HOME      NEWS           AGENDA           LIBRARY           NETWORK           PROJECTS           NEWSLETTER           ABOUT US     

Office stock decreasing - citydev

The Office Observatory (37th edition) published by citydev.brussels and its internal partner perspective.brussels, shows that total office stock in Brussels decreased in 2016 for the third consecutive year, and is now 231,00 m≤, or 2.5%, lower than it was three years ago.

The Observatory, released on the eve of Realty, takes a close look at the Midi district, where it finds that despite this decrease, vacancy has actually increased, from 6.8% to 8.4%. However, this has to be put within context, because despite all the plans for this district (mostly mixed use projects) it only represents 4% of total Brussels office stock. Just over a third of this is public (administrations), and virtually all of this stock is occupied by public federal services, social security, employment and health in particular.

The next largest occupier is the SNCB, with just under 150,000 m≤ of space occupied. Other rail-related occupiers add a further 17,000 m≤.

Where the future of the district is concerned, there are a number of projects (Atenorís Victor is the most well-known) which will provide offices, housing, public areas and shopping. In an interview in this yearís Belgium Real Estate Showcase magazine, Brussels Bouwmeester Kristiaan Borret says that the districtís development is largely being slowed down by internal problems within the SNCB concerning the redevelopment of the station itself.

Moving on to the wider picture in Brussels, overall vacancy is 7.9%, but in the CBD it has decreased from 6.5% to 6.3%.

Looking at stock once again, this time in the Louise district, the Observatory finds that this zone is particularly popular for converting obsolete office buildings to residential use, and the office stock has thus decreased noticeably (- 4.2%). There is now less than one million square metres in this, the fourth largest office district of the capital.

Finally, the Observatory believes that the arrival of some new projects will probably put a halt to the decreasing vacancy, and even increase it, especially as new projects are taken up at the expense of older ones, which are vacated.


(Image: citydev)
(Image: citydev)







| 19/05/2017

share:    facebook  twitter 

News in short
Horizontal City goes on display at Bozar | 19/6
Prestige residential development on Avenue Louise | 14/6
Xavier Denis joins AG Real Estate | 13/6
Award for Tivoli | 11/6
Lunch with a fascinating architect | 5/6
Besix RED turns 30 | 1/6
Xavier Denis leaves Cofinimmo | 30/5
Atenor sells City Dox senior home | 29/5
Retirement homes market booming | 24/5
Pulse brings new life to Molenbeek | 22/5
Realty - out with the old... | 18/5
New look Realty smaller but attractive | 17/5
New SME park and retailing at Wavre South | 15/5
Docks Bruxsel changes hands | 14/5
Triomphe - turning workspace on its head | 7/5
Third edition of Exemplary Buildings | 4/5
Brussels faring well at European level | 2/5
Housing - the big picture | 25/4
Retail activity quarter one | 23/4
Club Med confirms co-working surge | 18/4
Larger companies targeted by citydev | 16/4
Flexible workspaces - a key corporate trend | 12/4
Hotel sector well on the way back up | 10/4
AXA buys Passport | 9/4
Botanic Tower changes hands | 5/4
Commission launches mega-project | 4/4
Realty heading for the seaside | 3/4
Office space evolving - CBRE | 26/3
Belfius Smart Belgium Awards: context and winners | 22/3
Antwerp looks to the future | 20/3
Manufacturing must be in the mix - citydev | 19/3
MediaPark in the spotlight at Mipim | 16/3
Mipim Awards for Antwerp and Brussels | 16/3
Charleroi in major regeneration | 14/3
Atenor emphasises 'political will and means' | 13/3
Forward-looking Mipim opens | 13/3
First quarter low on take-up, high on investment | 12/3
'The One' kicks off P.U.L. with a major letting | 9/3
SECO - focus on quality from new CEO | 8/3
Major residential conversion on Bld. de la Woluwe | 7/3


back