• Companies are assessing their space requirements more precisely
• Sustainability as a key to the future of the office market

The office property market is undergoing a significant adjustment, yet remains stable and attractive. Take-up varies considerably across the Ruhr region. In the first nine months of the year, Essen recorded just over 60,000 m² of take-up, a marked decline compared with the previous year. Dortmund, by contrast, saw a significant increase to more than 70,000 m² over the same period. Property adviser Brockhoff observes that companies are analysing their space requirements more closely and adapting to a changing world of work. Working from home has become an established part of modern working life, although its use is declining.

Despite changing conditions and more cautious demand for space in some cases, office property remains a key asset class for investors. Continued demand, especially for flexible and modern space concepts, underlines the importance of office properties in long-term investment portfolios. Brockhoff sees further potential, particularly in sustainable, energy-efficient buildings that meet the needs of modern workplaces and promise attractive returns over the long term.

Modernisation is especially important in Ruhr office markets, where many buildings date from the 1980s or earlier. Owners’ willingness to invest is becoming the decisive factor. For property brokers such as Brockhoff, the role has shifted from simply marketing buildings to providing holistic advice on repositioning them. Numerous projects have shown that energy-efficient refurbished properties with modern space concepts can be fully let quickly.

Properties that fail to meet sustainability standards and modern expectations for space concepts risk losing their appeal over the long term.

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About Brockhoff

Brockhoff GmbH is one of Germany’s leading commercial real estate brokers and the market leader in the Ruhr region. The owner-managed company, based in Essen, was founded by Eckhard Brockhoff in 1987 and has extensive expertise in marketing properties across the OFFICE, INVEST, RETAIL and LOGISTICS sectors, built on over 35 years of experience in real estate. Its portfolio includes the nationwide sale of office and investment properties, office leasing with a focus on the Ruhr region, the brokerage of retail properties in prime 1A locations in small, medium-sized and large German cities, and the leasing and sale of logistics properties. In 2021, ADOMO Beteiligungs GmbH acquired a 41% stake in the company. The remaining 59% is still held by founder and Managing Partner Eckhard Brockhoff.