Completions | Rentals
Production of new space fails to meet expectations
The production of new space will nearly double over the previous year to a total of 126,000 sqm in 2022. However, this increase will still be unable to offset the extremely low volume of completions during the past three years. It also explains the decline in the vacancy rate to a record low of 4.1 %. An added factor is the low volume of new space in these completions, which reflects the 82 % attributable to refurbishments (e.g. the
“Quartier Lassalle“ with approx. 78,000 sqm). Since nearly 90 % of the office space scheduled for completion in 2022 has already been pre- let, tenants searching for larger facilities will be unable to find their perfect property over the short-term. The next top property completions at ideal locations – for example, the VIO Plaza, Urban Garden and Francis – are not expected before 2023/2024.
Take-up by regions*
• 3 %
Completions 2022/2023
6 %
7 %
22 %
Property
Size Address
Quartier Lassalle 2* ** Quartier Lassalle 1* **
54,000 sqm 2; Lassallestrasse 5 24,000 sqm 2; Lassallestrasse 1
12 %
Vio Plaza
22,600 sqm 12; Schönbrunner Strasse 230 15,000 sqm 10; Wienerbergstrasse 3-5 14,800 sqm 21; Siemensstrasse 87-89
19 %
myhive am Wienerberg, Urban Garden*
12 %
Twenty One/Innovation Hub Das Lebendige Haus * Vienna Twenty Two (BT 1)
19 %
9,000 sqm 1; Postgasse 8-10
8,000 sqm 22; Dr.-Adolf-Schärf-Platz 1 6,000 sqm 9; Peregringasse 2-4 4,000 sqm 15; Felberstrasse 80 3,800 sqm 4; Schwarzenbergplatz 3,500 sqm 19; Muthgasse 109A 2,500 sqm 1; Schreyvogelgasse 2
Doppio Due*
Inner City | Surroundings Southern Region | Wienerberg Lassallestrasse | Messe | Prater Vienna Donau City | Surroundings Eastern Region | Erdberg Other
F80*
Lukoil- Headquarter* **
Muthgasse 109A
Schreyvogelgasse 2* **
Western Region Northern Region
* Refurbishment
Source: EHL Market Research | Q3 2022
** Fully let resp. owner-occupied
Take-up by sectors*
Rentals 2022 (selected examples)
• 2 %
5 % •
Tenant
Size Addresse
11 %
23 %
ISS Facility Services GmbH NexCo Beteiligungs GmbH
6,200 sqm 2; Quartier Lassalle 1 5,900 sqm 23; Liesinger Flur-Gasse 2c
13 %
ATOS Österreich
5,200 sqm 22; IZD-Tower 4,400 sqm 9; Doppio Due 3,300 sqm 22; IZD-Tower
16 %
Law office
14 %
Austria Power Grid
16 %
DLA Piper Weiss-Tessbach
3,300 sqm 1; Haus am Schottentor
IWG Gruppe
3,300 sqm 9; Francis
Pharma and health Public sector tenants
2,400 sqm 3; Erdberger Lände 26 2,200 sqm 2; Lassallestrasse 9b
* Take-up > 1,000 sqm included Source: EHL Market Research | Q2 2022 Pharma and health Trade and services Educational and trainings institutions Public sector Serviced office / co-working Construction, Real Estate Law firms, consultants, tax advisors IT | high-tech
MSC Austria
2,200 sqm 12; Inno Center
Johnson Controls
2,100 sqm 21; Brunnerstrasse 81a 1,900 sqm 2; Leopold Moses Gasse 4
Public sector tenants
Nuance Communications Austria GmbH
1,800 sqm 12; Euro Plaza 1
Source: EHL Market Research | Q3 2022
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