Kevin Turpin, Regional Director of Research | CEE adds: “Due to the various measures imposed to keep people safe and prevent the spread of the virus, including flights and border restrictions, we expect that the volumes in Q2 and Q3 will be significantly impacted as all parties involved in transaction processes are largely unable to meet or visit properties.”

Kevin Turpin

Regional Director of Research | CEE
Colliers International

Kevin joined Colliers in October 2019 as the Regional Director for Research in CEE and has been working in the commercial real estate industry in the field of property market research and consultancy for over 14 years. The research and consultancy team consists of 18 research analysts, covering numerous markets across the CEE region. Kevin’s role is responsible for the delivery of market research and insights to both Colliers clients and its business lines. Kevin and team research and advise on all market sectors with a key focus on offices, retail, industrial & logistics and investment. Kevin's previous roles have been in the HR consultancy, information technology and public sectors, where he has gained valuable international experience working with people, technology, business and finance. More »

In addition to these hopefully fairly short term restrictions, many property owners and managers are currently busy assessing and managing any risks to their assets. Individual responses to the pandemic by the region’s governments have, to date, mainly been focused on addressing the salaries of employees and supporting businesses, particularly those most impacted by the restrictive measures. Other than some potential short term tax relief, many property owners may well feel left out when it comes to the protective measures.   

According to initial results from an ongoing Colliers survey, investor appetite remains strong, the volume of capital for deployment also remains and could potentially increase, but many investors will hold off on decisions for a number of weeks until the situation becomes clearer, particularly in regard to financing, pricing and the ability to physically view potential opportunities.

Andy Thompson, Head of Investment, Czech and Slovak Republics, Colliers International commented: “Of course, there is a bit of “wait and see” in the markets, but as some of the competition sits still, more optimistic parties on both the buy and the sell-side are taking advantage. We are involved in several investment transactions with both local and international investors in the Czech Republic that are progressing. Business will not stand still for long and the investment and occupier worlds are both already waking up to the fact that Czech, Slovakia and wider CEE have responded very positively to the pandemic. The Czech government, for example, has just passed a new directive that regulates loan repayment measures in connection with a pandemic.”

Andy Thompson

Head of Investment Czech Republic & Slovakia
Colliers International

Andy joined Colliers International in 2015 as Director and Head of Investment Services and has been the firm to establish itself as the leading investment consultancy business in the Czech & Slovak Republics. Andy graduated from the University of Aberdeen with a Masters Degree in Land Economy and is a member of RICS. Andy's scope of responsibilities includes the structuring and execution of property asset sales and acquisitions, both buy & sell-side commercial due diligence and advisory, commercial negotiations of sales and purchase contracts and supplementary transactional documentation as well as transaction co-ordination. Andy differentiates his services through exceptional client care and attention to detail ensuring the best terms for his clients. More »

Harry Bannatyne, Partner and Head of Industrial, Colliers International Czech Republic, added: “There could be also opportunities emerging from the crisis. The CEE market could hopefully see more manufacturing nearshoring again, returning from at-risk countries such as China, North America, Asia to supply Europe. The Czech Republic is perfectly situated for this as it is not only very strategically positioned, but it also has a long tradition in industrial manufacturing and innovation and some great engineering skills. This would create a new supply of space needed within the country in the mid to long term. Also, with more than 400 new e-commerce companies being established within the Czech Republic alone we will see a significant increase in space needed to accommodate this new business. I strongly feel that out of all real estate sectors that industrial & logistics will have the most positive outcome compared to other sectors such as retail, office and also residential.”

Harry Bannatyne

Partner and Regional Director of Industrial Department
Colliers International

Harry Bannatyne is a Partner and Regional Director of Industrial Department at Colliers International Czech Republic since December 1st 2019. He has been working in the CEE Industrial business for over 10 years with vast experience gained as his last appointment as Head of CEE industrial for JLL. With a good understanding of the industrial sector including supply chain, Harry is a partner in the business with good connections with developers and end-users alike. Over the last 8 years, Harry has accomplished more than 100,000 sqm on a yearly basis helping tenants such as Metro/Makro, Mattel, Foxconn amongst others. After Glasgow Academy schooling, Harry went on to complete a merit HND in Marketing and Business. Prior to moving to the Czech Republic, he had his own business in Scotland, buying and selling commercial businesses and brings valuable business knowledge. He is on the Leadership Board for logistics and industrial in Colliers and a member of AFI.

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All of the above outlook is subject to how long the pandemic will continue to impact on our lives, to what extent of damage is caused economically and how all active players can recover and adapt to the changes that will certainly come, or at least remain in the short to mid-term future. After all, whether you are a developer, bank, investor, occupier or advisor, there will be an impact for all.