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Aug 17, 2018

Two new office buildings completed in Brno in the first half of 2018

The Regional Research Forum presents the latest office market data in Brno. The members of the Regional Research Forum are CBRE, Colliers International, Cushman & Wakefield, JLL, Knight FrankThanks to this collaboration, we can provide consistent, accurate and transparent data about the regional Czech office markets.

Office Supply/Stock

Total modern office stock in Brno reached 570,300 sq m in the first half of 2018. A-class properties represented 82% of the modern stock and B-class properties represented the remaining 18%.

There were two new office buildings completed in Brno in the first half of 2018: Campus Science Park DE (13,300 sq m) and Vlněna Office Park FG (12,400 sq m). Currently, there is 63,500 sq m of office space under construction in six projects of which approximately 24,900 sq m is expected to be completed by the end of 2018.

Office Take-up

In H1 2018, gross take-up (including renegotiations) reached 45,600 sq m, which represents 55 % increase in comparison with the previous half a year and a year-on-year increase of 80 %.

The biggest transaction of the first half of 2018 was the pre-lease of Moravia IT in Vlněna Office Park AB (8,500 sq m) followed by the renegotiation of AT&T in Campus Science Park C (8,000 sq m) and the renegotiation of Monster in Spielberk Office Centre Villa H (2,400 sq m).

Vacancy

A total of 50,200 sq m of modern office space was vacant at the end of H1 2018. The vacancy rate accounted to 8.8%, representing a increase of 1.5 percentage points compared to H2 2017.

Rents

In H1 2018, prime headline rents in the Brno office market increased to 14.00-14.50 EUR/ sq m/ month.