BCR in the market for 15,000 sqm of office space in Bucharest

Newsroom 26/08/2014 | 00:36

Austria’s Erste-owned BCR, Romania’s largest bank, is looking for up to 15,000 square meters of office space to relocate some of its operations in Bucharest, according to sources on the real-estate market quoted by ZF.

The bank recently ran a selection process for brokers to provide assistance in this process which may conclude in its initial phase with renting 4,000 to 5,000 square meters of space.

“Optiminzing activity spaces is an ongoing project for the colleagues at Real Estate Management”, according to BCR representatives who didn’t provide any further information.

BCR Management and the biggest part of bank operations are currently performed from the Bucharest Financial Plaza building on Calea Victoriei, known as the former HQ of Bancorex. BCR also runs operations in America House, but also in its palace in University Square. BCR Pensii is headquartered in a building on Biharia steeet, in Baneasa.

According to a recent report from DTZ, 15.7 percent of office space in Bucharest, meaning 330,000 square meters, was still vacant in the first semester of 2014, with over 30 percent of the unoccupied area being in Pipera.

In Center-North, the vacancy rate is 16 percent, while in Barbu Vacarescu – Floreasca, it drops to 14 percent.

Office space in the Capital totaled 2.114 million square meters at the end of June, with 3 percent of the area represented by new deliveries. There are still 132,000 sqm of space left to be delivered by the end of the year, 60 percent of it already leased.