Renault seeks to sublet just over a quarter (27.5%) of its 42,300 sqm offices in Renault Bucharest Connected, a building developed by Globalworth and rented by the French automobile group under a ten-year contract.

Most of the 3,200 employees for whom Renault developed the building have been working from home since last spring.

Renault offers a 6% discount compared to the price it pays to Globalworth, namely it expects to get a rent of EUR 10.55/sqm/month for the 11,663 sqm.

The French group pays an annual rent of EUR 5.7 million for the 42,300 sqm rented from Globalworth, the equivalent of a monthly rent of EUR 11.2/sqm, according to financial reports consulted by Profit.ro.

The operating cost of Renault Bucharest Connected alone is over EUR 1.5 million.

The French automobile producer is part of a growing group of international corporations, including Vodafone, Thales, Orange, Genpact, Molson Coors, Deloitte, Finastra, Visteon and IBM, looking to sublet offices with a total area of about 60,000 sqm, the equivalent of 2% of the modern office market in Bucharest.

(Photo courtesy of the company)

andrei@romania-insider.com