Parking places
in office buildings parking places are located mostly on underground levels. A smaller number of office projects feature above-ground multi-level car parks. Projects located further from the city centres offer tenants also surface parking spaces. Additionally, the landlord may provide some parking spaces for guests, taxi cabs or couriers.
Parking ratio
a number of parking spaces per 100 sq.m of leasable area. It is a fixed ratio for an entire building, which allows for determining the availability of parking spaces in a given project.
Payback period
refers to the period of time required for the return on an investment to "repay" the sum of the original investment.
Plot ratio
a ratio of building area to the site coverage.
Power generator
a device generating power for a specific building in the case of a power failure. Most often, generators are used only to maintain the power supply in the building after shutting off of equipment located within the premises of the tenant. Due to their high costs, generators are less often used as reserve power supply sources for particular or groups of tenants. Generators are most often located on the underground levels or within the site area close to the building. Generators are provided mainly for class A buildings.
Power supply and telecommunication cabling
a network of power supply and phone cables within the leasable area, the cost of which is in most cases borne by the landlord.
Pre-emption right
In certain situations, the anchor tenant in a building wants to be informed of the planned sale of the building and have a right to acquire the property in preference to any other person.
Pre-let
is an agreement between a potential tenant and a developer to lease a building whose construction has not yet started. Banks require developer to secure a certain level of pre-let before providing finance for a particular office development.
PropCo-OpCo
A holding-based company structure, resulting from its division into two separate companies, involving the transfer by the operating company (Opco) of its property assets and all structures associated with real estate management, to a newly incorporated property holding company (Propco). After the division, the operating company leases office/commercial/services/warehouse space from the other company on the basis of long-term agreements for a definite time. Thanks to this procedure, the value of the enterprise as such increases. Additionally, this structure allows for financing of development of the company on the basis of assets and revenues of the company dealing with real estate management and on the basis of the balance sheet of the operating company.
Property value
the value estimated by a certified property valuer.
Raised floors
a floor mounted on a special structure to provide special space, in which structural, power supply and telecommunication cabling is distributed. In exceptional cases, space under the floor is used to distribute air from the air-conditioning system. The height of the raised floor depends on the number of installation systems provided and it is from 8 to 20 cm. Due to its specific characteristics, in special rooms, such as server rooms, raised floors have much greater height, which may reach 50 cm.
Real estate agent
The role of the agent is to connect parties to such transactions as purchase, sale, exchange, lease or rental of real estate. On the market of commercial real estate property, the agent usually represents only one of the parties to the transaction, from which it collects remuneration. The duties of the agent include gathering of information on the real estate market, presentation of offers which meet the client?s expectations, presentation of financial analyses of transactions based on the offers received, negotiations and review of commercial aspects of agreements. In large transactions, the agent is supported by a technical specialist in relation to eg. space arrangement.
Retail space
space designated for retail and services activity. In office buildings it is usually located on ground floors. In schemes situated on the streets with high pedestrian flow retail space is also located on underground levels or on higher above-ground floors.
Right to expansion
the right of the tenant, based on the appropriate provisions of the lease agreement, to lease additional space in the same building/ complex according to the same conditions as specified in the lease agreement. Most often, this right is granted for a period shorter than the lease term. A certain limitation to this right is the provision that if any other tenant wants to sign an agreement subject to the expansion right within the period specified, the present tenant is obliged to decide within a specified timeframe whether they will take advantage of the right to expansion or not.
ROE
Return on Equity measures how much a company earns within a specific period in relation to the amount invested. The higher the ROE number the more profit is earned for the owners of the company.
Sale-and-leaseback
it is a transaction wherein the owner of a property sells that property or a part of it and then leases it back from the buyer. The purpose of the leaseback is to free up the original owner's capital while allowing the owner to retain possession and use of the property.
Server room
a special room to hold devices for operation of the computer network within the lease space. The server room is provided with additional cooling systems.
Service area
the area of premises on separate floors of the building with technical installations of the building, ensuring its proper functioning. Usually, service area is not included in the common space area of the building.
Service charges
a lump-sum fee borne by each tenant in proportion to the office space taken, paid to cover all costs, borne by a landlord in connection with maintenance and operation of the building including common areas. The service charge settlement is made at the end of the year with the related surcharges or reimbursement.
Setback
in a local development plans there are two types of such lines: minimum setback is the distance from the curb or other established line within which no buildings may be erected and fixed building line - designated line on which a building front line must be erected.
Structural cabling
in other words, computer cabling and light pipes. In office buildings, a landlord provides a tenant with cable bunches reaching the leasable area through shafts. In most cases, distribution of cables throughout the leasablea area is not included in developer standards and their installation is subject to negotiations between the tenant and the landlord.
Supply (office space)
the stock of modern office space located in office buildings or mixed-use facilities (eg. Office and retail) , determined as class B, B+, A or A+ situated on a particular area (city, district, zone). New office supply refers to the space in office buildings delivered to the market in a given period and on a given area.
Suspended ceilings
a ceiling mounted on an aluminium structure, providing special space for distribution e.g. of the ventilation and air-conditioning system or the sprinkler system equipment. Lighting and smoke detectors, DSO (sound alarm system) and sprinklers are also mounted in the suspended ceiling space. Sometimes, also structural cabling is located in this space. The height of the suspended ceiling depends on the installation systems mounted and distances between the shafts and the last component of the system and it ranges between 30cm and 50 cm.
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