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Colliers International | Global Occupier Guide

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Belgrade

SPS

Space Measurement Standard
SQMT
SQFT
Space Unit of Measure

EUR convert

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Financial Data Currency[1]

Yes

Transfer Taxes

Office Occupier Market Condition

1,1,1,1

Ease of Doing Business – How conducive is the regulatory environment to starting and operating a business. Source: The World Bank, Doing Business – 2018

Labor Cost – Wages for “Knowledge Workers”. Source: Trading Economics.com, OECD Wage Report, Colliers International

Taxes – Favorability of taxation policies to business. Source: The World Bank, Doing Business – 2018

Tenant Favorable – Assessment of the real estate market condition. Source: Colliers International

Quadrant Legend: Green = Favorable Yellow = Neutral Red = Less Favorable

Typical Loss Factor

3-5%

From rentable to useable square meters

Landlord Concessions

Fit-Out Concession

The Landlord typically provides a contribution or concession to fit-out as a part of the lease transaction.

Amount of Fit-Out Concession

€20/sm-€70/sm

Typical range of fit-out contribution.

Rent-Free Period

The Landlord typically provides a contribution or concession in the form of a rent-free period.

Standard Range of Rent-Free Months

0mo.-7mo.

Typical number of rent-free months.

Rent-Free Period Notes:

Depending on the lease duration, client and headline rent.

Payment of Fees/Commissions

The Landlord typically pays the tenant rep broker’s fee.

Lease Provisions

Lease Term

3yrs.-10yrs.

Typical lease term in years.

Operating Expenses & Service Charges Included

Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.

Additional Charges

€2.5/sm-€4.5/sm

Estimated range for all additional charges per Square Meters.

Additional Charges:

Utilities
Service Charges
Stamp Duty
Electric
Rates
HST
Cleaning
Hydro
Registration Fees
Taxes
Insurance
VAT
Other

Service Charge Notes:

The service charges include cooling and heating, and also include the common areas and are divided by tenants on an equal basis (based on the share of the leased area towards the size of building)

Lease Fundamentals: The following apply to both office and industrial leases.

Lease Execution Requirements:

Typical upfront requirements
None for strong credit tenants
Upfront rental payment
Security deposit
Corporate guarantee
Not Applicable

Negotiated Subletting/Assignment

The tenant's right to sublease or assign the space typically is NOT negotiated in the lease agreement.

Statutory Subletting/Assignment

This is NOT a statutory right.

Blend & Extend Strategies

Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.

Statutory Early Termination

This is NOT a statutory termination right.

Negotiated Early Termination

It is NOT typical for tenants to be able to negotiate an early termination right in the lease agreement.

Workplace

Regional Office Space

5sm-10sm

Typical Square Meters per employee (includes office square footage for employees and contractors).

Regional HQ Office Space

8sm-12sm

Typical Square Meters per employee (includes office square footage for employees and contractors).

Belgrade market is behind.

Desk Sharing

Desk-sharing is not a common practice in the market.

Urbanization of the workforce is: Equal to several other considerations driving location decisions

Industrial Occupier Market Condition

1,1,1,1

Ease of Doing Business – How conducive is the regulatory environment to starting and operating a business. Source: The World Bank, Doing Business – 2018

Labor Cost – Wages for “Knowledge Workers”. Source: Trading Economics.com, OECD Wage Report, Colliers International

Taxes – Favorability of taxation policies to business. Source: The World Bank, Doing Business – 2018

Tenant Favorable – Assessment of the real estate market condition. Source: Colliers International

Quadrant Legend: Green = Favorable Yellow = Neutral Red = Less Favorable

Landlord Concessions

Fit-Out Concession

The Landlord typically does not provide a contribution or concession to fit-out as a part of the lease transaction.

Rent-Free Period

The Landlord typically does not provide a rent-free period in addition to the fit-out contribution.

Standard Range of Rent-Free Months

0mo.-1mo.

Typical number of rent-free months.

Rent-Free Notes:

Sometimes a 1-month rent-free period per 5-year contract is provided

Payment of Fees/Commissions

The Landlord typically pays the tenant rep broker’s fee.

Lease Provisions

Lease Term

3yrs.-5yrs.

Typical lease term in years.

Operating Expenses & Service Charges Included

Quoted market rent typically does not include operating expenses (service charges). There are additional charges that apply to leasing space.

Additional Charges

€0.5/sm-€1/sm

Estimated range in total for all additional charges per Square Meters.

Additional Charges:

Utilities
Service Charges
Stamp Duty
Electric
Rates
HST
Cleaning
Hydro
Registration Fees
Taxes
Insurance
VAT
Other

Lease Fundamentals: The following apply to both office and industrial leases.

Lease Execution Requirements:

Typical upfront requirements
None for strong credit tenants
Upfront rental payment
Security deposit
Corporate guarantee
Not Applicable

Negotiated Subletting/Assignment

The tenant's right to sublease or assign the space typically is NOT negotiated in the lease agreement.

Statutory Subletting/Assignment

This is NOT a statutory right.

Blend & Extend Strategies

Typically, a tenant can take advantage of "blend & extend" ("forward renewal", "early renewal", etc.) strategies when the appropriate market conditions exist.

Statutory Early Termination

This is NOT a statutory termination right.

Negotiated Early Termination

It is NOT typical for tenants to be able to negotiate an early termination right in the lease agreement.

Section 1. Fit Cost Data

Section 2. Scope of Work Description

[1]Currency conversion works for estimate purposes only and may not reflect real-time values.

This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2018. All rights reserved.

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