BCR, one of the last major banks that did not use the crisis to consolidate operations into a single building, has recently held a tender to select a consultant that will oversee the space selection process. The new space could house private pension fund manager BCR Pensii, which currently operates in a building on the Biharia Street near the Aurel Vlaicu (Baneasa) Airport and other departments.
“Optimization of operational space is a continuous project for the colleagues at Real Estate Management, but we have no specific comment to make for the time being,” say the representatives of BCR, a bank whose management works in the Bucharest Financial Plazza tower on Calea Victoriei.
Besides the tower inherited from the late Bancorex (15,000 to 17,000 square meter lettable area) on Calea Victoriei, which BCR got full ownership of last year, following a property swap with the Bucharest City Hall, the previous owner of the land beneath the building, BCR also operates in America House in Piata Victoriei, as well as in the old building of Generala insurance company in Piata Universitatii.
BCR could rent 4,000 to 5,000 square meters at first, but the project developer has to provide the possibility of space expansion up to 15,000 square meters, ZF has learned from real estate sources.
At a monthly net rent of about EUR12 to EUR13/square meter, a 15,000 square meter contract would amount to more than EUR2 million a year, according to ZF estimates.
Two other important contacts on the Bucharest office space market are those for about 25,000 square meters of space that Deutsche Telekom is looking for to house Romtelecom and Cosmote in, and the about 20,000 square meters Renault is looking for in order to consolidate its operations in the west and north of the city.
The largest deals closed this year include the rental of 15,000 square meters and 14,000 square meters by mobile phone operators Vodafone and Orange, in two buildings under construction in Barbu Vacarescu-Floreasca area. Endava, Ericsson, Allianz and Canada’s Telus signed leases for 3,000 to 5,000 square meters each.
(English version by Loredana Fratila-Cristescu)