The Race for The Best Office Space: Fit Out Costs Across Europe Rise 9%

Three years on from the COVID-19 pandemic, delivering office fit outs that reflect current working strategies has never been higher up the agenda. Corporates are taking huge strides in advancing workplace strategies and the importance now placed on sustainability and DE&I criteria cannot be understated as more and more firms pivot towards accountable goals in this area. Together, this drives demand for best-in-class space of which there is a considerable lack of supply and sizable cost and logistical considerations,

said Nic Wilkinson, Chair of Project & Development Services EMEA at Cushman & Wakefield.

The short to medium term perspective for the CEE region is interesting due to the aggressive rate of new development over the last two decades. This was required to cater for new demand and as part of the overall redevelopment of the region’s capital and secondary cities. However, this trend is likely to change in the face of legislative requirements on sustainability and global targets around carbon emissions reduction. Tenants are now likely to take less space, but design and build it in a sustainable and responsible way to create a destination and feel-good place for employees. In CEE, this will likely mean a continuation of ‘new’ fit outs as part of new, albeit reduced, supply, but also within existing stock as buildings are repurposed and repositioned

said Andrew Frizell, Head of Project Management CEE at Cushman & Wakefield.