Q2 | July 2021 Research Germany Office Market Profile Cologne Cologne: Significant increase in mid-year take-up There was a take-up of around 146,000 sqm in the Development of Main Indicators Colog­ne­office­letting­market­in­the­first­half­of­2021,­a­ rise­of­50%­compared­to­the­first­half­of­2020.­The­year- on-year­increase­was­noticeable­across­most­size­cate- gories.­The­main­reason­for­the­favourable­performance­ was­lettings­to­the­public­sector­which­accounted­for­a­ total­of­52,000­sqm.­Worthy­of­particular­mention­are­ two­large-scale­transactions­from­the­first­quarter,­both­ in­the­Ehrenfeld/Braunsfeld­submarket:­a­letting­of­ 15,600­sqm­to­the­Cologne­central­customs­office­in­the­ FORUM and 11,400 sqm to the Bundesanstalt für Immo- bilienaufgaben­(BIMA,­Institute­for­Federal­Real­Estate)­ in­the­OVUM.­The­volume­of­vacancies­has­risen­mode- rately­over­the­last­12­months,­but­the­current­vacancy­ rate­of­3.1%­is­still­at­a­very­low­level.­Just­23%­of­va- term.­42,000­sqm­of­new­office­space­was­completed­ cant­space­is­of­Grade-A­fit-out­quality.­But­this­type­of­ over­the­first­six­months,­but­this­is­already­90%­let.­The­ space­is­precisely­what­many­occupiers­are­looking­for.­ prime­rent­remained­stable­at­€26.00/sqm/month­at­ As­the­pandemic­experience­has­meant­that­the­office­ mid-year.­By­contrast,­the­weighted­average­rent­rose­ is­now­in­stiffer­competition­with­alternative­places­to­ by­6%­over­the­last­six­months­to­its­current­highest- work­(e.g.­WFH),­it­is­likely­that­companies­will­increa- ever­level­of­€17.28/sqm/month. singly­focus­on­top-quality­space­over­the­medium­ 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 Rodenkirchen Rambruecken Konraderhoehe € 7.00-15.00 Flughafen © OpenStreetMap&contributors Meschenich Köln/Bonn Wahn Troisdorf Konstantin Kortmann Stephan Leimbach Helge Scheunemann Head­of­Leasing­&­Agency­Germany Head­of­Office­Leasing­Germany Head­of­Research­Germany +49­(0)­69­2003­1390 +49­(0)­69­2003­1245 +49­(0)­40­350011­225 [email protected] [email protected] [email protected] Gerald Dietzold Miguel Rodriguez Thielen Suat Kurt Senior­Team­Leader­Office­Leasing Senior­Team­Leader­Office­Leasing Senior­Team­Leader­Office­Leasing Berlin Düsseldorf Frankfurt +49­(0)­30­203980­144 +49­(0)­221­2775­44 +49­(0)­69­2003­1347 [email protected] [email protected] [email protected] André Hoffmann Alexandra Hager Fritz Maier-Hartmann Senior­Team­Leader­Office­Leasing Senior­Team­Leader­Office­Leasing Senior­Team­Leader­Office­Leasing Hamburg Köln München +49­(0)­40­350011­352 +49­(0)­221­2775­16 +49­(0)­89­290088­139 [email protected] [email protected] [email protected] Sebastian Treier Senior­Team­Leader­Office­Leasing Stuttgart +49­(0)­711­900370­36 [email protected] About JLL, (Global) JLL­(NYSE:­JLL)­is­a­leading­professional­services­firm­that­specializes­in­real­estate­and­investment­management.­JLL­shapes­the­future­ of­real­estate­for­a­better­world­by­using­the­most­advanced­technology­to­create­rewarding­opportunities,­amazing­spaces­and­sustai- nable­real­estate­solutions­for­our­clients,­our­people­and­our­communities.­JLL­is­a­Fortune­500­company­with­annual­revenue­of­$16.6­ billion­in­2020,­operations­in­over­80­countries­and­a­global­workforce­of­more­than­91,000­as­of­March­31,­2021.­JLL­is­the­brand­name,­ and­a­registered­trademark,­of­Jones­Lang­LaSalle­Incorporated.­For­further­information,­visit­http://jll.de.­ jll.de Information­regarding­JLL­and­our­services jll.de/research All­research­reports­on­current­market­figures­and­special­topics jll.de/immo­Commercial­real­estate­properties­for­sale­or­to­let­througout­Germany jll.de/investment Information­and­off­ers­on­condominiums­in­exciting­German­metropolises 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..