ONLY MARKET WITH POSITIVE TAKE-UP DEVELOPMENT
In the current year, Essen occupies a special position among German office markets. With a take-up of 88,000 m², the Ruhr metropolis is the only location with a positive development. The previous year's figure was increased by 1% despite the economic headwind and the ten-year average was exceeded by 4%. Partly responsible for this development is a number of major lettings, which are not a regular occurrence, particularly in B locations, and frequently make the difference between weaker and strong results. The most significant deal of the current year is a letting by the city of Essen for around 16,000 m² in the Südviertel district. Other large deals that have contributed to the strong results include a rental agreement signed by E.ON for 9,900 sqm in Weststadt and an owner-occupier deal by FOM for 8,200 sqm in centre fringe. Approximately 47% of take-up to date has thus been accounted by lettings above the 5,000 m² mark. This is by far the highest figure of all locations, which is also around ten percentage points above the long-term average.