In Q2, one office project, Green Hall 3, was completed on the boundaries of the CBD, which added 2,850 sq m to the total stock.
Currently, there is 261,000 sq m of offices under construction, 85,600 sq m of which is planned to be completed this year.
The vacancy rate has remained broadly the same as for the previous quarter. Yet there is a significant increase in offers to sublease currently occupied office premises because existing tenants want to reduce their liabilities.
The take-up of 26,300 sq m was relatively significant for Vilnius market. Renewal and extension within the Technopolis campus by Western Union constituted the majority of take-up with a 15,000 sq m deal. Another notable transaction was a 7,000 sq m pre-lease by Telia at Lvovo BC.