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Luxembourg – Autumn 2012

Professional Real estate

brought to you by

Summary Aire Building at a glance

p.1

Editorial

p.2

Our current offers

p.3-10

Key figures

p.11-12

Glossary

p.13

A p ro j e c t d eve l o p e d by

AV IN AI Q LAB 2 20 LE 14

Our special feature: Focus on AIRE Building

p.14-15

Contact Us REALCORP Luxembourg 22, Avenue Monterey, L-2163 Luxembourg Tel: +352 26 27 29 www.realcorp.lu

Ce r t ifie d by Non-contractual document p.1


Luxembourg – Autumn 2012

Editorial Q3 done? Good! What opportunities lie ahead? While leaders and bureaucrats continue to negotiate

situated offices are BREEAM-certified due to various

and pontificate on the Euro problem, businesspeo-

sustainability features and will provide an inspiring

ple have to keep on keeping on. But, in this time of

workspace that is also highly practical due to its

waiting, we can see that people are doing things differ-

ease of access. Within easy walking distance of the

ently.The Key Figures section (pp11-12) of this newsletter

pedestrian city centre and the future international

observes that, although the number of transactions

Cessange Train Station (TGV), it is also great for bicy-

in Q3 was similar to that of Q2, the amount of space

cles and bus routes, and for car access via the A1,

involved was 45% less. On closer examination, we saw

A3, A4 and A6. It avoids traffic congestion due to its

that this was because most transactions involved

location, with parking either in the building or in the

expansion of existing premises rather than moves to

close-by P&R Bouillon or Monterey Car Park. ALLFIN is

new projects.

looking for similarly proactive, confident tenants for occupation by April 2014. Please see pp 15-16 for an

These strategic decisions reflect a more cautious

overview and contact us for further information.

approach which for many companies has been appropriate in the current economic context. However, deci-

This planning for positive growth is not only led by

sions and the calculated risk-taking that support growth

individual developers, but by Luxembourg itself.

cannot be put off forever. In any industry, to maintain an

Responding

edge, you need to be ahead of the curve (old clichés,

demographic

yes, but they’ve stuck because they contain enduring

ever-expanding international interest in Luxembourg

truths). So… are you ready for 2013? What decisions

for head office and operations bases, the Ministry of

do you need to make to ensure that you maintain your

Sustainable Development has created the “MoDu”

differentiation from your competitors? How do you

mobility project. The intention is to strengthen and

ensure that your clients continue to trust you and that

rationalise the railway network and add an extensive

your prospects view you positively?

tram service, “Luxtram”, which will reduce traffic con-

Above all, of course, you deliver the goods or services

gestion and speed up travel times. Jennifer Venne represented RealCorp at a

that you’ve promised. But what about the way you

recent update conference

deliver

you

where MoDu reported on the

deliver them? Do your premises—your offices, your

ongoing consultations with

warehouses, your facilities—make it easy for your staff to

various stakeholders.

them;

the

image

you

project

as

to

the and

last

30

years

economic

of

increase,

strong and

do their best? Do they convey to clients your confidence

Her summary, available on our Blog, is essential read-

in your company’s ability to survive and respond no

ing for anyone interested in property opportunities in

matter what happens? Do they suggest that you have the

Luxembourg.

creativity and vision to succeed despite the surrounding uncertainty? To support your thinking on these issues,

With my best wishes for a productive Q4,

consider our Current Offers on pp 3-10 of this newsletter, and the many more options available via the Property page of our website.

Michael Chidiac Managing Director

In this vein, our Feature article in this issue focuses on a new, visionary project. ALLFIN Lux is moving confidently ahead with the development of the beautiful Aire Building on Route d’Esch in Luxembourg City. These well-

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.2


Luxembourg – Autumn 2012

Current Offers N

To let

EW

Type: Office Area: 272 sqm Div.: Contact us Availability: Immediate Totally refurbished office/retail space on the ground floor ideally located. Wide window display; public parking nearby. Archives available.

Central Business District

ref.: 203451

To let

To let

Type: Office Area: 324 sqm Div.: N/A Availability: Dec -12

Type: Office Area: 2200 sqm Div.: N/A Availability: Sep -12

In a modern building with a stone facade we offer for rent a fully-partitioned, very bright office floor with quality services.

