Cushman & Wakefield and Future2 join forces to optimise commercial properties operation
The partnership, covering the CEE region, enables Cushman & Wakefield to advance the development of its property management and technical advisory services by adding deep knowledge of digital building systems.
Jonathan Hallett, Head of Central & Eastern Europe, Cushman & Wakefield: “The partnership with Future2 is aligned with our global strategic priorities to be a data-driven organisation where innovation and sustainability play a key role in the buildings of tomorrow. We are happy that together we can advance the transformation and modernisation of the commercial real estate industry.”
Paul Deverell, Business Director for Future2: “Technology and data have emerged as vital components of building performance. HVAC systems alone are responsible for 16% of global CO2 emissions. Our expertise in building systems combined with Cushman & Wakefield´s position as a leading global property services provider enables us to play a key role in helping managed assets to continually benefit from the adoption of technology and digital innovation.”
Initiatives include building equipment health-checks and analyses of asset operating performance, BMS and HVAC upgrades, operational technology & IoT systems, advisory regarding digitalisation strategies, artificial intelligence and energy management services.
Regardless of the problems that the measures related to the coronavirus crisis have brought to the retail segment new brands keep coming to the local market. Nine of them have arrived or will arrive during the first half of the year, the most prominent one of them being Ireland’s Primark fashion chain.
Bluehouse sold the Korso Karviná shopping centre (in the Northern Moravian region of the Czech Republic) to Conseq Investment Management in this year’s first shopping centre transaction on the Czech market.
The Czech real estate fund Trigea bought the Explora Business Centre office building in Prague’s Nové Butovice from Golden Star Group, an international real estate group, in one of the largest real estate transactions performed this year.
A total of 260 million euros was invested in commercial properties in Czechia in the first quarter of this year; this is roughly 9% less than in the same period last year. Following a period of waiting, the mood among investors is optimistic again, with great interest in buying and a high amount of capital on the market. Nevertheless, transaction activity is low – there is a shortage of real properties for sale. The development in Prague is low across the sectors. This can be a benefit for those seeking to buy – new projects face low competition. In effect, investors’ demand for Prague is huge and logistic properties are an obvious favourite. With almost no vacancy, rents are growing steeply, thus reducing yield and pushing prices dramatically upwards.
IKEA extended their lease contract at SEGRO Logistics Park Prague in the vicinity of the Václav Havel Airport. It will continue leasing the warehouse space totalling almost 12,500 sq m in the building it uses as a goods pick-up warehouse for its customers. The lease transaction was assisted by Cushman & Wakefield, a leading global real estate services firm.
A total of 23 retail park projects with a total area of almost 55,000 square metres were completed in the Czech Republic last year, with the volume of development exceeding a ten-year average. In effect, the aggregate area of all retail parks in the Czech Republic has exceeded one million square metres.
Cushman & Wakefield, a leading global real estate services firm, has analysed the trends in the industrial property sector in five Central European countries (Czech Republic, Hungary, Poland, Romania and Slovakia) in 2020, and the principal findings are as follows.
In 2020, the office market in Brno saw a decline in all indicators that Cushman & Wakefield has monitored in the long-term perspective: the number of projects completed and under construction decreased, as did the absorption rate and demand for space.
In this year´s CIJ Awards Czech Republic, Cushman & Wakefield Retail Agency team was awarded the Best Retail Real Estate Agency, confirming its leading position on the local market.
The latest STR figures show that the Prague hotel market has borne the brunt of the coronavirus crisis in Europe.
With 25 brands, Czech Republic is again the prime destination for international retail brands coming to the CEE , followed by Poland with half as many newcomers.
The great majority of shopping centres should reopen on Thursday 3 December. The footfall and revenue figures show that customers have not given up on visiting shopping centres in the long-term perspective or changed their shopping habits dramatically.