The average occupancy rate in Globalworth buildings thus rose to 89.7% from 83.1% in December 2016, with the average duration of the lease being 6.3 years.
" Take-up of available space in the two class "A" offices delivered in 2016 has been strong, with occupancy in our flagship Globalworth Tower and the smaller Gara Herastrau office property increasing as of 30 May 2017 to 96.3% and 75.4% respectively (from 83.2% and 68.9% as of 31 December 2016). It should be noted that taking into account the options available to the tenants in the Gara Herastrau office, occupancy in this property would rise to over 95%.
In 2017, we have made further progress in the take-up of available space in the remainder of our properties and have improved our occupancy rates in Globalworth Plaza by 12.9% (to 42.6% as of 30 May 2017) and in City Offices by 12.7% (to 34.5% as of 30 May 2017)", said Globalworth representatives, in a material sent to shareholders.
The company says it is in various stages of negotiations to offer for rent additional office space with a total area of 11,500 sqm in Globalworth Plaza and City Offices, which would increase the occupancy rate of these buildings to 78,1 % And 41.9% respectively. Concluding negotiated contracts would increase Globakworth's portfolio to 92.2%.
Globalworth ended the year 2016 with assets of EUR 977.5 million, up 5%, and revenues of EUR 68.2 million, with more than EUR 23 million higher than those recorded in 2015. The company invested last year almost € 43 million in the 14 properties in the office area he manages in Romania, the total amount of local investments amounting to about 860 million euros. (Source: profit.ro)
