The Globalworth’s portfolio in Romania has been consolidated by the prolongation and/or the extending of the lease contracts for a period of 3 – 11 years with key partners such as Adecco, Cegedim, Clinicile și Laboratoarele Sfânta Maria, Mazars, and one of the most important banks in the system that has rented the Globalworth building on the Exhibition Boulevard.
In the context of social distancing, the need to increase the existing areas in the office buildings is becoming more and more obvious. Therefore, a total of over 25,000 square meters have been rented in Globalworth Plaza, Globalworth Campus and in the building on the Exhibition Boulevard. Since the National State of Emergency is over in Romania, the companies consider reconfiguring the office spaces, so that the employees keep being safe when returning to work. For the last few years, the trend in the office sector has been the open space. Now, we focus on safety and social distance between colleagues. The new workplace planning led to an increase demand for space – the number of square meters of office space went up from 10 to 20 m² per employee. This allows changing the layouts, rethinking open-space areas, expanding kitchens, common areas or meeting room and ensuring more distance between workstations.
“The transactions of the last 3 months confirm the strong partnership that Globalworth has with its tenants. Not only the lease contracts have been prolonged, but we have also received numerous requests to increase the office space, so that the workplace is as safe as possible. We are grateful for the trust of our business partners and we are confident that together we will get back to the normalcy we all miss. The experience of living through a pandemic will have a long-lasting impact on the way we live and work, and this is why the leasing team in Romania came up with tailored solutions to accommodate the current tenant’s needs, to help them respect the distance inside their spaces”,
Head of Leasing at Globalworth Romania.
“Mazars is happy to extend its office space and the long-term partnership with Globalworth. The extension is required to facilitate our growth into the new normality.”, mentioned
Partner, Head of Tax Advisory at Mazars Romania.
In the first month after the lockdown, 25% of the Globalworth tenants returned at the office and a gradual increase of up to 100% is foreseen until September 2020. In addition to solutions related to increasing demand of space, Globalworth has implemented a series of safety and hygiene measures for all the 14 buildings in the Romanian portfolio.
These measures are constantly being adjusted and concern a series of actions such as rethinking the traffic circuits inside buildings and common areas, taking measures to ensure the increased efficiency of the HVAC system, installing antiseptic carpets, applying floor stickers to indicate the safe distance, informing employees and visitors about the rules (keeping distance, washing and sanitizing, wearing masks), installing disinfectant dispensers, re-enforcing the cleaning and sanitation program, etc. The full list of measures can be checked here.
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 200 professionals across Romania and Poland, the combined value of its portfolio is €2.85 billion, as at 30 June 2019 pro forma for subsequent acquisitions. Over 95% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 685 national and multinational corporates. In Romania, Globalworth is present in Bucharest, Timisoara, Constanta and Pitesti, while in Poland its assets span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice.