This department offers its clients a comprehensive project solution, providing services that encompass interior design, integrated management of new-build and restoration projects, along with consultancy services.
The Building consultancy team is an internationally experienced and multidisciplinary group of engineers and architects. These professionals help clients in the phases of their business, monitoring all the real estate development processes. In Italy the team is made by two groups with different specialization: Building Consultancy and Project Management. The first gives advice on the state of art of a premises, a building or a portfolio of properties, the latter helps you to manage the building process. As technical consultants our professionals ensure a targeted approach aimed at satisfying the specific requirements of each client whatever its need in the acquisition, disposal, letting of properties. CBRE Building Consultancy is a specialist group which provides detailed advice to investors, allowing them to enter into contacts for premises with clarity about the liabilities that flows from ownership of a property.
Our highly qualified and professional Project Management Department represents the technical support tool required by the clients throughout the extensive real estate execution processes involved, that call for the co-ordination of numerous disciplines. The intended aim is to create value and to avoid risk, by co-ordinating and aligning the construction solutions with the financial goals established by the Owner.
With customised management for architectural projects, we oversee the development of every type of construction, and we provide innovative, highly effective, and sustainable solutions for investors, developers, and owners.
Take-up from January to September was 272,600 sq m, the highest result ever recorded in the Milan office market. This could bring a total annual take-up above 300,000 sq m, in line with the positive trend which started in 2015.
In the third quarter vacancy rate dropped to 12%. Especially in the CBD it declined for the first time from Q4 2015 to 7.3%, while it has risen in the semi-central and peripheral areas.
The Centre, historically less dynamic compared to the CBD area, recorded the largest deal for letting space of the quarter: more than 7,000 sq m leased to a financial company at 450 Euro sq m pa.
In Q3 prime rent in the CBD stands at 530 Euro sq m pa, an increase by 8% compared to the same period of last year: this places Milan among the European cities in the rental growth accelerating phase.
Quarterly investment volume in the office sector reached 524 million Euros, doubling the result of the third quarter of last year. Cross border capital accounted for 52% of the volume.
Absorption in the third quarter of 2017 amounted to 58,488 sq m, a strong increase compared to the previous quarter and 42% higher than the same period of last year.
Volume of office spaces leased in the first nine months, just over 130,000 sq m, has increased by 20% over the same period of 2016; this confirms 2017 as one of the best years for the Roman market, with volumes lower than the ones recorded in 2011.
Prime rent increased in the CBD area to 420 Euro sq m pa while it remained stable in the EUR area at 330 Euro sq m pa.
Take-up was driven by a large transaction in the EUR Centre for approximately 22,500 sq m, 38% of the quarterly absorption, which will become the new HQ of a Hi-Tech multinational.
Investment in Q3 was around 128 million Euro confirming the positive trend for the current year.
Almost 1.8 billion Euro were invested in Q1 2016, a decline of 6.7% on the same quarter of the previous year.
Quarterly volume confirms 36% more than the quarterly average for the past four years.
At approximately 1.3 bn Euro, foreign capital is still the major driver of Italian CRE investment volume in Q1 16.
European investors lead the quarterly foreign capital (51%), with German on the top of the list.
The office sector, with 46% of total quarterly volume, is still the investors’ preferred asset class while retail follows whit 32%, thus improving its market share compared to previous quarters; the mixed use properties sector (mainly non-core investments to be re-positioned) fell at 6% .
The beginning of 2016 has been marked by an increased cautiousness among investors compared to the end of 2015 but the interest in the Italian real estate is confirmed sound.