CPI Property Group, the largest property owner in Berlin, Prague, Warsaw and the region of Central and Eastern Europe, is pleased to announce its unaudited financial results for the third quarter of 2020.
In order to become successful in the highly competitive business of commercial real estate it is very important to invest in lead generation.
Nowadays when a great part of real estate lead generation takes place online, you can use multiple ideas and strategies to keep the clients coming. Here are some of them:
Different temperatures in different rooms, air control or reducing the energy intensity of a building by efficient use of alternative sources. These are just some of the benefits of building automation. It offers simplification of maintenance and significant financial savings, especially for large office buildings, hotels or industrial buildings. In the Czech Republic, however, we still have a long way to go compared to the West.
The more than a billion-dollar reconstruction of the functionalist building known as the Palace of Electrical Enterprises is almost complete. The unique building in Prague's Holešovice, which was originally completed in 1937, was successfully approved. Marketing, advertising and PR agencies, which are part of the multinational company WPP, will soon move into the renovated office space. The company, which will occupy almost 2/3 of the building, is now starting to prepare and implement its future offices. The Bubenská 1 project is one of the largest and most technically demanding reconstructions of a listed building in Prague.
The Flow Building, a multi-purpose project of Flow East on Prague's Wenceslas Square, is the first building in the Czech Republic to achieve the highest possible "Outstanding" rating according to the current BREEAM certification scheme.
In the first nine months of 2020, over 140,000 m2 of office space was added to the Prague real estate market. Compared to last year, this is an increase of 35%. Construction did not stop even during the 3rd quarter, new projects were also launched. This is despite the fact that the coronavirus pandemic has reduced demand from tenants. The quarterly analysis of the international consulting company BNP Paribas Real Estate shows that 7.2% of modern offices are currently vacant in Prague, which corresponds to 267,300 m2 of space. However, the offer of so-called subleases (under leases) is also growing, which do not appear in the official register of vacant space. According to the analysis, there could currently be around 80,000 m2 of space for rent.
Arcadis Czech Republic was the first in continental Europe to receive for its office in the Czech Republic an assessment of the quality of the working environment according to the international WELL Health-Safety Rating standard for operation and maintenance, prepared under the auspices of the International WELL Building Institute (IWBI). This independently validated assessment for new and existing buildings and premises is based on the evaluation of documentation on operational guidelines, maintenance, stakeholder involvement and crisis measures contributing to a safe working environment with regard to the spread of COVID-19.
Prochazka & Partners follows up its spring client research on the future and use of offices. The survey, which takes place during the second lockdown, which the Czech Republic is now facing, was attended by almost 100 companies with a floor area of over 350 thousand. m2 (approximately one tenth of the Prague market). The company most often solves the current crisis by looking for a subtenant (16.5%), reducing office space (11.5%) or negotiating a lease on more favorable terms (8.2%). On the contrary, 9.8% of respondents are thriving and expanding despite the crisis. The rest (54.1%) then waits for the end of the lease, as current conditions prevent them from resolving the situation more effectively.
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