Office Supply/Stock

In the second quarter of 2016, the total office stock of A and B Grade quality in Bratislava amounts to more than 1.55 million square meters. Almost 58 % of the space is represented by A-class office space and more than 42 % by B-Class office space.

Total modern stock according to BRF classification

We have recorded no new addition to the stock (Supply) in the second quarter of 2016, despite the fact that currently there are several buildings under construction. At the end of 2016 we expect second and third building of Twin City to be completed, which will add another 47,000 sq m to the market. The completion of Rosum and Zuckermandel projects is also expected; together they will bring 58 ,085 sq m of office space to the market.

Green Certified Buildings

Within this total stock 20 buildings representing approx. 248,000 sq m or approx 16% of the total stock have secured certification as green/sustainable developments – either LEED or BREEAM ratings.

Transactions on the Office space market (Office Take-up)

Transactions that have been concluded in the second quarter of 2016 represent a total amount of 66 519 sq m, which represents an increase of 29% when compared to the previous quarter. New leases represented 60 % of all transactions and the remaining 40 % was attributed to renegotiations.

In Q2 2016 the biggest leasing transaction recorded amounted to 10, 600 sq m. In addition, we monitored five other transactions over 2,000 sq m and ten transactions between 1,000 – 2,000 sq m.

In the second quarter of 2016 the majority of transactions were signed in the Professional Services sectors (42,1%), followed by non-categorized sector (19,2%).

Significant Office Transactions

10 600 m² - Lake Side Park, Renegotiation

6 300 m² -   Aupark Tower, Renegotiation

4 987 m² -   Rosum, Pre-lease

3 250 m² -   Twin City B, Pre-lease

Office Vacancy

The overall vacancy rate for Bratislava has decreased to 7,43 % from 7,91 % in the previous quarter. The lowest vacancy rates recorded were in Bratislava IV (2,3 %), followed by Bratislava I (5,5 %). The highest vacancy rate was recorder in Bratislava III which has risen to the level of 15,8 %.