DTZ to asset manage Europeum in Bratislava

Property consultancy DTZ has announced that it has expanded its asset management portfolio to include the modern multifunctional Europeum Business Centre in Bratislava.

The complex, located in downtown Bratislava near the Presidential Palace and the main shopping avenue, has a capacity of 10,350 m² of administrative space. DTZ was first involved in this project in 2007 when it represented the buyer: German open-end real estate investment fund SEB Immoinvest, which bought the Europeum Business Centre for EUR 37mln.

'The acquisition of the Europeum increases the office space managed by DTZ in Bratislava to 18,660 m² and brings the total administrative space of our team's portfolio up to 35,966 m². This new and fast developing segment is a perfect complement to our pilot projects of logistics parks in western Slovakia and the Czech Republic, along with the significant share of shopping centres we manage totalling nearly 815,000 m2,' said Petra Pávová of DTZ who will be responsible for managing the Europeum.

The seven-storey Europeum was completed in 2004 by developers Mayfield and Immoconsult. The property's office and retail space is now fully leased. Its main tenants include Logica, Oriflame, Ouimonde, Kone SSC, Privatbanka, CSOB, HSBC and the Austrian Chamber of Commerce.

DTZ said that as competition on the commercial real estate market grows, professional management of buildings takes on more significance. High quality asset management increases a property's value for the investor. It comprises a number of activities such as financial and operational administration and leasing out the building.

Separately, Syntrus Achmea Vastgoed named DTZ Zadelhoff, the Dutch branch of DTZ, as best manager of Achmea's office properties in 2007. Syntrus Achmea Vastgoed monitors the commercial, technical, administrative and general organisation of its office managers per quarter and drawn up an annual performance ranking. DTZ Zadelhoff came in second place in the shops and shopping centre segment.

Syntrus Achmea Vastgoed, Asset Management and Pension Management, says is the largest pension funds company in the Netherlands. It has invested capital of EUR 13.2bn, of which EUR 9.8bn is in real estate.