Office Market Profile
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Office Market Profile Hamburg | 1st quarter 2020 Published in April 2020 Hamburg Development of Main Indicators Absence of major deals on the letting market Around 98,000 sqm of space was let or secured by owner- occupiers in the Hamburg off ice letting market in the fi rst quarter, 30% and 20% below the fi ve- and ten-year averag- es, respectively. A higher take-up result was not possible due to the absence of major contracts: the two largest contracts were each concluded for units with less than 6,000 sqm. The City Centre and Port Fringe submarkets recorded the highest take-up, accounting for over 40% of the total re- however, more subleased space is expected to come onto sult. In terms of industrial sectors, business-related service the market in the near future as a result of the current coro- providers (19,000 sqm) assumed fi rst place in the rankings navirus crisis. Coupled with a weakening in demand, this as usual, followed by three sectors (construction and real will lead to a narrowing of the gap between supply and estate, education, health and social services, and manu- demand in tenants’ favour. Just 15% of the around 190,000 facturing), all of which accounted for around 10,000 sqm of sqm of off ice space to be completed in 2020 is still available take-up. Flexible off ice space providers rented around to the market and even less space will be completed next 7,000 sqm in three locations, including IWG at Jungfern- year, but an increase in the supply pipeline is expected in stieg for the Signature brand. The vacancy rate fell to 2.5% 2022. The prime and average rents remained stable at in the fi rst quarter, refl ecting the current supply shortage; €29.00/sqm/month and €17.74/sqm/month, respectively. Hamburg: Off ice Space Market Areas with Rental Bands (€/sqm/month) Hamburg: Office Space Market Areas with Rental Bands (€/sqm/month) JLL Research 2020/Q1 Hummelsbüttel Volksdorf Wellingsbüttel Sasel A 23 Hamburg Puetjen Schnelsen Fuhlsbüttel Niendorf Airport / Ohlsdorf Halstenbek Groß Borstel € 9.00-13.50 Bramfeld Farmsen-Berne Eidelstedt Groß Borstel Alsterdorf Steilshoop Hamburg North-East Rahlstedt Schenefeld City Nord € 9.00-12.50 € 9.50-15.00 Barmbek / Bramfeld Lurup Lokstedt Winterhude / Uhlenhorst Winterhude € 10.00-15.50 Eppendorf Iserbrook Stellingen € 10.00-14.50 Barmbek-Nord Hamburg-West € 9.00-12.50 Tonndorf Hoheluft-Ost Eppendorf / Hamburg Dulsberg Wandsbek Hoheluft-West Harvestehude / Eimsbüttel Barmbek-Süd Wandsbek RoHtahrveerstbehauudem Osdorf Bahrenfeld € 10.00-14.50 € 9.00-14.50 Eimsbüttel € 12.50-22.00 Jenfeld Uhlenhorst Barsbüttel Eilbek Rotherbaum Marienthal A 24 Groß Flottbek Altona-Nord East of Alster / Sternschanze Hohenfelde Altona-Ottensen-Bahrenfeld St. Georg St. Pauli € 12.00-17.50 City Centre € 12.50-21.50 € 12.00-22.50 St. Georg St. Pauli Borgfelde Nienstedten € 14.50-29.00 City Süd (OuteHarm Zmone) Othmarschen Ottensen Neustadt Horn Altona- Hamburg- City Süd € 9.00-12.50 A 7 Billbrook / Altstadt Altstadt (Core Area) Billwerder / Harbour fringe Hammerbrook A 1 E € 9.50-16.00 Billstedt lbe € 13.50-22.50 Billstedt HafenCity € 6.00-12.50 S ü N d order Finkenwerder e Elbe HafenCity r Steinwerder Waltershof E Rothenburgsort Harburg - south of the river Elbe lb e € 16.00-26.00 Bergedorf € 9.00-14.50 Kleiner Billbrook Grasbrook € 9.00-15.00 Veddel Off ice Market Profi le | 1st quarter 2020 Hamburg Contacts Contact Berlin Stephan Leimbach Helge Scheunemann Gerald Dietzold Head of Office Leasing Germany, Head of Research Germany Senior Team Leader Office Leasing Member of the JLL Strategy Board +49 (0) 40 350011 225 +49 (0) 30 203980 144 Germany [email protected] [email protected] +49 (0) 69 2003 1245 [email protected] Contact Düsseldorf Contact Frankfurt Contact Hamburg Martin Becker Markus Kullmann André Hoffmann Senior Team Leader Office Leasing Regional Manager Frankfurt Senior Team Leader Office Leasing +49 (0) 211 13006 600 +49 (0) 69 2003 1062 +49 (0) 40 350011 352 [email protected] [email protected] [email protected] Contact Cologne Contact Munich Contact Stuttgart Andreas Reul Fritz Maier-Hartmann Sebastian Treier Team Leader Office Leasing Senior Team Leader Office Leasing Team Leader Office Leasing +49 (0) 221 2775 45 +49 (0) 89 290088 139 +49 (0) 711 900370 36 [email protected] [email protected] [email protected] jll.de Information regarding JLL and our services jll.de/research All research reports on current market figures and special topics jll.de/immo Commercial real estate properties for sale or to let througout Germany Copyright © JONES LANG LASALLE SE, 2020. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them..