by Bozhidara Georgieva

Excellent offers, active demand and stable rents define the office property market in 2016

We all know that Google's beginnings (and not only Google's) are in a simple garage. But even the most innovative and perspective company needs proper office that will provide it with all the comforts for its stable growth: excellent location, modern communications and amenities, security, space and opportunities for relaxation for the employees.

In the past few years, Sofia is experiencing the construction of offices types A and B, and zones of concentration formed, like the ones along boulevards Tsarigradsko Shose, Cherni Vrah and Balgaria, and in and around Business Park Sofia. As a result, the office property market in Bulgaria is going through a stable trend towards decrease of free spaces. According to a recent survey by MBL|CBRE, in the second trimester of 2016 only 12 percent of the available spaces were free.

Rents are at stable levels. The average rents for class A offices are 11-14 euro/sq.m, and for class B are 6.5-8.5 euro/sq.m. The trend will probably won't last for long: with increased demand and still lagging supply, the prices are likely to go up.

In the past few years, Sofia's Tsarigradsko Shose boulevard had become a preferred location for developing companies due to its easy access to important places like the city centre and Sofia Airport by car or public transport. Ellipse Center stands out among the administrative buildings in the area with its extravagant appearance. Ellipse Center is the first project of Tabet Group in Eastern Europe and combines recognisable shape, elegant design, comfort and style on approximately 13,000 sq.m leasable area. Each floor offers flexible allocation and partition and for companies with non-standard requirements are spaces with floor-to-ceiling height of 5.8 m. There are 134 underground parking lots and 20 ones for guests.

Ellipse Center meets the highest requirements for a class A office building and energy efficiency. That includes a central management system; 16 cm raised floor; 4 modern elevators; 2 staircases; 24/7 reception; CCTV and access control; UPS; HVAC Daikin; backup diesel generator; individual temperature control. The cutting-edge work environment provides as well recreation. The two terraces, at the restaurant and the top floor, offer magnificent view to Vitosha Mountain and the city. The project includes refreshing green areas and fitness and recreational zones.

The updated Ellipse Center is planned to open in the second half of 2017.

When you are looking for a convenient location for your business, along with all that you need to work smoothly, try the offers of АТМ Business Centre (Sofia, 131 Tsarigradsko Shose Blvd, phone: 0889 209 556; www.atmcentre.eu). In it, you will find 8,000 sq.m of office spaces and amenities like air conditioning, Internet, phone and security system. АТМ Business Centre is only 6 km away from the centre of Sofia and is close to Tsarigradsko Shose metro station. The centre has also a medical centre, bank, ATM machine, restaurant, a hotel with an outdoor swimming pool with a terrace bar, conference halls. For clients who arrive in the capital with their own car, but plan to take a plane from the Sofia Airport, АТМ offers parking and transfer to and from the airport. The outdoor parking has 140 places, and the covered one can accommodate 50 more cars. You can also take advantage of the car wash.

When we discuss office and commercial properties, however, we shouldn't forget small business properties up to 150 sq.m in size. According to Atanas Atanasov, manager of the Oborishte office of the Imoteka real estate agency, the segment follows its own trends and logic. In shops the demand for commercial spaces for pharmacies, fashion, cafes in central Sofia, Lozenets and the big neighbourhoods is significant. "That is why when merchants find a proper space on a good price, they tend to stay for long," Atanas Atanasov says. "But some of the landlords tend to make a crucial mistake: when they see that the business of their tenant is going well, they increase the rent. Often, the tenant cannot meet the new rent, and leaves." In offices, the most common case is connected with parking spaces: they are a necessity for clients, and landlords cannot often provide them," comments the Imoteka expert. The rates of small office properties are in the range of 5 and 7 euro/sq.m, but shops are more expensive: a commercial area of 20-40 sq.m at a good location is about 800-1,000 euro per month. "As a whole, the market of small business properties is active. The interest is significant and with an increase in the supply the potential of the segment will develop further," sums up Atanas Atanasov.


    Commenting on www.vagabond.bg

    Vagabond Media Ltd requires you to submit a valid email to comment on www.vagabond.bg to secure that you are not a bot or a spammer. Learn more on how the company manages your personal information on our Privacy Policy. By filling the comment form you declare that you will not use www.vagabond.bg for the purpose of violating the laws of the Republic of Bulgaria. When commenting on www.vagabond.bg please observe some simple rules. You must avoid sexually explicit language and racist, vulgar, religiously intolerant or obscene comments aiming to insult Vagabond Media Ltd, other companies, countries, nationalities, confessions or authors of postings and/or other comments. Do not post spam. Write in English. Unsolicited commercial messages, obscene postings and personal attacks will be removed without notice. The comments will be moderated and may take some time to appear on www.vagabond.bg.

Add new comment

The content of this field is kept private and will not be shown publicly.

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.

Discover More

To live, work, relax and have fun in an interior that meets the highest requirements of the 2020s has now become a must for every urban resident confident in themselves.

Cheap loans, the economic recovery after the Covid-19 crisis, the desire of more people for a bigger home or a safe investment dramatically increased the prices of urban and countryside properties in the past two years.
Urban residents have craved nature's purity and living in close contact with it since urbanisation and industrialisation became a global phenomenon, as early as the times of philosopher Henry David Thoreau who self-isolated in a cabin far from the city nois
One of the funny national psychological traits that Bulgarians often joke about among themselves is the unshakeable confidence that they know everything. Many people believe to be more informed than the experts and think they don’t even need advice.
With next year arriving in mere weeks, people who are interested in what their homes and the spaces they inhabit look like, or who are planning a renovation or moving to a new home, office, or business space, are more actively invested in the matter of what
In the past year, for obvious reasons, we pay more attention to the spaces we inhabit, to how healthy they are and how they make us feel in them.
Unexpected circumstances not only turn our lives inside out, but also make us see them with new eyes. In 2020, the Covid-19 pandemic forced us to stay at home for longer than usual, to move the office in the kitchen and the classroom in the living room.
Where to invest is a question that in the current months took a new shape. The situation looks unstable and the behaviour of international markets rarely can be described as inspiring optimism about the future.
In days when it seems that the world has stopped stopped in its tracks, we begin to pay attention to details which until recently we found of little significance.
Blue. Dark, intensive, on the verge of black. PANTONE 273 C, to be precise. I watch it and I wonder – will I ever be bold enough to paint my bedroom this colour, just like the author of a photo I saw on Pinterest.
In the past few years Bulgaria experiences a boom in construction of residential, administrative, sport, industrial, shopping and other buildings.
Architecture is one of the most exciting and important creations of human ingenuity. It is simultaneously a technical discipline and a form of art.