The South Eastern European office of the US-based real estate advisor CBRE has successfully advised SORAVIA Group GmbH on the sale of the New Mill office building located in Belgrade, Serbia. This is another transaction which confirms that the investment market remains active, and despite the pandemic, Serbia along with the entire region is showing strong performance across all commercial asset classes.
The New Mill office building is a well-known commercial destination thanks to its synergy with the Radisson Hotel. In combination with the attractive design, intimate size and class A technical specification, the New Mill offices have been a home run development since day one achieving nearly 100% occupancy rate on average. With the ever-growing destination given the extension of Belgrade Waterfront across the street; the planned Prokop station next door, as well as other office developments within proximity, New Mill office building will continue to be one of the most attractive office offerings outside of New Belgrade.
CBRE advised SORAVIA Group GmbH, a growth-oriented and family-managed company, in the sales process.
Uroš Grujić, Head of Investment at CBRE South Eastern Europe (SEE), on this occasion said:
“This transaction is another confirmation of investors believing in office sector, despite the ongoing circumstances related to the pandemic. With the market showing signs of strong recovery in terms of demand for modern office space, we expect this real estate segment to remain attractive to investors both in terms of development and income-producing investments. This year will be a record year in terms of commercial real estate investment volumes in Serbia and a proof that the investors are confident in the future of commercial real estate sector across Serbia and the entire South Eastern Europe.
We as CBRE are continuing to promote our region as an attractive investment destination where we see further opportunities arise, both within office segment, but also within other real estate asset classes such as retail, logistics and industrial.”