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Bratislava Research Forum Announces Office Market Figures for Q2 2019

Office Supply/Stock

In the second quarter of 2019, the total office stock of A and B Grade quality in Bratislava amounts to more than 1.8 million square meters. 62% of the space is represented by A-class office space and 38% by B-Class office space.


Total modern stock according to BRF classification


  Total modern stock according to Bratislava districts

                      

One new office building, Westend Plazza within the Patrónka area, was completed in the second quarter of 2019,  adding 33,000 sq m to the modern office stock in Bratislava. There are seven office buildings under construction to be completed in 2019/2020 and these will bring 118,000 sq m of area to the Bratislava office market.

Green Certified Buildings

Within the total office stock 32 buildings, representing more than 621,000 sq m or approx. 35% 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 second quarter of 2019 amount almost 80,000 sq m, which represents more than 160% increase of the let area compared to the previous quarter. Renegotiations represented 66% of all transactions, new leases secured 33% and share of 1% was attributed to expansions.

There were two big leasing transaction (renegotiations) recorded in a total size of 19,811 sq m and 18,000 sq m. Both companies operate in IT sector. In addition, we monitored another eleven transactions with the area of over 1,000 sq m.

In the second quarter of 2019, the majority of all transactions were signed within the IT sector (63%), followed by Professional Services sector (13%).

Office Take-Up according to sector for the second quarter of 2019:


Significant Office Transactions

Property

Let area (sq m)

Occupation

Type of deal

Cubus

19811

IT

Renegotiation

Westend Gate

18000

IT

Renegotiation

Nivy Tower

5950,8

Prof. services

New lease

Nivy Tower

2435,8

IT

New lease

Apollo Business Center II - HB Reavis

2400

IT

Renegotiation

City Business Center V

2279

Manufacturing/Construction

Renegotiation

City Business Center III

1659

Consumer Goods

New lease

Polus Tower I

1582

Consumer Goods

Renegotiation

CEOP

1394

Finance/ Banking/Insurance

Renegotiation

City Business Center III

1360

IT

Renegotiation

Krížkova 9

1343

Public/Embassy/Trade Council/Diplomatic

New lease

AC Petržalka - A block

1259

IT

Renegotiation

Sky park

1200

Legal

New lease

Office Vacancy

The overall vacancy rate in the second quarter of 2019 for Bratislava has increased to 8.06% from 7.75% in the previous quarter. This increase was mainly caused by completing construction of Westend Plazza with remaining vacant area of 20,000 sq m. The lowest vacancy rates were recorded in Bratislava III (2.86%), followed by Bratislava I (4.62%), Bratislava II (9.29%) and Bratislava V (10.32%). The highest vacancy rate was recorded in Bratislava IV, in the level of 26.39%.

Prime Rent

The Prime Rent remained unchanged at 17.00 EUR/sq m/month.

For further information please contact any member of the Bratislava Research Forum.