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News

Commercial Investment

Berlin, Amsterdam, Madrid and Munich offices now offer ‘fair value’ as European prime office yields move out a further 20 bps during Q3

"Office assets in Berlin, Amsterdam, Madrid and Munich now all sit within fair pricing territory and require the lowest capital value corrections in Europe, according to new analysis by Savills. The international real estate advisor says that these markets all saw outward yield movement in Q3 2023 while low vacancy rates look set to continue to support their rental growth over the next 12-18 months. "

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News

Office Space

Savills: AstraZeneca is a new tenant at Equal Business Park in Kraków

"Apollo-Rida, the owner and property manager of the Equal Business Park in Krakow, has signed a lease for nearly 1,000 sq m of office space with global biopharmaceutical company AstraZeneca Pharma Poland. The landlord was advised during the transaction process by real estate advisory firm Savills, the sole leasing agent for office space in the complex."

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News

Capital Advisory

WorkLounge is expanding. It is buying City Point in Prague for more than CZK 450 million.

"WorkLounge, an operator of coworking spaces and serviced offices, has completed the acquisition of the City Point office building in Pankrác, Prague 4. It is taking over the building from the investment company Amundi Czech Republic, which previously owned the building. Mint Investments Group was the investment advisor to Amundi. Representatives of Savills, Cushman & Wakefield and Havel & Partners also participated in the transaction. The value of the transaction exceeded CZK 450 million."

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News

Industrial and Logistics

Octava sells development plot for SBU near Warsaw Chopin Airport

"Octava Property Trust (OPT) has sold a development plot for an SBU warehouse project to an Austrian investor. According to real estate advisory firm Savills, engaged in the search for investors in partnership with Avison Young, Warsaw is the fastest-growing warehouse market in Poland."

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News

Office Space

The expansion of serviced offices in Prague is the second highest in Europe, right after London.

"According to the latest research by Savills and its flexible office sector partner Workthere, London City remains the most active flexible office market in Europe. In H1 2023, the sector accounted for 13% of London’s office take-up, followed by Prague (8%), Amsterdam (6%), Madrid (5%) and Warsaw (4%). Flexible office providers in the Czech Republic are consolidating and the market is currently dominated by three main players. In addition, growing demand is further motivating flex operators to search for new attractive locations."

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