Atterbury Europe in partnership with Iulius Group has developed an exceptional office offering in Romania, including three business centres in the Iulius Town development in Timisoara, and two more in Cluj-Napoca. Sebastian Mahu, head of asset management at Iulius, shares the details.
How has the office portfolio improved the typical offering in Romania? What does the competitive environment look like?
The office portfolio developed and operated in partnership by Atterbury Europe and Iulius Group includes five premium office buildings with a leasable area upwards of 67 000 sqm. There are currently three buildings in operation in the Iulius Town Timișoara mixed-use project, which in just two short years have consolidated into a regional business hub that has a GLA of over 50 000 sqm. The project based in Cluj-Napoca includes two buildings with a GLA over 17 000 sqm.
The office projects under the United Business Center (UBC) national brand were developed as strong business hubs, both in Timișoara and Cluj-Napoca, and this new office infrastructure with its premium amenities and central location appeals to many renowned international companies. These premium buildings are designed, built and operated in line with international sustainability standards, and they are all LEED certified. The project addressed the market demand for office spaces that measure up to those in other major European cities competing in the development of IT, outsourcing or automotive hubs.
A whole community was shaped by the people in the UBC buildings, where they develop apps, technologies and software with impact in major industries across the world. This helped to attract new investors into these regions, to support talent retention and to create thousands of jobs, which all translates into a substantial contribution to the local economy.
Is there a particular design aesthetic that characterises the portfolio, or are each of the business centres quite unique? Tell us more about the tenant experience in each. Were there specific design aspects that were pursued in any of the offices?
All the buildings in the United Business Center network are designed and built in line with the LEED standards and the principles of sustainability and minimal environmental impact. The buildings also benefit from the implementation of sustainable operating policies geared towards increasing the cost-effectiveness of utilities and boosting the comfort and quality of life for the employees. With that in mind, the buildings are designed to provide ample spaces with high levels of natural lighting, fitted with a smart automation system for the electrical systems, and ensuring an optimal volume of fresh air and a constant temperature, among many other features. The front desk areas of UBC office buildings are also designed as spaces for relaxing and socialising, providing friendly, elegant and modern meeting areas.
Elegance is the common denominator for all the buildings, and forms part of every detail, from the architecture to the smallest design elements, such as the custom-made perfume. Each building has its own unique distinguishing feature, which may be the ample leasable area, a spectacular lobby, olive trees planted indoors, floor terraces shaded by mature trees, a sun dial created by a local artist, etc. Beyond the story, what defines the UBC office buildings is the fact that they work for their occupants, who are happy and feel at ease in these buildings.
The UBC office buildings are singular on the Romanian office market because the employees who work here are provided with that work-life balance we all aspire to. These people work in mixed-use projects and therefore have access to everything in terms of after-work facilities that residents in the area benefit from, namely shopping, relaxation and entertainment. They also enjoy the most diverse options for lunch breaks, business lunch offers, all the services for the everyday routine and convenient facilities such as parking spaces, showers and lockers for alternative transportation users, as well as electric vehicle infrastructure. Iulius has also implemented the partner card programme in all its office buildings – this offers employees special discounts up to 30% at dozens of stores and service operators. In brief, the UBC buildings provide all the conditions for a modern lifestyle and help people save time.
You have attracted top premium tenants – give us a breakdown of some of them?
The quality of our projects and the underlying concept of integrating them in mixed-use projects set the UBC developments as landmarks in their respective regions and has attracted international and national companies seeking to grow their presence and to tap into the resources of strong university cities.
The five buildings we operate in Timișoara and Cluj-Napoca accommodate the head offices of 30-plus companies, including Endava, Ness, Capgemini, Microsoft, Intel, Atos, IBM, Veoneer, NTT Data, Visma, ACI Worldwide, Amdaris, Everseen, and many more. We take pride in the fact that the UBC buildings are the place where professionals develop technologies, software and apps that set the whole world in motion.
What has been the feedback from tenants – what is it that they love about these offices?
The office buildings in Iulius Town are not just about technical performance, comfort and modernity, but also about sustainability, quality of life and saving time. The buildings are highly appreciated, especially because they truly embody the concept of wellbeing.
Our partners love the gardens, as UBC are the only office buildings that allow you to move your office or meeting room to a refreshing natural venue, as well as to meet up with your family or friends after hours in the park, at a terrace or at an outdoor event.
Facilities are essential for major companies and are increasingly dictated by the employees. UBC provides access to features that make life easier and help save time via the attractive package of facilities in one place – from a medical hub, kindergarten and school to a multiplex cinema, fitness centre, conference halls and offices of the local public institutions. The loyalty programme with its discounts in the stores and for the services available in the mixed-use projects are yet another advantage, along with the sense of belonging to a creative and connected community. We achieve this with regular marketing and CSR initiatives such as tree-planting or blood-donation campaigns, environmental actions, sports competitions, charitable events and more.
Evidently, the central location and accessibility, as well as their integration in the only urban-regeneration mixed-use projects in Romania, along with the building performance, and the comfort provided for employees all are considerations when companies decide to join the UBC community.
Is one of the developments a stand-out most popular of the portfolio?
All the buildings have 100% occupancy rates and the retention level among our partners, who continue to develop and expand their operations in our projects, further attest to the popularity that all the projects enjoy within the business communities. These buildings also work in synergy with the other facilities in each project, complementing them, rather than as totally separate entities. In this way, they are a business card for the companies who operate there. The UBC projects are popular among employees, who wish to work in these offices and to enjoy all the facilities they provide.
Who is the biggest tenant in each of the office developments?
In Cluj-Napoca, British software company Endava occupies the largest leased premises in the UBC buildings, more than 9 200 sqm.
In Iulius Town, Veoneer is the tenant with the largest leased premises, of 7 450 sqm; it develops automotive safety systems in Timișoara.
You mentioned that occupancy is at 100% at present. How can a potential new tenant find out more about upcoming space and availability?
Indeed, the UBC buildings in both Cluj-Napoca and Iulius Town are 100% leased.
However, the investment plans continue. The fourth office building (UBC 0) with a leasable area of 32 000 sqm is currently under construction in Iulius Town Timișoara. We are not speculative developers, which is why we have already signed partnerships for this building as well. The easiest way to discover our projects is online at www.unitedbusinesscenter.ro.