Take-up on the Frankfurt office market was disappointing in the second quarter. Compared to the first quarter (87,700 sq m) it declined by around 12% to 77,100 sq m. In total 164,800 sq m office space was traded in the first half, whereas in the preceding year take-up after six months had already reached 199,500 sq m.
The reason for the modest result was the lack of large deals. Just one single deal exceeded the 5,000 sq m threshold. This was the pre-let by Deutsche Bank of 32,000 sq m of a new development in the Banking quarter in Q1. The largest deal in the second quarter (FOM Hochschule in City-West) was just under 5,000 sq m and was also the second-largest deal for the past six months.
Source : DTZ (Groupe UGL)