Regional Research Forum Presents H1 2019 Brno and Ostrava Office Market Data. Photo by Retrend.cz
The members of Regional Research Forum – CBRE, Colliers International, Cushman & Wakefield, JLL, Knight Frank – aim to provide clients with consistent, accurate and transparent data about the regional office markets in the Czech Republic. The members share non-sensitive information and believe that the Regional Research Forum will contribute to the improvement of transparency on the regional Czech office markets.
The Regional Research forum is pleased to announce the Brno Office Market figures for H1 2019.
Brno Office Supply/Stock
Total modern office stock in Brno reached 597,600 sq m in the first half of 2019. A-class properties represented 83% of the modern stock and B-class properties represented the remaining 17%.
There were three new office buildings completed in Brno in the first half of 2019: Vlněna office park AB (19,100 sq m), Vlněna office park – Bochner palace (1,500 sq m), and Svatopetrska C (3,000 sq m). Currently, there is 84,100 sq m of office space under construction in nine projects of which approximately 20,000 sq m is expected to be completed by the end of 2019.
Brno Office Take-up
In H1 2019, gross take-up (including renegotiations) reached 26,300 sq m, which represents 96% increase in comparison with the previous half a year and a year-on-year decrease of 48%.
The biggest transaction of the first half of 2019 was the renegotiation of IBM Česká republika in Technologický Park Brno B, C (6,000 sq m) followed by the new lease of Asseco Central Europe in Šumavská Towers B (1,900 sq m).
A total of 69,600 sq m of modern office space was vacant at the end of H1 2019. The vacancy rate increased to 11.7%, representing an increase of 2.1 percentage points compared to H2 2018.
In H1 2019, prime headline rents in the Brno office market increased to 15.00 – 15.50 EUR/ sq m/ month.
The Regional Research forum is pleased to announce the Ostrava Office Market figures for H1 2019.
Ostrava Office Supply/Stock
Modern office stock in Ostrava stood at 218,300 sq m in the first half of 2019. A-class properties represented 74% of the modern stock and B class properties represented the remaining 26%.
In H1 2019, two new office building were completed in Ostrava, SIC Skelet – A (4,400 sq m) and SIC Skelet – B (2,000 sq m). Currently, there is one office building being refurbished with planned completion in 2020: Trimex Office Centrum (1,500 sq m).
Ostrava Office Take-up
In H1 2019, gross take-up (including renegotiations) reached 2,100 sq m, representing a year-on-year decrease by 69% and also a decrease by 70% compared to H2 2018.
A total of 23,900 sq m of modern office space was vacant at the end of H1 2019. The vacancy rate increased to 10.9%, representing an increase of 1.7 percentage points compared to H2 2018.
In H1 2019, prime headline rents in the Ostrava office market stood at 11.50 – 12.00 EUR/ sq m/ month.
Source: Regional Research Forum
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