COVID-19 brings uncertainty to many tenants, and with current social distancing measures in place as well as a majority of companies transitioning to working from home arrangements, the requirements of an office space have been severely impacted.
In the last month alone, the vacant office space offered by tenants for sublease has approximately doubled (from 50 to 100,000 m2). This is a unique opportunity, especially for small companies with up to 50 employees, which can now afford prestigious "A" offices commonly intended for larger corporations due to the coronavirus crisis. And under very advantageous conditions, often with a better price or higher flexibility of commitment compared to standard five-year contracts.
Only 18% of the companies surveyed reduced their leased office space and 27% gave up the planned expansion.
The pandemic accelerated the onset of new trends. Flexibility is at the heart.
64% of respondents-companies in the Czech Republic and 75% in the CEE region plan to invest in new technologies to support teleworking.
24% of Czech and 32% of Central European representatives of the surveyed companies expect increased interest in the sustainable construction of buildings.
The developer Penta Real Estate has announced a competition for coworking offices in Prague in the Churchill building. The winner was Studio Perspektiv, which created a so-called boutique co-working space for the discerning. It is called Base and is the first branch of the planned network.
Penta plans to build a new residential development on a brownfield site of almost 32,000 sq. m in Prague Nusle. The total investment should reach CZK 2 billion.
Are Green Building Certifications rising?
According to the inaugural International Green Building Adoption Index (IGBAI) - a study by CBRE and Maastricht University (Netherlands) -- major metropolitan office markets across the globe are seeing a significant increase in the adoption of "green" building certification programs. The study reports that 18.6 percent of space in 10 markets across Australia, Canada and Europe is now certified "green" versus just 6.4 percent in 2007.
HB Reavis, the leading commercial property developer in Central and Eastern Europe which entered the London market in 2013, has scooped two industry awards for its prime City of London development, 33 Central.
Prague deputies greenlighted re-development plans for the area surrounding the Smíchov railway station on Thursday, approving a change to the master plan proposed by the project’s developer, Sekyra Group.
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