Lipscani 1 commercial_ office building eng_2014

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Investement opportunities/ office/ retail market data Romania 2014

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Lipscani 1 commercial_ office building eng_2014

  1. 1. INVESTMENT OPORTUNITY 2014 – historical center of BUCHAREST Anteea Estate www.anteea-estate.ro
  2. 2. Contents Building Characteristics Occupancy rate Lipscani 43 in images 1 2 4 33 Retail/ office market 20145 Building specifications/ facilities
  3. 3. Building Characteristics • Location: Lipscani 43, in the historical center of Bucharest; 3rd district. • Total GLA: 326.62 sq.m. / Leasable area: 297.43 sq.m. • Structure of building: P+2, attic and basement. • Utilities: water, gas, ventilation, waste. • All utilities, cleaning, security services are covered by tenants. SELLING PRICE: 3,500,000 Euro
  4. 4. Occupancy Rate • 90 % occupation rate from the beginning. • Income from current tenants totals 340,000 Euro/ year. • All lease increase each year due to market growth. • The majority of lease contracts are long term contracts. • There is an additional space of 150 sq.m .that can be transformed in a roof terrace ( there are no roof terraces in the historical center).
  5. 5. Photo Lipscani 43 Lipscani 43 building – commercial/office space
  6. 6. Photo Lipscani 43 Gang entrances – Blanari & Lipscani street
  7. 7. Photo Lipscani 43 Gang view
  8. 8. General View of Romanian real- estate market - 2014 • The Romanian real-estate market transactions were around 402 million Euro in the 1st half of 2014 and the entire transitioned surface was over 692,000 square meters. • Compared with first half of 2013 the market reported an increase in investments of 222% (3. 22 times); • In comparison with the entire year , the increase in the first semester was of 17%.* • Due to increased investments the prime yields for the office market suffered a compression from 8,25% to 8%. • The rest of prime yields remained unchanged. * • The prime rent was relatively stable for the commercial centers – 60 Euro/sq.m. / month; 18 Euro/sq.m./month for office space * * According to a CBRE market report
  9. 9. Retail space – Romanian market 2014 - • Retail sales grew by 7.8% in the first five months of 2014. • Occupier demand in Q2 was for the most part stable. Interest was focused primarily on large cities. • On the supply side, this year’s new shopping centre supply will represent a 12-year low, with only 4,170 sq.m of GLA delivered in the first half of the year and 30,000 sq.m under construction and set to be completed in H2. • There are, however, four schemes under construction and due to be added to the market in 2015 and 2016, consisting of approximately 210,000 sq.m of GLA – 3 in Bucharest and one in Brasov. • In Bucharest and major cities the demand is split between major shopping centers ( Promenada, Baneasa, AFI Palace) and major high street locations of which the HISTORICAL CENTER is prime with businesses waiting up to one year for a possible location.
  10. 10. Retail Space – Romanian market 2014
  11. 11. Office space – Romanian market 2014 - • Q2 office take-up reached 89,500 sq.m in Bucharest, marking a 47% growth on previous quarter. • New leases accounted for 40% of take-up, followed by renewals (29%), expansions and pre-leases each with 16%. • Relocations represented 43% of take-up, while 30% was new demand. • Over the quarter 46,700 sq.m of space was delivered in Bucharest taking overall stock levels to 2.1 million sq.m of which approximately 75% is Grade A. • Pipeline activity recorded an increase to 172,000 sq.m, out of which 76,600 sq.m is due for completion over the remainder of the year. • Vacancy rate is expected to remain around 13% as during the last 4 quarters.
  12. 12. Office space – Romanian market 2014
  13. 13. www.anteea-estate.ro Your partner for growth

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