Real estate market update 3rd quarter 2008 - Office spaces

Take-up between 1 January and 30 September 2008

A total of 145,399 sq. m of office space was taken up, down 1% on the same period in 2007 (152,693 sq. m taken):

	15% of this space was sold,
	49% of this space was new property, mainly in Part-Dieu and Gerland(Triangle, Solaris Plaza), Vaise, Techlid (Innovalia) and areas to the east of Lyon.

Since the start of 2008, the most attractive areas in terms of office-space take-up (for both new and existing property) are:

	Part-Dieu: 27% of take-up (31% including immediate surroundings),
	Greater Lyon East: 15% of take-up,
	Vaise: 8% of take-up (Vaise Industrie),
	Techlid: 10% of take-up,
	Gerland: 8% of take-up,
	Presqu’île (city centre)/Confluence: 8% of take-up.

Perspective for 2008

A total take-up of 225,000 sq. m should be achieved by the end of the year. Even at this difficult time, Lyon's continued dynamism is confirmed (decent rent levels have been maintained, and quality of life and infrastructure in the city are still very much considered assets by companies looking to regroup).

Pre-letting is facilitated by the development of HQE® (High Environmental Quality) products.

Principal transactions between 1 January and 30 September 2008

	Unilog: 7,319 sq. m (Vaise/Lyon 9)
	Merck Generic: 6,978 sq. m (Saint-Priest)
	Siemens: 4,677 sq. m (Saint-Priest)
	Mylan: 4,477 sq. m (Saint-Priest)
	SNCF: 4,150 sq. m (Lyon 3)
	Caisse d'Épargne: 2,296 sq. m (Lyon 3)
	Matmut: 2,213 sq. m (Saint-Priest)
	ATIH: 2,205 sq. m (Part-Dieu/Lyon 3)
	Boccard: 2,138 sq. m (Villeurbanne)
	French Interior Ministry: 2,100 sq. m (Presqu'île/Lyon city centre)
	LVL: 1,847 sq. m (Cité Internationale/Lyon 6)
	GTM: 1,797 sq. m (Bron)
	Roiret Services: 1,730 sq. m (Saint-Priest)
	Arkema: 1,717 sq. m (Lyon 7)
	Regus: 1,560 sq. m (Lyon 3)
	Zodiac Pool Care: 1,233 sq. m (Bron)
	Imagine: 1,123 sq. m (Cité Internationale /Lyon 6)
	EDF: 1,100 sq. m (Lyon 3)
	Nokia: 1,012 sq. m (Lyon 6)

Rental values realised (in €/sq. m/year exc. VAT and charges)

New/premium property: €260/sq. m/year

Further info

Discover:

	Property & real estate: investment and setting up opportunities
	Property & real estate: 2007 year market trends

Read:

	Real estate market update n°14 (3rd quarter 2008) / Industrial buildings
	Real estate market update n°14 (3rd quarter 2008)  / Logistics buildings
	Real estate market update n°13 (1st half-year 2008) / Commercial buildings (2007 results)

Download

 Real estate market update n#14 (17/11/2008 - 130 Ko)

Contact

	KQ?DANKJEmmanuelle Boucheron
	"Property & real estate" project manager - Greater Lyon