Newly established Regional Research Forum presents 2010 Brno Office Market Data

The Regional Research Forum was established by CB Richard Ellis, Cushman & Wakefield, DTZ, Jones Lang LaSalle and King Sturge with the aim to provide clients with consistent, accurate and transparent data about the regional office markets in the Czech Republic. The members share non-sensitive information and believe the establishment of the Regional Research Forum will contribute to the improvement of transparency on the regional Czech office markets. Brno, Ostrava and Plzen are the first regional office markets being monitored within Regional Research Forum.

Brno Office Supply/Stock

The total modern office stock in Brno currently stands at 343,000 square meters. A class properties represent 79% of the modern stock and B class properties represent the remaining 21%.

In 2010, two properties were completed: CTPark Brno Honeywell Office Campus (8,000 sq m) and Administrativni centrum Magnum (5,700 sq m).

In 2011 we expect the completion of up to approximately 17,500 sq m of modern offices.

Brno Office Take-up

In 2010, gross take-up (including renegotiations) reached 35,000 sq m. The biggest deals were AVG Technologies (8,400 sq m) in Spielberk Office Centre, Ceska Sporitelna (2,000 sq m) in The Campus and Miele (1,900 sq m) in Spielberk Office Centre.

Vacancy

A total of 38,300 sq m of modern warehouse space was vacant at the end of Q4 2010. The vacancy rate stood at 11.2%.