Independent building with atypical architecture, ideally located. The spaces are well fitted and offer good natural lighting.

ref.: 277590

ref.: 280749

N e Av w S To let ai pa la c Type: Office bl e Area: 1376 sqm e Div.: 184 sqm Availability: Immediate

This building in the pedestrian area of Luxembourg city centre benefits from access control, cooling system and equipped kitchen. ref.: 274563

To let

To let Type: Office Area: 347 sqm Div.: N/A Availability: Immediate

Type: Office Area: 457 sqm Div.: 148 sqm Availability: Immediate

High-standard offices in a topfloor duplex in the pedestrian area of the city centre.

Period property ideally located, close to Embassy area. The premises are well arranged and beautifully fitted.

ref.: 302259

ref.: 204057

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.3


Luxembourg – Autumn 2012

Current Offers N

To let

EW

Type: Office Area: 748 sqm Div.: 145 sqm Availability: Jan -2013 Ideally located in the Bourbon area, these partitioned offices have good standards and have been entirely refurbished. Parking and archives available. ref.: 295372

Bourbon / Station

To let

To let

Type: Office Area: 2550 sqm Div.: 280 sqm Availability: Jun -13

Type: Office Area: 165 sqm Div.: N/A Availability: Immediate

Offices located close to the station and the “Cité Judiciaire”. Excellent parking ratio 1/35 spaces. Either open space or partitioned fit-out is possible. The spaces are fully refurbished, cooled, and secured with access control.

We offer a retail and office space in a building of good standard, close to all amenities.

ref.: 280201

ref.: 304810

To let

La

st

N

EW

Flo

Type: Office or Area: 1158 sqm Div.: 259 Availability: Immediate Brand new building close to all amenities. The premises are well-arranged and in very good condition. Parking and archives are also available. ref.: 207633

To let

To let Type: Office Area: 3000 sqm Div.: 484 sqm Availability: Contact us New building ideally located in front of the Station. The office and retail spaces are easy to fit and benefit from high standards.

Type: Office Area: 981 sqm Div.: N/A Availability: Immediate Fully renovated period property with a stone facade located in the Bourbon area. The premises have been extended on the basement and ground floor. The spaces are splendidly fitted and lighted. Parking available upon request.

ref.: 204107

ref.: 306601

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.4


Luxembourg – Autumn 2012

Current Offers N

To let

Gasperich / Howald / Leudelange

EW

Type: Office Area: 8860 sqm Div.: 816 sqm Availability: Immediate The Vertigo consists of two buildings, each of four levels, offering fully flexible spaces. Atriums and large windows provide a bright and pleasant space for all occupants.

ref.: 207202

To let

To let

Type: Office Area: 4471 sqm Div.: 556 sqm Availability: Immediate

At

tra Re ct nt ive

Type: Office Area: 610 sqm Div.: N/A Availability: Immediate

Brand new building in Leudelange, in the administrative and commercial area. The premises will benefit from natural light and wide open space. Excellent parking ratio.

This 4-storey building offers bright office spaces with a spacious inner courtyard. A very quiet location close to all amenities. ref.: 208267

ref.: 306409

To let Type: Office Area: 975 sqm Div.: 325 sqm Availability: Immediate This high-standard office building is very well located, and offers easily-partitioned spaces which can be split from 10sqm. ref.: 288982

At

tra R en ctiv Type: Office t e Area: 1855 sqm

To let

Div.: 233 sqm Availability: Immediate

This bright and functional office space in an attractively converted industrial building of modern architecture is divisible from 250 sqm.

To let Type: Office Area: 2581 sqm Div.: 230 sqm Availability: Immediate The Elise building reveals a remarkable architectural and environmental concept. The layout of the work area and the exterior landscaping make it an ideal workspace.

ref.: 205166

ref.: 297284

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.5


Luxembourg – Autumn 2012

Current Offers N

To let

EW

Type: Office Area: 1723 sqm Div.: 400 sqm Availability: Immediate Near to Auchan mall, these recent buildings have easy-tofit and well-cooled spaces. Excellent parking ratio. ref.: 306653

Airport / Kirchberg

To let

To let

Type: Office Area: 4749 sqm Div.: 1165 sqm Availability: Immediate

Type: Office Area: 2000 sqm Div.: 420 sqm Availability: Contact us Near to Auchan mall, recent total refurbishment included cooling system and doubleglazing. Easily partitionable. Excellent parking ratio.

