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Brussels Office market outlook - Q1 2016

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Take-up fell by 29% year-on-year, primarily due to the absence of largescale deals throughout 2015. Only two deals over 10,000 sq m concluded during the year – KPMG were at the top of the transaction table, pre-leasing 13,000 sq m in the new Passport building in the airport district, scheduled to complete in late 2017.

Historically, the final quarter of the year is usually the strongest, however 2015 witnessed a significant decline predominantly because a handful of large deals, originally scheduled to close in Q4, were delayed until early 2016. Such deals include the Belgium Federal State’s leasing of 30,000 sq m in the Pacheco building and the European Parliament looking to sign 13,000 sq m in the Belmont building.

Source : Knight Frank

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Keywords : Knight Frank