Q2 | July 2021

Research Germany Office Market Profile Cologne: Significant increase in mid-year take-up

There was a take-up of around 146,000 sqm in the Development of Main Indicators Colog­ne office letting market in the first half of 2021, a rise of 50% compared to the first half of 2020. The year- on-year increase was noticeable across most size cate- gories. The main reason for the favourable performance was lettings to the public sector which accounted for a total of 52,000 sqm. Worthy of particular mention are two large-scale transactions from the first quarter, both in the Ehrenfeld/Braunsfeld submarket: a letting of 15,600 sqm to the Cologne central customs office in the FORUM and 11,400 sqm to the Bundesanstalt für Immo- bilienaufgaben (BIMA, Institute for Federal Real Estate) in the OVUM. The volume of vacancies has risen mode- rately over the last 12 months, but the current vacancy rate of 3.1% is still at a very low level. Just 23% of va- term. 42,000 sqm of new office space was completed cant space is of Grade-A fit-out quality. But this type of over the first six months, but this is already 90% let. The space is precisely what many occupiers are looking for. prime rent remained stable at €26.00/sqm/month at As the pandemic experience has meant that the office mid-year. By contrast, the weighted average rent rose is now in stiffer competition with alternative places to by 6% over the last six months to its current highest- work (e.g. WFH), it is likely that companies will increa- ever level of €17.28/sqm/month. singly focus on top-quality space over the medium

Cologne: Office Space Market Areas with Rental Bands (€/sqm/month) Cologne: Office Space Market Areas with Rental Bands (€/sqm/month) JLL Research 2021/Q2 Schwarzbroich Auweiler Hardt Pulheim

Bergisch Gladbach Ossendorf/Nippes Bergisch € 6.50-14.50 Gladbach Other Locations Widdersdorf € 6.00-12.00

Brauweiler Köln Bensberg

Ehrenfeld/Braunsfeld € 7.50-16.50 Peripherie West City Centre Kalk/Mülheim € 7.00-13.00 Deutz/Messe € 7.00-16.50 € 9.50-26.00 Köln € 9.50-23.00 Buschbell

Marsdorf Lindenthal/Sülz € 8.00-15.00 Rath Frechen Forsbach Rhinebank-West € 13.00-26.00 Bayenthal/Marienburg € 9.00-16.50

Gleuel Porz/Gremberghoven Rösrath € 8.50-14.00

Hürth Berrenrath Rambruecken Konraderhoehe € 7.00-15.00

Flughafen © OpenStreetMap&contributors Meschenich Köln/ Wahn Troisdorf Konstantin Kortmann Stephan Leimbach Helge Scheunemann Head of Leasing & Agency Germany Head of Office Leasing Germany Head of Research Germany +49 (0) 69 2003 1390 +49 (0) 69 2003 1245 +49 (0) 40 350011 225 [email protected] [email protected] [email protected]

Gerald Dietzold Miguel Rodriguez Thielen Suat Kurt Senior Team Leader Office Leasing Senior Team Leader Office Leasing Senior Team Leader Office Leasing Berlin Düsseldorf Frankfurt +49 (0) 30 203980 144 +49 (0) 221 2775 44 +49 (0) 69 2003 1347 [email protected] [email protected] [email protected]

André Hoffmann Alexandra Hager Fritz Maier-Hartmann Senior Team Leader Office Leasing Senior Team Leader Office Leasing Senior Team Leader Office Leasing Hamburg Köln München +49 (0) 40 350011 352 +49 (0) 221 2775 16 +49 (0) 89 290088 139 [email protected] [email protected] [email protected]

Sebastian Treier Senior Team Leader Office Leasing Stuttgart +49 (0) 711 900370 36 [email protected]

About JLL, (Global) JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustai- nable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit http://jll.de.

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 jll.de/investment Information and off ers on condominiums in exciting German metropolises

Find the perfect office space for your business

Copyright © JONES LANG LASALLE SE, 2021. 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.