IMPROVED START TO THE YEAR
Despite the general weak economic conditions the Essen office market started way better into the new year than in the previous one, and can therefore detach itself somewhat from the nationwide trend. With a take-up of 19,000 m², the long-term average was missed by about 21%, but the very weak value of the previous year was exceeded by almost 73%. In comparison of the start of 2022 impressively shows that letting activity has accelerated significantly, especially in the segment of space beyond 1,000 m². A handful of contracts has caused take-up in the size segment between 1,000 m² and 2,000 m² up to 6,800 m²; a figure that is twice as high as the 10-year average. It is also noteworthy that, unlike in the previous year, a deal with more than 5,000 m² of lettable space was included in the result: RWE will move into an area of around 5,600 m² in the Nordviertel.