E & G Real Estate office market report Stuttgart 2017-2018

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NEO, Stuttgart Vaihingen; Quelle: W2 Architekten ars, demonstrating that demand is not reliant solely on a small number of contracts but rather has a broad base. Areas becoming vacant are immediately absorbed by the market. An entire office building with some 9 000 m² of space was, for example, let to the State of Baden-Württemberg. Consistent demand in the district has, among other things, resulted in two new development projects. The “Bürocampus Fasanenhof” office complex with a total floor area of 14 000 m² is currently being constructed in two phases. 30 % of space had already been let before building began, completion is scheduled for the end of 2019. A further building is under construction in the direct vicinity; 50 % of its approx. 3 800 m² space has already been let. This project should be completed by the end of 2018. The Fasanenhof district will thus once again have new-build space available from the end of 2018 onwards; low vacancy rates mean that letting of the remaining space should have been completed before the building has been finished. The first construction phase for the extension of the U6 light rail transit line to the exhibition centre and airport, a subject of discussion for some years, is now underway. Current information is that the line should be completed by the beginning of 2020. Vaihingen/Möhringen und STEP Vaihingen/ Möhringen/STEP Changes in Daimler AG and Allianz AG premises, already announced in 2016, are now very apparent, with a higher public awareness of the Vaihingen/ Möhringen industrial park thanks to the extension of the U12 light rail transit line. The completion of various new office projects has given the district, formerly characterized by industry, a new appearance and it is increasingly becoming a modern office location. Further projects which are currently at the planning or construction stage will further consolidate this trend. The changes are most obvious at the corner of Industriestrasse/Wallgraben, were excavation for the Daimler Campus’ new underground car park are taking place. In addition to approx. 75 000 m² floor space, the overall project will create some 4 500 new jobs when it has been completed in 2020/2021. Building 1A of the KNV complex, completed at the end of 2017 and with a total area of 10 800 m², could be let to Daimler AG in the long term. Allianz AG’s parallel project, which will create some 120 000 m² of office space, is currently in the planning phase, however minor delays are expected. Trelleborg AG’s new building and a hotel are scheduled for the first half of 2018. Unfortunately, in this case also no additional new space will be available. Within the scope of the industrial park’s transformation, planning for the widening of Nord-Süd-Strasse have made progress, with the first changes – a second intersection for Breitwiesenstrasse – approved and scheduled for implementation in early 2018. Parallel to this, the local council has approved the funds required to make changes to Nord-Süd-Strasse in its double budget for 2018/2019. The final new building at Stuttgart Engineering Park (STEP), Building 8.3, is currently under construction and should be finished in the first quarter of 2018. This project has also been fully let prior to completion, showing once again how attractive the STEP is to its users as an office location. Completion of this building project will see the last plot available at the STEP fully developed and the office park project successfully ended. The STEP’s success story as the blueprint for an office complex with corresponding infrastructure has carried over into its take-up rates, with demand for modern office space in a professional environment unbroken in 2017. Overall approx. 7 100 m² of office space, including new-build areas, was (re-)let at the park. Despite its limited offering, a total of 52 000 m² of office space was let in the Vaihingen/Möhringen district in 2017. This represents some 14 % above the 10-year average. The significant decline over 2016 was caused by the fact that the previous year’s performance was characterized by exceptional market activity. A total of approx. 40.000 m² is available out of a total of approx. 1.0 million m² of office space in the area, representing a vacancy rate of some 4.0 %. These vacant areas include a certain amount of long-term vacant property and comprise small areas spread across many buildings. The largest contiguous vacant space is 4 000 m² in size, larger spaces are not available in the area in the short term. The next development which will bring space (some 17 700 m²) onto the market is the “Neo” project in Ruppmannstrasse, scheduled for completion in 2019. < 500 m 2 501 - 1,000 m 2 1,001 - 2,000 m 2 2,001 - 5,000 m 2 > 5,001 m 2 % share of space 8 % 11 % 20 % 10 % 51 % m 2 3,990 5,762 10,232 4,874 27,094 Ø rental price Vaihingen: 12.80 €/m 2 , Möhringen: 10.40 €/m 2 Prime rent Vaihingen: 14.20 €/m 2 , Möhringen: 11.50 €/m 2
Stuttgart – Central I 25 Overview of the Stuttgart office market. Take-up 2017 < 10.000 10,000 m² m 2 10.001 < 10,001 bis - 20,000 20.000 m² 2 20.001 < 20,001 bis - 30,000 30.000 m² 2 30.001 < 30,001 bis - 40,000 40.000 m² 2 A 81 Direction Heilbronn above 40.001 40,001 m² Gewerbe-/ industrial/office locations Bürostandorte Stammheim Mühlhausen Zuffenhausen A 81 Direction Singen Münster Weilimdorf Feuerbach Bad Cannstatt Stuttgart West Botnang Stuttgart North Stuttgart City Stuttgart South Stuttgart East Wangen Hedelfingen Untertürkheim Obertürkheim Vaihingen Degerloch Sillenbuch A 8 Direction Karlsruhe A 81 Interchange Stuttgart Möhringen Birkach Plieningen Fasanenhof Leinfelden- Echterdingen Fair Stuttgart A 8 Direction München
Page 1: Stuttgart - innovative and future-o
Page 4 and 5: 4 I Kapitelbeschreibung Lautenschla
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Page 8 and 9: 6 I Foreword Foreword. Stuttgart is
Page 10 and 11: Developments in 2017/2018. Today’
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Page 14 and 15: 12 I Developments in 2017/2018 Mark
Page 16 and 17: 14 I Developments in 2017/2018 Dyna
Page 18 and 19: 16 I Developments in 2017/2018 Vaca
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Page 22 and 23: 22 I Kapitelbeschreibung Stuttgart
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Page 28 and 29: Prospects for 2018. In recent years
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E & G Real Estate office market report Stuttgart 2017-2018

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