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.
Although the headline proclaiming “the end of the office” is eye-catching, most professionals agree that COVID-19 will definitely not kill off the office. On the contrary they predict the “new normal” after the pandemic is over will reinforce the importance of the office. However they also say that the office will serve a completely different purpose and will be entirely revisited in terms of design and space allocation.
Prague 13 has signed a memorandum with the development company Trigema about the planned construction of the Top Tower at the Nové Butovice metro station, which is to become the tallest building in the Czech Republic.
The Brno startup Smartlook, which focuses on analyzing the behavior of users of websites and mobile applications around the world, has moved to new offices in the center of Brno. The modern premises provide plenty of space for employees to meet and hold corporate events. The design of the interior was undertaken by the PREMIER interiors studio, which used unique elements such as a standing wooden tree or heraclith ceilings. In addition to the unique design, the new place offers a view of the entire surroundings of the largest city in Moravia from Pálava to the Moravian Karst.
The coronavirus pandemic significantly affected not only the functioning of society as a whole, but also changed the current rhythm in office centers. With the introduction of work from home, many companies now face a new challenge in dealing with office space. The winners will be those who adopt a flexible model: this means that they will have an immediate transition to the online environment and will be able to react quickly and without significant losses to unpredictable situations. At the same time, however, they must not lose the irreplaceable function of the office - its social aspect. CBRE, a world leader in commercial real estate services, presents areas that are recommended for offices to focus on. They also advise on how best to incorporate change into the operation of companies.
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