The Cologne office market began the year well, with first-quarter take-up of 62,000 m². That not only exceeded the good prior-year result by 9 % but was also some 13 % higher than the ten-year average. The fine performance was fuelled above all by a City of Cologne lease for premises of almost 13,000 m² in Deutz. The lively scale of market activity in the smallish size segment of up to 1,000 m² that had already been evident last year basically continued in the opening months of this year, but the contribution to total turnover made by such contracts was back to a more normal proportion of 37 %, as against 61 % in the same period in 2015. Take-up was spread relatively evenly across different office market precincts, with the City Centre (25,800 m²) and Centre Fringe zones (25,300 m²) finishing neck-and-neck. That also indicates a broad and stable basis of demand.
Source : BNP Paribas Real Estate