The Kubik was fully renovated at the beginning of 2012. The available spaces are well arranged and benefit from high standards.

ref.: 294681

ref.: 304889

To let Type: Office Area: 340 sqm Div.: 75 sqm Availability: Immediate Located adjacent to Luxembourg airport and minutes from the business centre of Kirchberg, we offer offices for rent in a building that offers good quality services. ref.: 203690

To let

To let Type: Office Area: 340 sqm Div.: 62 sqm Availability: Immediate Brand new high standard building close to Airport and its amenities. The lettable areas are full of natural light and can be easily partitioned.

Type: Office Area: 6000 sqm Div.: 442 sqm Availability: Immediate Luxury building with high-quality services in the immediate vicinity of Findel airport and its facilities. The office spaces are conveniently arranged, perfectly soundproofed and fully furnished.

ref.: 217333

ref.: 208700

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.6


Luxembourg – Autumn 2012

Current Offers FO

Bertrange /Strassen / Capellen / Windhof

R

To let

SA

LE

Type: Office Area: 16666 sqm Div.: 284 sqm Availability: Immediate In the Bourmicht area, these 3 office buildings are designed to high standards with good modulation, great parking ratio and many useful services for its tenants (creche, restaurants…) ref.: 279649/ 279623/ 278967

BY FU RE LLY AL LE Type: Office C T Area: 325 sqm O RP Div.: 211 sqm

To let

Type: Office Area: 953.88 sqm Div.: 416 sqm Availability: Q1 2013

Availability: Immediate

This green building, LEED certified, is located at the border of Luxembourg and Bertrange. The high-standard offices can be easily partitioned. Internal and external parking spaces available.

Building located a few metres away from motorways. The premises offer a kitchenette, archives, and parking, at a very attractive rent.

ref.: 201581

To let

ref.: 301227

C BE los LG e IU to M

Type: Office Area: 4660 sqm Div.: 189 sqm Availability: Immediate

Set in quiet and green surroundings, West Side Village offers occupants a safe and pleasant working environment . ref.: 288219

La Av st F To let ai lo Type: Office la or bl s Area: 2637 sqm e Div.: 400 sqm Availability:

Ideal working environment located on Route d’Arlon. This HQE building ensures relatively low cost of common expenses.

To let Type: Office Area: 5863 sqm Div.: 172 sqm Availability: Q1 2012 SolarWind building is focused on ecology and is the first triple-certified project in the world! It spreads over 10,000m² and offers wide and luminous offices.

ref.: 204944

ref.: 207027

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.7


Luxembourg – Autumn 2012

Current Offers Lim

pe

Ha

rts

m

be

To let

Periphery

m

rg

To let

Type: Office Area: 242 sqm Div.: N/A Availability: Immediate

Type: Office Area: 7232 sqm Div.: 377 sqm Availability: Immediate

Ideally located building, close to Place du Glacis, public transport and all amenities. The spaces are well-arranged and benefit from high standards.

Building of good standard in the administrative area of Hamm, offering open-space office accommodation and a good parking ratio.

ref.: 301065

ref.: 221644

C

Liv an

on

te r

ge

n

To let

To let

Type: Office Area: 740 sqm Div.: N/A Availability: Immediate

Type: Office Area: 1697 sqm Div.: 237 sqm Availability: Immediate

In the heart of the Weiergewann area of ​​activity, a booming sector, we offer for rent spacious and bright offices in a perfect state of use overlooking a warehouse. Attractive rent.

The recently completed building is located within close proximity of the A3 motorway to France. The premises is spread over 7 floors, very bright and well soundproofed. Generous parking allowance.

ref.: 204087

ref.: 221809

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.8


Luxembourg – Autumn 2012

Current Offers Di

Lu

x

pp

ac h

io

To let

Retail

St at

n

To let

Type: Retail Area: 1600 sqm Div.: 385 sqm Availability: February 2013

Type: Retail Area: 273 sqm Div.: N/A Availability: Jun -13

Showroom and warehouse located in a calm neighbourhood. The premises benefits from wide window displays and a good space for stock. External parking.

