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Bratislava Research Forum Announces Office Market Figures for Q1 2018

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Introduction

The Bratislava Research Forum is pleased to announce Office Market figures for Q1 2018.
The members of the Bratislava Research Forum (BRF) – Cushman and Wakefield, CBRE, Colliers International and JLL share non-sensitive information with the aim of providing clients and public with consistent, accurate and transparent data about the Bratislava office market.
The market is classified into city centre, inner city and outer city as outlined in the plan below to allow a simplified analysis. In addition, data is collected also according to Bratislava districts.

Office Supply/Stock

In the first quarter of 2018, the total office stock of A and B Grade quality in Bratislava amounts almost 1.72 million square meters. 59% of the space is represented by A-class office space and 41% by B-Class office space.
In the first quarter of 2018 hasn´t been completed any office building in Bratislava. In the second quarter we are expecting the delivery of projects Blumental Offices II, Einsteinova Offices a Westend Plazza,which will bring more than 64,000 sq m of office space to the market.

Green Certified Buildings

Within this total stock 28 buildings representing approx. 537.000 sq m or approx 31% of the total stock have secured certification as green/sustainable developments – either LEED or BREEAM ratings.

Transactions on the Office space market (Office Take-up)

Transactions that have been concluded in the first quarter of 2018 represent a total amount of 27.000 sq m, which represents a 68% decrease when compared to the previous quarter. New leases represented 32% of all transactions, preleases represented 31%, renegotiations represented 24% and 13% were attributed to expansions.
In Q1 2018 the biggest leasing transaction (pre-lease) recorded amounted to 6.638 sq m. In addition, we monitored three other transactions over 1.000 sq m.
In the first quarter of 2018 the majority of transactions were signed in the IT sector (34%), followed by professional services sector (18%).

Significant Office Transactions

6.638 m² - Panorama Business 3 (under construction), Pre-lease (IT)
2.379 m² - Aupark Tower I, Renegotiation (Telecoms)
1.606 m² - Blumental Offices – Phase 1, New lease (Finance/Banking/Insurance)
1.118 m² - Astoria Palace, New lease (Professional Services)

Office Vacancy

The overall vacancy rate in the first quarter for Bratislava has slightly decreased to 5.99 % from 6,18% in the previous quarter. The lowest vacancy rates recorded were in Bratislava V (3.22%), followed by Bratislava I (5.053%), Bratislava II (6.74%) and Bratislava III (8.01%). The highest vacancy rate was recorded in Bratislava IV - 9.05%.

Prime Rent

The Prime Rent has increased to 17.00 EUR/sq m/month from 16.00 EUR/sq m/month in the previous quarter.


Contact

Zuzana Gurova

Head of Marketing

Bratislava, Slovakia

Phone +421 2 259209366

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