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Press Release: CEE leading PropTech startup hub is launching sublease alternative to rising 200,000 sqm demands

COVID-19 brings uncertainty to many tenants, and with current social distancing measures in place as well as a majority of companies transitioning to working from home arrangements, the requirements of an office space have been severely impacted.

Central and Eastern European countries are reporting growing volumes of office space to sublease. The forecasted to the end of this year is 200,000 sqm of sublease spaces. Some companies have seen a substantial fall in turnover after months of lockdown and have to cut costs. They are thinking about downsizing their office space, but it is quite complicated as office leases are usually contracts for a long period, so earlier termination generates additional costs. Other organisations have, on the other hand, grown in recent months and need more office space – quite unexpectedly. All such companies can now help one another and agree to honest and fair conditions of an office sublease.

What is Sublease?

Subleasing refers to an agreement made between a tenant of a property, to a third party for a portion of the tenant’s lease contract. Ultimately, the tenant remains responsible for all their obligations in the lease agreement but becomes a ‘head tenant’ for the subtenant, who does not directly deal with the landlord.

The market is moving, there are increasing subleasing opportunities with class office types available with no long-term commitments required, and it is a win/win for both subleaser and tenants but where to find them?

Birouinfo.ro the leading commercial platform for office & warehouse in Romania & CEE provides a new marketplace for subleaser together with long term lease, flat offices or co-working other offers addressing the market needs.

“The biggest question right now is whether the need for office space is going to decline because of more companies having flexile/work-from-home arrangements or if it is going to increase to accommodate social distancing guidelines’’ says Vincent Vallois co-founder of Online Real Assets.

About Online Real Assets

Online Real Assets is the leading PropTech hub in CEE. It provides bespoke online solutions and best user experiences to increase brand visibility, support all communication channels and ultimately, streamline the leasing process.

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