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Office Market Profile

Hamburg | 1st quarter 2020 Published in April 2020 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 Wellingsbüttel A 23 Hamburg Puetjen Fuhlsbüttel Niendorf Airport / Ohlsdorf Halstenbek Groß Borstel € 9.00-13.50 Farmsen-Berne Groß Borstel

Hamburg North-East Schenefeld City Nord € 9.00-12.50 € 9.50-15.00 / Bramfeld / Winterhude € 10.00-15.50 Eppendorf Stellingen € 10.00-14.50 Barmbek-Nord Hamburg-West € 9.00-12.50 Tonndorf -Ost Eppendorf / Hamburg Hoheluft-West / Eimsbüttel Barmbek-Süd Wandsbek RoHtahrveerstbehauudem Osdorf € 10.00-14.50 € 9.00-14.50 Eimsbüttel € 12.50-22.00 Uhlenhorst Barsbüttel Marienthal A 24 Groß Flottbek Altona-Nord East of / Hohenfelde Altona--Bahrenfeld St. Georg St. Pauli € 12.00-17.50 City Centre € 12.50-21.50 € 12.00-22.50 St. Georg St. Pauli € 14.50-29.00 City Süd (OuteHarm Zmone) Ottensen Neustadt Horn Altona- Hamburg- City Süd € 9.00-12.50 A 7 / Altstadt (Core Area) / Harbour fringe A 1 E € 9.50-16.00 lbe € 13.50-22.50 Billstedt € 6.00-12.50 S ü d Norder e HafenCity r E - south of the river Elbe lb e € 16.00-26.00 € 9.00-14.50 Kleiner Billbrook Grasbrook € 9.00-15.00

Off ice Market Profi le | st 1 quarter 2020 Hamburg Contacts Contact Berlin Stephan Leimbach Helge Scheunemann Gerald Dietzold Head of Office Leasing , 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 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 Contact 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]

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