Take-up volume on the Bratislava office market doubled in Q2, thanks to three large transactions: IBM will move to Westend Gate in November, Johnson Controls will relocated to Panorama Business II and ČSOB will concentrate its activity at Zuckermandel. Taken together, the three contracts total 56,000 sqm of office space were signed by J&T. Once Westend Gate is leased up, J&T plans to start building an additional phase of Panorama City.
According to etrend.sk, a recent JLL report puts the total of office space leased in Q2 2014 at 75,000 sqm, up from 28,000 sqm in Q1. Dalibor Surový, head of the office team at JLL in Bratislava, warns, however, that given the current demand on the Bratislava market, older buildings may remain vacant after tenants move out. This may have a negative impact on the market, increase vacancy and destabilize rent levels, Surový says.