Within the station area, close to public transport, we propose a retail space. The premises benefits from a wide window display and is currently being refurbished.

ref.: 304191

Lu

x

ref.: 282451

Lu

x

St at

io

St at

io

n

To let

n

To let

Type: Retail Area: 365 sqm Div.: N/A Availability: Immediate

Type: Retail Area: 90 sqm Div.: N/A Availability: Immediate

Wide retail space ideally located in the Station area, on the ground floor of a fully renovated building. The premises benefits from large window displays and two separate entrance doors.

Retail space to be refurbished, with terrace and window display. Close to public parking.

ref.: 306903

ref.: 308051

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.9


Luxembourg – Autumn 2012

Current Offers G

as

Liv an

pe

ge

ric h

Warehouse

To let

To let

Type: Warehouse Area: 3700 sqm Div.: N/A Availability: Immediate

Type: Warehouse Area: 2206 sqm Div.: 45 sqm Availability: Contact us

Within the Industrial area of Gasperich, an expanding zone, this used warehouse and office spaces require minimal refurbishment.

Within the industrial zone of Livange, close to the A3 motorway, several used office and warehouse spaces available,requiring minimal refurbishment. Numerous external parking spaces.

ref.: 294037

ref.: 287704

M

en

Ei

sd

sh

or

f

To let

en

To let

Type: Warehouse Area: 3127 sqm Div.: N/A Availability: Immediate

Type: Warehouse Area: 1040 sqm Div.: 140 sqm Availability: Immediate

In Mensdorf industrial zone, warehouse fully adjustable and available at a very attractive rent.

Warehouse with office space located near Belgian border.

ref.: 206988

ref.: 287704

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.10


Luxembourg – Autumn 2012

Key Figures Demand

Q3 Take-up since 2009 and Average Space Transacted

Q3 averaged the same number of transactions as Q2 (an average of 66 transactions per quarter). Major transactions were:

KPMG – 2760sqm in Atrium Business Park in Bertrange ECORE – 1926sqm in Atrium Business Park in Bertrange Alter Domus – 2760sqm in Drosbach in Gasperich SES Astra – 2500sqm in Betzdorf (extension of their own building)

However, there was a significant 45% decrease in total area transacted compared with Q2 2012 because 55 of the 66 transactions were for less than 500sqm. Smaller areas were transacted due to several companies extending their offices (e.g. Grant Thornton, Fujitsu). Compared with Q3 take-up in 2009-2011, this is “low medium” in terms of sqm transacted. Over the first three quarters of 2012, the total amount of sqm transacted was 20% less than over the same period last year, with the main difference occurring in Q3. Q4 2012 might be much more dynamic in terms of sqm transacted, due to decisions being taken before the end of the year.

Volume of Transactions per Geographic Sector

The most active areas were Bertrange (5900sqm/21%), Kirchberg and CBD (each approx. 3900sqm/14%), and Capellen (2792sqm/10%). Bertrange had two of the main transactions this quarter (KPMG and ECORE). Kirchberg had two pre-letting transactions in the new RTL building almost delivered. The CBD registered the greatest number of transactions (16 transactions). Capellen was mostly active due to extension of companies already settled in this area (such as Fujitsu, Dimension Data, etc.)

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.11


Luxembourg – Autumn 2012

Key Figures Supply

Evolution of Vacancy Rate

The vacancy rate continued to increase slightly this quarter (7.43% in Q3 vs 7.16% in Q2).

The following new deliveries were recorded this quarter:

Frada – Leudelange (4500sqm)

488, Rte de Longwy – Luxembourg (4300sqm)

Bâtiment administratif – Kirchberg (5000sqm)

Most of these new deliveries are almost fully let.

Rent Range per Sector

In general, the rent ranges are quite stable. The most expensive areas remain CBD (prime rent at 40€/sqm), Limpertsberg (28 to 32€/sqm) and Kirchberg (30 - 32€/sqm). The average rent remains at 28€/sqm.

