex-office, new organization of spaces: the place of the office in the post-Covid-19 economy is clearly being called into question.

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Tereza Matejkova

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