A shopping center owner in Bucharest may spend around 11 euros/sqm on maintenance, 2 euros more than a shopping center owner in United Kingdom and nearly double than an owner in Bulgaria, according to a Colliers survey.
“If when the leasing contract is concluded these service-related expenses are estimated at 5-6euros/sqm, after first six months since the opening, these expenses are determined by the actual costs of maintaining the center and in some cases they can reach even 11 euros per sqm in Bucharest, the highest of all countries surveyed”, the study found.
The expense gap is given also by the high costs on utilities.
The shopping center maintenance services expenses in Romania are in the range of 3-5 euros/sqm for local shopping centers and around 4-9euros/sqm for international chains.
In Bulgaria, maintenance-service related expenses stand between 5-6 euros per sqm, in Serbia between 3-9 euros, in Poland 4-7 euros/sqm and 8.5-9 euros in UK.
Service-related expenses include management costs (13-15%), utilities (35-40%), marketing, cleaning and security (15-20%), maintenance service for elevators, escalators and other equipments (30-35%) as well as insurance costs (1-2%).
Article comments "Maintenance costs of a shopping center in Bucharest, higher than in UK"
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