Rome | OFFICE 2018 Q2

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With 85,000 sqm in transactions, the take-up volume during the first half of the year is a record result for the last five years (2014-2018), achieved thanks to a very active second quarter (over 63,000 sqm).
Nevertheless, a single transaction accounted for 20% of the quarterly total, confirming that the dynamic nature of the market is a result of atypical letting transactions. Specifically, it is the transaction by consulting company Ernst&Young, which selected a property within the CBD to be fully refurbished based on its requirements. This is the same strategy that E&Y used in Milan, choosing a pre-let contract in that case as well, taking advantage of the possibility to work with the company that developed and designed the building.
This solution allows the owner of the property to avoid the risk of launching a refurbishment project without knowing whether the market will absorb new product. However, it reduces the amount of new available product for occupiers who need to let space quickly, particularly in the central areas.
Reconstruction of the property owned by the city, formerly the headquarters of the Health Office, was completed in mid-May through project financing. With over 2,000 sqm of exhibition space open to the public, the building envisages only about 1,000 sqm of fully refurbished offices.


COLLIERS  UFFICI ROMA 2018 Q2 UK

Rome | OFFICE 2018 Q2

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