Completions | Lettings
Large lettings invigorate the market
exceeding 10,000 sqm, and also that rental rates have increased slightly. Strong demand and limited completions of new space have had a positive effect on the vacancy rate which is expected to fall further to 4.7 % by the end of the year.
In the course of 2019 the Vienna office market has picked up dramatically. Take-up of 162,000 sqm in the first three quarters provided the basis for a strong intermediate result, which was almost as strong as last year’s figure of 167,000 sqm. In total, lettings in 2019 will presumably reach 220,000 sqm. It is notable that once again there have been some large lettings
Completions 2019 |2020
Take-up by regions*
1 % •
Objekt
Size
Location
Inno Plaza
15,000 sqm 1120, Lehrbachgasse 18 11,000 sqm 1230, Lemböckgasse 57-59 7,700 sqm 1220, Janis-Joplin-Promenade 26 7,100 sqm 1220, Christine-Touaillon-Str. 11
15 %
Silo Plus
29 %
HoHo Wien
Technologiezentrum Seestadt, BT 2
18 %
Mischa
3,900 sqm 1220, Sonnenallee 22
QBC 1+2
36,000 sqm 1100,WiednerGürtel 5, AmBelvedere 10
19 %
Office Park 4
26,000 sqm 1300, Towerstraße
18 %
* Refurbishment **Owner-occupied Source: EHL Market Research | Q3 2019 The table only includes those properties for which construction has already begun. Numerous pro- jects for which construction will only commence when pre-let to a suitable degree are not included. 24,500 sqm 1010, Schottengasse 6-8 The Brick - Biotope Offices am Wienerberg 19,000 sqm 1100, Triester Straße 89-91 myhive Wienerbergstraße 7-9 * 10,000 sqm 1100, Wienerbergstraße 7-9 Rathausstraße 1 ** 9,000 sqm 1010, Rathausstraße 1 myhive Ungargasse* 7,000 sqm 1030, Ungargasse 37 Prater Glacis 4,300 sqm 1020, Perspektivstraße 4 Operngasse 6 * 2,000 sqm 1010, Operngasse 6 Haus am Schottentor *
Hauptbahnhof | Quartier Belvedere Inner city and surroundings Lassallestraße | Messe | Prater Souther Region | Wienerberg
Eastern Region | Erdberg Vienna DC | Surroundings
Take-up by sectors*
• 2 %
3 % •
4 % •
Selected Lettings 2019
5 %
31 %
Tenant
Size
Location
15 %
Erste Group AMS & MA 40
17,000 sqm 1100, Bel & Main 13,100 sqm 1120, Inno-Plaza
Wiener Wohnen XING E-Recruiting
6,600 sqm 1030, Erdbergstraße 200 5,600 sqm 1010, Haus am Schottentor 5,100 sqm 1020, Obere Donaustraße 33
15 %
25 %
itworks Personalservice
Vienna University of Economics
4,300 sqm 1020, Prater Glacis 4,000 sqm 1100, QBC 1+2
Public sector Banks and insurance companies IT | High-Tech Law firms, consultants, tax advisors Other Educational and training institutions
Grant Thornton Austria
Ministry of Education, Science & Research
3,900 sqm 1090, Wasagasse 2 3,800 sqm 1030, Erdbergstraße 200 3,000 sqm 1020, Galaxy Tower 2,800 sqm 1020, Austria Campus 2,650 sqm 1020, Austria Campus 2,500 sqm 1100, The Icon Vienna
Fonds Soziales Wien World Bank Group
Dimension Data Porsche Holding Western Union
Life Sciences and Health Construction, Real Estate
Source: EHL Market Research | Q3 2019
*Lettings of more than 1,000 sqm Source: EHL Market Research | Q3 2019
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