Procrastination is not the way to handle the COVID-19 crisis – Online panel summary

21
Apr
2020
News - Procrastination is not the way to handle the COVID-19 crisis – Online panel summary #conference #coronavirus #Czech Republic #online #panel #Property Forum #report

by Property Forum | Report

Our latest online panel focused on leasing issues arising during the coronavirus lockdown in the Czech Republic. The six experts of the panel, moderated by Jaroslav Kaizr, discussed the impact of COVID-19 on current lease agreements and gave an overview of the potential immediate and long-term implications of the coronavirus crisis.


You can still sign up for our upcoming online events on leasing issues on the Polish and the Romanian markets.

According to Jan Kotrbáček, Head of Retail Agency CEE at Cushman & Wakefield, the leasing situation can be resolved only by a case-by-case approach. Although the government of the Czech Republic has announced recommendations on leasing regulations for retailers during the lockdown, each negotiation process is unique. The lockdown is only the first chapter of the crisis, the process of the recovery may take longer –  a few months or even a year. During the reopening phase (the second chapter) strong support from the government and landlords will be needed to revitalize the retail industry.

Markéta Cvrčková, Partner at Taylor Wessing argued that the government is procrastinating the final decision on the state guarantees for rents. The lack of final and clear decisions by the state is prolonging the process of negotiation for landlords and leasers.

The big hit of the lockdown on the unemployment rate will be observable in the next weeks and this will have a huge effect on consumption behaviour. Even though people will get back to work, the recovery, especially on the hotel and retail market, will take longer, explained Pavel Streblov MRICS, Business Director CRE at Penta Investments.

The current crisis will have a huge impact on technology. We can expect also a big transformation in the retail sector. New technologies, like contactless shopping, drones and smart cameras will fundamentally reshape the shopping experience, added Maxim Shkolnick, Partner at Focus Estate Fund.

We can also expect a change of paradigm on the office market. The demand for flex space will increase, as nobody will want to have long-term liability after this current crisis. This may result in big changes in the office market, such as the reorganization of the office floors, bigger space per person, as well as new hygienic standards, explained Hubert Abt, CEO at New Work Offices.




Latest news


New leases

  • Astellas Pharma has renegotiated its lease for offices at One Floreasca Bucharest in a deal brokered by Fortim Trusted Advisors, an alliance member of BNP Paribas Real Estate.
  • Czech furniture industry supplier Hranipex, a provider of edge banding, adhesives, cleaning products, and accessories, has leased nearly 3,000 sqm of warehouse space at CTPark Bucharest South. The company has relocated its operations to the new facility and is currently fully operational within the park.
  • Oracle has renewed its lease for 600 sqm of office space in Belgrade, in a deal brokered by iO Partners.

New appointments

  • PSN has expanded its acquisitions team with the arrival of Martin Šrytr as Business Development Manager. Most recently, he served as Real Estate Expansion Manager at Twistcafe Group, supporting the company’s EMEA growth. His previous experience includes consulting at Cushman & Wakefield, advisory roles at Prochazka & Partners, and management positions within IWG.
  • iO Partners has announced key leadership changes within its Czech Republic operations as part of its ongoing business evolution. Milan Kilik has been appointed as the new Head of Office Leasing, with a particular focus on client advisory and team collaboration. Concurrently, Petr Kareš has transitioned into the role of Occupier Business Development Director. In this new capacity, he will be responsible for identifying new market opportunities and integrating services across Tenant Representation, Project Management, and Industrial Leasing.
  • Romanian office developer Genesis Property has appointed Cătălin Niculiță as Leasing Manager. With nearly 20 years of experience in the real estate industry, he has held leadership roles at real estate companies such as Atenor, collaborating with major office tenants in the banking, telecom, and IT sectors.


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