Press Release Hausinvest leased out an additional 25,000 square metres in 2023

02.04.2024 4 Reading Time

Westfield Shopping Center

Highlights

  • Growth in the residential, retail and gastronomy segments above all
  • Office segment remains particularly strong

 

 
Commerz Real’s open-ended real estate fund Hausinvest concluded new leases or extended existing leases for an area of approx. 207,700 square metres in 2023, about 25,400 more than in the previous year (approx. 182,300 square metres). The number of lease agreements concluded in-creased from 623 to 755. The largest proportion of the total area, approx. 119,500 square metres (2022: ca. 94,000 square metres), was accounted for by lease extensions.
An excellent result and testimony to the attractiveness of our properties and locations.
Jens Boehnlein ist Global Head of Real Estate Asset Management and Sustainability. Jens steht im dunklen Anzug vor einer Wand.
Jens Böhnlein
Global Head of Asset Management and Sustainability at Commerz Real
The primary drivers behind this growth were the residential, retail and gastronomy segments. In the residential segment the leasing performance increased over 2022 by nearly one third, from about 23,300 to about 30,800 square metres, while the number of lease agreements concluded rose from 287 to 403. In the retail and gastronomy sector 265 lease agreements for an area of about 70,600 square metres were concluded. In the previous year these figures had been 250 and about 63,800 square metres, respectively. Although the area for office leases declined slightly in 2023, from ap-prox. 95,200 to ca. 88,300 square metres, the number of lease agreements remained stable at 86. 
“Nevertheless it is a clear signal that the office environment remains important for companies de-spite the growth of home office,” says Böhnlein. “At the same time it is confirmation of our policy of focusing on good and very good locations, where demand will remain high.” In the office segment lease extensions also accounted for the majority of the space – approx. 54,100 square metres (2022: ca. 52,900 square metres).

Among the most important new leases were large-volume lets in London, Paris and Berlin. Thus, for instance, Toca Social offers a combination of dining and an interactive football experience on 3,500 square metres in Europe’s largest shopping centre, Westfield London; Alliance Automotive France, the largest distribution network on the French automotive spare parts market, has occupied 3,300 square metres of office space in Place de Seine; and the fashion brand Bershka, which is part of the Spanish Inditex group, has taken up 2,200 square metres in the Adidas-Haus on Tauentzienstr. in Berlin. 
 

About Commerz Real

Commerz Real is the asset manager for tangible asset investments of the Commerzbank Group and has 50 years of international experience in the market. More than 800 employees manage assets worth around 34 billion euros at the headquarters in Wiesbaden as well as at 17 other locations and branches in Germany and abroad.