New leases continued to dominate the Bratislava office market in the third quarter, with total deals amounting to 62,650 sqm, according to the recent report by JLL. This marks a 41-percent jump from the previous quarter. Net take-up reached 34,000 sqm in Q3, with almost 87 percent of all transactions (42,000 sqm) concluded in the city’s second and third districts, including the largest deal of the quarter – a 11,600 sqm renegotiation on Galvaniho. The projects that closed the most deals included BBC V, Jarosova, Twin City and Polus Tower I and II.
While vacancy decreased slightly from 11.78 percent to 11.49 percent q-o-q in Q3, the city’s office supply remained flat at 1.54 million sqm. A few projects are currently under construction: Twin City (HB Reavis), Stein (YIT), Panorama BC II (J&T), Blumental (Corwin Capital), Zuckermandel (J&T Real Estate), Rosum (Penta Investments), Uniq (Cresco). Their completions will add another 168,000 sqm to the Bratislava market. The first phase of Twin City (16,000 sqm) is expected to be delivered by the end of 2015.
