With the arrival of 2020 and the Czech real estate consultancy 108 AGENCY entering the new decade, its organisational structure has been changed. These changes affect the Industrial and Offices divisions of the Czech branch.
108 AGENCY, a real-estate consulting agency specialized in commercial properties in the CEE region, has expanded into the Hungarian market. The main goal is to become a trusted, full-service provider of a comprehensive portfolio of services in the commercial real estate sector.
In the first quarter of 2020, vacancy rates in industrial real estate in the Czech Republic reached a value of 5.0 %. The reason for this is not the virus pandemic, however, but rather a number of completed speculative projects which have not as yet found tenants. While many manufacturing sites have halted operations or closed, Czech e-commerce is growing rapidly. The real estate market in the industrial and warehouse sector has always come out of crises well, and any impacts from the coronavirus crisis are minimal.
108 AGENCY managed to mediate the sale of Business Park Vlčie hrdlo – a site suitable for redevelopment together with two office buildings in Bratislava. The Czech developer CONTERA has purchased it from the Natland investment group, which had managed the former brownfield with an area of 33,420 sq m since 2020. It wants to continue in modernization and revitalization of the premises and create the so-called small business units concept there.
108 AGENCY real estate consultants have won the Best Warehouse Real Estate Agency category in the CEE (Central and Eastern Europe) and SEE (South-East Europe) regions for the second year a row, awarded by the prestigious HOF Awards 2020.
Extensive restrictions due to the coronavirus pandemic have also impacted the commercial real estate market. The first consequences are now evident, and many sectors may end up facing existential difficulties. At the current time, however, it is retail which is suffering most, its activities cut back heavily. We are going to have to wait a few months more, however, to evaluate the true consequences of the worldwide coronavirus crisis.
Since February 2020, 108 AGENCY has been a member of ABSL Czech Republic (Association of Business Service Leaders), which brings together and represents companies which operate in the business service sector in the Czech Republic. They will share a knowledge of the commercial real estate market, and an innovative approach.
If there was sufficient space around larger cities such as Prague, Brno and Plzeň today, developers would continue to build there on a large scale. But instead they're focusing their activities on the border with Germany, and in particular the Moravian-Silesian Region. At least that's how the developers' representatives see the current situation and immediate future.
In January, Katarína Holcová will join 108 AGENCY, and will lead the sales team from the position of CCO.
