Amsterdam,
17
August
2015
|
09:49
Europe/Amsterdam

Growth in office take-up continues

Thanks to a strong second quarter the total office take-up volume in the first half of 2015 resulted in approximately 483,000 sq m, a 9.7% increase compared to H1 2014. According to CBRE figures, Amsterdam remains responsible for the largest demand for office space with almost a quarter of the total take-up. Rotterdam showed the largest increase in take-up, with Alexander a noticeable outlier. The national police leased about 16,000 sq m here. In the Rotterdam central business district, the growth in demand was also strong according to CBRE's newest Office MarketView.

Marc van Tilburg, Director Research and Consulting
An improving economy and positive outlooks mean that companies are daring to look ahead again. Whereas previously, take-ups often consisted of consolidations, we are now seeing real examples of intrinsic growth. Because of this - and due to the increasing demand for modern, high-end office space - the number of new construction developments, both pre-let and speculative, is again on the rise.
Marc van Tilburg, Director Research and Consulting

A striking development was the growth in take-up seen by the TMT (Technology, Media and Telecommunications) and business service sectors. They accounted for 20% and 19% of the total take-up respectively. CBRE will soon perform an extensive analysis of the TMT sector describing this and other interesting developments within the sector.

Compared to last year, activity on the investment market in the first half of 2015 remained modest. The transaction volume fell slightly to €914 million. The decrease was attributable to a lack of prime product and large-scale transactions. This year, no office building worth more than €100 million has yet been sold.

For the remainder of the year, CBRE expects a further rise in demand for office space and an upturn in the investment market. Prime single assets will remain scarce, but the ample supply of both core and value-added portfolios will stimulate activity on the investment market. Although a product type of this scope generally attracts much foreign interest, more and more Dutch parties are moving to the buyers side of the market.

 

About CBRE

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.