Colonial will open a Utopicus coworking space in each of its office buildings "to adapt to the needs of companies after the pandemic: it is more valuable for our clients to be in a building with a mixed offer, because it gives them more flexibility" , as announced by its CEO, Pere Vinyoles. Thus, the company will include a Utopicus in its corporate building, on Barcelona's Diagonal, which it is remodeling, as well as in its Méndez Álvaro complex, the largest development it has underway in Madrid.
Vinyoles assured that the office model has changed after the covid "since companies have had to adapt to social changes and at the same time that teleworking makes the office contribute to making its employees happier and more productive", in a building attractive and in a good environment. In his opinion, the real estate market has become polarized: “there are quality buildings that offer an experience, and that help maintain and attract talent, on the one hand, and then the others”. In his opinion, this has benefited Colonial ”because the company had already specialized in first class buildings located in urban centers.
Thus, the firm has triggered the contracting of spaces, which has reached 51,600 m2, 60% above pre-covid levels and its buildings have set the maximum rents in the markets where they are, with 940 euros/m2 year in Paris, 37.5 per month in Madrid and 28 in Barcelona. The quality of the buildings and their occupants, top-tier companies, also allows income to be indexed to the CPI. "The contracts provide for rents to be reviewed annually and the quality of the buildings and our occupants means that this can be done without a problem." This same factor allows it to have a very high occupancy rate of 95%, which reaches 99% in its buildings in Paris.
The company presented its quarterly results this afternoon, a period in which it recorded a profit of 28 million, 32% more than in the same period of 2021, with rental income of 82 million euros, 4.1% higher.
The corporate general director of the company, Carmina Ganyet, stressed that the rise in interest rates will not impact the company's results in the coming years because the firm has refinanced its debt, with an average rate of 1.35%, and lengthened its duration, so that 85% of its debt matures after 2025. In addition, all of Colonial's bonds have green certification, which gives the company greater access to capital markets.
The company, explained Vinyoles, will continue with its "opportunistic" investment policy, without prior objectives, and has no plans to sell assets. In addition, it has already tendered the contracts for all the buildings it has under construction, so it will not be affected by the increase in raw material costs.
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