Leading real estate advisory firm 108 AGENCY announces it has purchased 100% of the shares of BNP Paribas Real Estate APM CR s.r.o., the Czech subsidiary of BNP Paribas Real Estate. 108 AGENCY was retained as preferred buyer after a competitive auction and immediately becomes the alliance partner of BNP Paribas Real Estate in the Czech Republic.
The rising prices of construction materials and energy, the increasing cost of land for new construction, a lack of crucial components to ensure continuous production and workforce shortages are all afflicting the industrial sector in the Czech Republic. One solution in regard to the availability of industrial real estate would seem to be the optimising of operations and more frequent investment by many companies into the automation of routine activities.
For the third year in a row, the real estate consulting company 108 AGENCY has won the Best Industrial/Warehouse Real Estate Agency category in the CEE (Central and Eastern Europe) and SEE (South-East Europe) regions at the prestigious HOF Awards 2021.
In a joint effort, we have managed to collect funds which will help former professional athlete Eliška to return to a normal life.
The 8th annual traditional Half Ironman race took place at Lake Mácha on 12 September.
A lack of materials and an increase in the price of construction work is troubling the industrial real estate market in the Czech Republic. Industrial space in desirable locations is in short supply. Occupancy rates in Prague and the close surroundings are rising and vacancy rates have almost reached zero. Tenants are well aware of the situation and it has become more common for them to extend their lease contracts for longer periods.
Over the past few weeks, there has been a sharp rise in the price of crucial commodities in construction, mainly of steel, plastics and wood. Prices are soaring in retail and in the industrial buildings for manufacturing or logistics sector, and these are having a marked impact on already high rental costs.
There are ever more members of our team who focus on a healthy lifestyle, and this goes hand in hand with regular exercise. As such, 108 has decided to support our enthusiasm for exercise with a “million challenge”.
The first quarter of 2021 saw record low vacancies in the greater Prague region, affirming consistent high interest in industrial premises in premium locations. High demand is pushing lease prices upwards, with lease prices having grown by 25 % per sq m year-on-year within the Prague cadastral district, for example. The Czech industrial real estate market is being impeded by drawn-out approval processes and a lack of new options in areas with the greatest demand.