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.12


Luxembourg – Autumn 2012

Glossary

Availability

Total office space on the rental or selling markets

Economic rent

Rent calculated after deduction of all Incentives

Headline rent

Rent recorded in the lease contract

Incentives Inducements to future tenants, such as a contribution to fit-out works or a rent-free period New delivery

New buildings that were delivered during the quarter, whether already occupied or still available

Pipeline

Total of constructions expected to be delivered in the near future

Presentation rent

Landlord’s requested rent which is announced to the Lessee

Prime rent Highest value rent recorded for a high quality office unit in the best location during a specified period (after abnormal statistics have been eliminated) Take-up

Total office stock known to have been let, pre-let, sold or pre-sold

Total office stock

Sum of existing office space (buildings), either occupied or free

Vacancy rate Total vacant space offered for letting divided by total stock of space, expressed as a percentage

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.13


Luxembourg – Autumn 2012

Feature fro Av m aila Ap b ril ility 20 14

RealCorp is delighted to offer you bright and inspiring offices in this well-located project.

Aire Building Developed By Earth works begin in October 2012 on this excellently situated building, which is scheduled to complete, including fit-out, in March 2014. The clean white lines of Aire will sparkle in an area already favoured by companies such as Tiberghien, Marks&Clerk, BIL, ING, AngloAmerican and Gestador, as well as the Belgian, Greek and Italian Embassies. It is also close to ICBC, the Bank of China, Thomson Reuters, Lloyds TSB, Orangefield Group, McKinsey, MIAAS Gestion, Regus and the Societe Generale. The 5428sqm of offices include 195sqm for mixed use (cafeteria, meeting and training rooms, fitness area, etc.) and spread over 5 levels plus 1 garden floor. There are also 42 indoor parking lots, 230sqm of archives and an 80sqm terrace. The developer’s flexible approach includes adapting indoor materials and even some layouts to your needs. As a Sustainable Building Aire holds a Breeam Very Good certificate and a B-class Energypass. Economy and energy savings features include a condensation boiler, low temperature boiler (70kWth), a green roof, and a rainwater collection system for the lavatories.

The Location At 90-96 Route d’Esch, Luxembourg City, Aire is in the CBD, but avoids traffic congestion. Park in P&R Bouillon (2450 spaces) or in Monterey Car Park, with easy access via the A6 to Belgium, A3 & A4 to France/Esch and A1 to Germany. Other transport includes: Bus lines 1,4,14,15,17,20, Vel’oh station at corner, bicycle parking in building, walks 10 min. to pedestrian city centre and to future international Cessange Train Station (TGV), 20 min to Central Train Station. Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.14


Luxembourg – Autumn 2012

Feature Availability from April 2014 Floor

Type

Sqm

4

Offices

1018 + terrace 80

3

Offices

1091

2

Offices

1091

1

Offices

1055

Ground

Offices

978

Garden

Mixed Use

195

-1

Archives

230

-2

Parking

42 bays

Total

Offices

2585.64

Technical Specifications Aire’s comfort level is high due to: Cooling equipment Solar protection via TLT venetian blinds Modulation of 1,35m Climatic and acoustic reversible ceilings Permanent air treatment Local comfort control by BUS system Technical cooling (power 67 kWfr) Free height 2,70m Raised floor plenum 12cm Building Management System (BMS) Security is offered via: Access control by badges Video surveillance Fire detection

Have a project, need advice or simply wish to visit ? Contact us

p.13

Tehdi-Edouard Babigeon

Jennifer Venne

Aurélie Vanaudenhoven

Head of letting & sales

Agency & research

Account manager

tebabigeon@realcorp.lu tel: +352 26 27 29 22 (Direct)

jvenne@realcorp.lu Tel: +352 26 27 29 34 (Direct)

avanaudenhoven@realcorp.lu Tel: +352 26 27 29 24 (Direct)

Non-contractual document

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29

www.rea lcorp .lu p.15

RealNews Autumn 2012  

RealCorp's review of Luxembourg Commercial Real Estate in Q3 2012, with a wide selection of current offers for sale or to rent.

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