Balance of the first 9 months of 2014: 70% of the villas rented for offices are historic
ESOP Consulting press release
The transactions for renting office space in villas through ESOP Consulting reached a total of 5,246 sqm, of which 3,707 sqm were being spaces in historic buildings. In these villas, cultural institutions, medical centers, law firms, and media or business consulting firms have moved to Q3.
In the first three quarters of 2014, ESOP Consulting, the leader in the segment of renting villas for offices in Bucharest, rented nine villas in Bucharest, which totals a total area of 5,246 sqm. Only three of these were new buildings built in recent years.
“Historic villas continue to retain an unmatched charm for a clearly defined segment of companies looking for office space. Their elements of attraction are numerous: prestigious location and always in a central area, an imposing image, high functionality of the spaces, intimacy and a particular spirit of uniqueness, which is also found in the activity of tenants “, says Alexandru Petrescu, Managing Partner of ESOP Consulting | CORFAC International.
Favorite areas in T3 2014
Tenants in the third quarter of 2014 preferred luxury areas, such as Magheru, Aviatorilor, Kiseleff, and Cismigiu.
VILLA OFFER: the stock of villas with average rental rates increases
In the first nine months of 2014, the stock of office space in villas increased, whose rent is between 11 and 15 euro/sqm/month by seven percent (from 20% at the beginning of the year to 27%). Still, on the other hand, the stock of spaces with tariffs below 11 euro/sqm/month decreased, by four percent and of the spaces over 15 euro/sqm/month, by three percent. Regarding the division of the offer in Bucharest into zones, most of the office spaces available in the villas are in the center-north area, in the second place is the center-west area, and in the third place is the ultra-central area.
As trends, at the end of September 2014, compared to the beginning of this year, there is a decrease in the stock of vacant spaces in villas in the center-north and center-west area and maintenance of the supply at the same level in the other regions.