ARTICLES LABELLED WITH TAG office

Penta Real Estate has secured a bank loan of €74 million, or over CZK 1.8 billion, from two banks, ČSOB and Česká spořitelna, for the construction of the office part of the Nová Waltrovka project in Prague's Radlice district, the Czech News Agency reported.

French company Groupama Gan REIM, on behalf of the SCPI Affinités Pierre, has acquired the Green Court Office complex on Budapest's Váci Road from Codic Hungary. The complex, comprising two buildings, offers 20,181 sqm of office space.

Marian Roman has been appointed Managing Director of Europolis Office, the office division of Pavăl Holding. The move came after the holding took over seven Bucharest-based office projects from CA Immo. 

Savills, along with its flexible office specialist Workthere.pl, anticipates that flex office stock in Europe will reach circa 20% of total office stock across the continent over the next 10 years. However, this will vary significantly by location and working culture, as the definition of what is considered ‘flex’ broadens.

One of the largest office complexes in Warsaw’s Mokotów district, Marynarska Business Park, is currently undergoing extensive modernisation. The project is being carried out with particular attention to sustainability. The redevelopment will give a new appearance to the common areas of the office buildings and the outdoor area, where the 6,000 sqm concrete car park is being transformed into a publicly accessible green park. The planned completion date is Q2 2023.

Investment into the world’s office markets fell sharply in Q3 2022, however, there is plenty of capital still circulating poised to target the best assets, as well as any areas of discount, as debt-backed buyers withdraw and others pause decision-making. The Czech market is copying the global market, but the number of opportunities for buyers to source a ‘bargain’ is limited, says Savills in its latest Capital Markets Quarterly report. 

After its August acquisition of the Renaissance Tower office building in Warsaw's Wola district, the company has increased its holdings in the business district of Służewiec. Another office building will be constructed on a plot of nearly 7,000 sqm, located at 10 Marynarska Street, in the immediate vicinity of the existing Adgar Plaza complex.

In the third quarter of the year, the office leasing volume in Bratislava increased by 40% quarter-on-quarter, but in a year-on-year comparison, the volume decreased by 12%, reports the Bratislava Research Forum.

CA Immo has successfully signed the sale of seven office buildings in Bucharest. As CBRE Romania confirmed to Property Forum, the buyer is Pavăl Holding, the investment vehicle of the Pavăl family which also owns Dedeman, the biggest Romanian DIY chain. This transaction marks CA Immo's exit from the Romanian market.

River Development will complete in May 2023 an investment of more than €1 million in a photovoltaic power plant for the generation of green, renewable and clean energy in Sema Parc. The plan will initially cover part of the electricity consumption in three office buildings based in the Bucharest project.