TAKE-UP ABOVE LONG-TERM AVERAGE
The Essen office market is looking back on a moderate result with a total take-up of 133,000 m² at the end of 2022. In comparison to two weak previous years, the market is on the upswing again, so that the total volume increased by 43% compared to 2021. While momentum was restrained in the first half of the year, the market picked up significantly in the second half. Thus, around 70% or rather the majority of the total take-up was generated in the third (47,000 m²) and fourth (46,000 m²) quarters. With almost 29%, lettings in the size category over 10,000 m² were the driving factor for take-up, remarkably for the first time since 2019. This result is attributable to the conclusion of the Uniklinik Essen (Q3: 16,500 m²) and the latest letting by the police in Rüttenscheid/Bredeney with 21,500 m², which contributed almost half of the quarterly take-up. Furthermore, a large corporation let around 6,100 m² in Weststadt.