Avison Young in Düsseldorf
Avison Young opened its office in Dusseldorf in 2015. The growing team offers national and international clients the full range of real estate advisory services in North Rhine-Westphalia. The team specializes in office and retail leasing as well as in investment services across all asset segments.
Area Overview
Duesseldorf is the capital of North Rhine-Westphalia, Germany’s most populated federal state and part of the Rhine-Ruhr metropolitan region. With more than ten million inhabitants the Rhine-Ruhr region is one of Europe’s five largest agglomerations, centrally located in the continent. Its infrastructure and transport connections are outstanding. Some 60 million people, approximately 40% of the E.U population, live within a three-hour drive.
Duesseldorf is Germany’s fashion hub, with more than two thousand wholesalers and more than four thousand retailers. Other important industries are media, consulting and manufacturing – the latter mostly represented by headquarters and branch offices of global corporations. Overall, Duesseldorf benefits from a well-diversified economy and offers a high quality of life with a vibrant nightlife and restaurant landscape, an important art scene and a diverse range of leisure activities.
Markets
Office
With an office stock of some 9.2 million square meters, Duesseldorf is part of Germany’s top five office markets. Based on a well-diversified economy and enjoying overall economic growth, Dusseldorf’s office market reaches stable to strong annual letting volumes. Office vacancy continues to decrease while prime rents are under upward pressure and average rents are moving upwards. Duesseldorf’s most sought-after submarkets are Banking District, CBD, Media Harbour, Kennedydamm and Airport City.
Retail
Given its reputation as fashion hotspot in Germany, Duesseldorf is one of the country’s most desirable retail locations, especially in the luxury segment. Strong purchasing power indicators keep Duesseldorf in focus of national and international retailers. One of Germany’s most well-known luxury prime destinations is Koenigsallee, a top retail location for international luxury brands. Adjacent Schadowstrasse caters mostly for the mid-market segment and shows high retail chain penetration. The area around Flinger Strasse targets a young, urban crowd. Duesseldorf’s retail landscape has a strong focus on the CBD including high-street and shopping center retail.
Industrial
Located in one of Europe’s most densely populated major agglomerations, stretching from the East of the Ruhr Valley to the West of Amsterdam, Duesseldorf is an important logistics hub in Germany. The region’s road and train network is extremely dense and provides very good connections to the Benelux and further to the East and South of Germany. Moreover, the river Rhine offers important opportunities for modal split. Two inland ports are located within Duesseldorf’s market area. Duesseldorf International Airport is another high-demand logistics location.
Investment
As the political center of North-Rhine Westphalia, with an international, broad-based economy, Duesseldorf is well in the focus of national and foreign investors. In the recent past, the dominate segment has been office, followed by retail and industrial/logistics.