Global real estate consultant Cushman & Wakefield has opened an office in the Slovakian capital Bratislava. The Managing Partner of the new office is Andrew Thompson, currently Head of Office Agency and Client Solutions for Cushman & Wakefield in the Czech Republic.
The office, a subsidiary of the C&W office in the Czech Republic, given the business ties between the two markets, offers a full range of property services across all sectors, including retail, office, industrial and hotels.
Andrew Thompson, says: "Strong economic growth, forecast to reach more than 7% this year, is encouraging existing occupiers to grow, in addition to drawing in new occupiers and cross-border investors. Yields vary from 6% for prime offices to 7% for industrial, which are around half to one percentage point higher than similar product in the Czech Republic."
Jonathan Hallett, Head of Cushman & Wakefield in the Czech Republic and Slovakia, says: "Cushman & Wakefield has operated in the Slovak market for several years on behalf of a range of clients via our Prague office. We took the decision to open our own dedicated office in Slovakia given the market's rapid expansion and the rising interest from our cross-border clients, and reflecting our firm's general expansion in the Central and Eastern European region."
On-going work being carried out by Cushman & Wakefield in Slovakia includes the leasing of five shopping center schemes with a total 140,000 m² of retail space, including Pribina Galeria, being developed by Ballymore in Bratislava, and Laugaricio Trencin, a scheme of CBE. In addition, Cushman & Wakefield is currently leasing around 300,000 m² of industrial space for developers including CTP, Prologis, Pinnacle and IIG. For offices, C&W is acting for a number of corporate occupiers, as well as leasing the 28,000 m² Lakeside Park on behalf of TriGranit. Shopping centers managed by C&W in Slovakia include the MAX Shopping Centres in the cities of Trnava, Poprad, Trencin and Nitra on behalf of GE Real Estate.
Source: Cushman & Wakefield