Citynews: Office Market Cologne 1Q 2008

First Quarter with strong demand

In Q1, the Cologne office market improved on its prior-year performance by almost 79 % to post take-up of 68,000 m2. Demand was particularly buoyant in the city centre, which generated turnover of just under 47,000 m2 (69 % of the total). A major contribution to this good result was made by a large lease for 15,300 m2 of office space concluded by insurance company AXA Service AG. Accordingly, insurances headed the list of the chief sources of demand, with a share of more than 31 % of aggregate take-up. Other services accounted for close to 24 %, followed by consultancies with just under 11 %.

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Source: Atisreal GmbH

Published: 03.04.2008