Demand remains stable
demand for commercial space has proved remarkably resilient, the report shows. A total of 267 plots of land covering around 203 hectares were sold. The manufacturing industry alone made up around a third of the buyers. On the other hand, the demand for office space has tended to decline as a result of the pandemic. According to the report, most of the building land was sold to the construction and service industries. The intention was mostly to build warehouses or production facilities.
Commercial sites near the motorway are particularly popular
The old real estate market adage “location, location, location” still applies when it comes to demand for commercial space, as the report shows. Larger objects in the metropolitan region were primarily negotiated on site near a highway. The five municipalities with the highest take-up of space all had motorway connections. According to the report, around 30 percent of the available space is near the motorway. In Hamburg, the share is 86 percent. The available space near the port within the metropolitan area is 421 hectares, those with a railway siding are 228 hectares.
Other locations for sectors with a high research share
Looking to the future, the authors of the metropolitan report recommend more effective development of locations that meet the specific needs of the knowledge-based companies. The Altona Innovation Park, the Itzehoe innovation area, the CFK Valley in the Stade district and the Wittenburg industrial park could serve as positive examples today knowledge-based sites.
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