Factors determine the rental price of an office
Factors determine the office rental price
Are you looking for office space for rent? Then you probably want to know what is the rental price of the office space that you need. Although the market for office rent in Sofia is large, when a person starts looking for an office, he often cannot find the desired office, or in case he finds it, it turns out that it is much more expensive than the budget he has set.
The cost of office rentals can vary considerably within the city and even within a certain area. Therefore, in order to help you better understand the lease prices of offices for rent, below we have prepared a list of the main factors that determine the rental levels for offices in Sofia.
The rental price for an office depends on several main factors:
– location of the office
– type of building in which it is located
– Features of the office itself
– The floor on which it is located (only in some office buildings)
Location of the rental office:
In recent years, several major business districts/clusters have developed in Sofia, which are a preferred location for most companies.
For Class A office buildings, the highest rental levels are for office buildings in downtown Sofia, Tsarigradsko Shosse blvd. and Lozenets in the area next to Paradise Mall. At the last location are some of the newest and most modern class A office buildings in Sofia, built in the last few years. At these locations, the office rental prices are 12 – 16 Euro / sq.m without VAT.
The middle price range includes the offices located in Mladost 4, Todor Alexandrov Blvd., Iztok, Lozenets, outside the Paradise Mall area, as well as the office buildings in the areas around Bulgaria Blvd. Here the rents vary between 8 – 12 Euro / sq.m without VAT, with of course exceptions for the newest class A office buildings, where rents are higher.
There are also class A office buildings, which are located in different and slightly more distant from the center areas, where you can rent an office for less than 8 Euro / sq.m. These are areas such as Druzhba, Sofia Airport, Geo Milev, Student City (Studentski Grad) and others.
The type of building is the other factor that determines the amount of rent
Offices in Class A office buildings are usually rented at the highest price levels specific to the area. However, this higher rental price allows for the use of many additional extras/amenities that the building offers. Such extras are the representative common areas in the building with a 24/7 reception, conference halls, designated places for recreation such as a park environment or large panoramic terraces, restaurants, in some cases a commercial area, fitness, underground and outdoor parking and more.
The rents in class B office buildings are lower, and those in mixed-use buildings or in residential buildings are the lowest and in some places can reach 5-6 Euro / sq.m.
Features of the office itself and the floor on which the office is located
The rental price of some of the rental offices also depends on their specific characteristics. These can be the layout of the office, the presence / absence of a kitchenette, bathroom in the office, bevels, etc. The features of an office affect the rental price mostly for offices located in mixed-use buildings or in residential buildings.
The floor on which the office is located can also affect the office rental price in some cases, including large class A office buildings. In some of them, the rents for the offices located on the higher floors are 1-3 Euro / sq.m higher than those for the offices on the lower floors. Ground floor offices are also generally offered at lower prices.
If you still have doubts about the best choice for you, according to your budget, you can contact us for a free consultation at: 00359 885 908 811; 00359 888 137 222 or e-mail: [email protected]