Buying an office space has not been common in our market, mostly due to lack of quality offer, predominantly in older buildings as the only available.
However, possessing an office space entails numerous advantages for the owner companies in terms of the long-term stability, which in the forthcoming period is expected to trigger greater demand, as a result of stronger economic and financial stability of the local companies in the past couple of years.
Among the numerous pros of purchasing an office space is the alluring return on investment, for which the market expectation is less than 15 years, which long-term speaking increases credit worthiness of the company, allowing for the use of the property as a collateral, yet also giving your business clear fixed costs.
On another note, spare office space can further be rented out, adding another source of income for the company. The best part however, is that looking 10+ years ahead, the prospect of owning an office space and having a property appreciate over time, with already returned investment allows the owner to sell out and fund their retirement.
The companies with large potential and speedy growth most often choose to rent, whereas the purchase of an office space is potentially the choice of the stable companies most commonly from services industry.
Though Belgrade office stock exceeded 1 million square meters, with the newly built 100,000 square meters last year, and thereto marked a record in the past 10 years in terms of the intensity of the construction activity, purchasing an office space which does not imply the whole building, or an old one, is the trend that more and more attracts local and international companies operating in our market, yet the offer has so far been very limited. Central Business District in New Belgrade continues to attract most companies, while almost 75% of all office buildings are located in New Belgrade.
In one of the most prominent streets within central business zone, in Milutina Milankovica Blvd, new office complex Bridge Plaza is starting construction, offering for the first time in the market the choice to purchase or to rent modern office space tailor-made to true needs of the companies.
Totaling over 16,000 sq m GBA, Bridge Plaza office complex features two 8-floor office buildings, with 3 underground parking levels, and centralized facility and property management services.
Future owners and tenants are moving their businesses to a new corporate environment in autumn 2022. Sales and Leasing Representative for this contemporary office concept is the leading real estate consultancy in Serbia – CBS International, part of the Cushman & Wakefield Group.
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