Potsdamer Platz quarter set for full occupancy

Potsdamer Platz quarter set for full occupancy

  • 34 new tenants and contract extensions lead to office rentals totalling some 70,000 square metres since the beginning of 2016
  • Office occupancy rate up from 53% to more than 80%
  • Around 110,000 pedestrians each day plus high-profile events with national appeal demonstrate the quarter’s urban quality
  • 3,100 orders worth EUR 27.8 million assigned to skilled craft companies, architects’ and engineering offices, primarily in Berlin and Brandenburg

Berlin, 13 June 2017 – Over the past 18 months, Berlin’s Potsdamer Platz has seen a surge in popularity as a location for offices, bars, restaurants and retail, and has established itself as one of the city’s most successful quarters. Brookfield Properties Germany GmbH assumed the management of the Potsdamer Platz quarter with 17 buildings, ten streets and two squares at the beginning of 2016, and has since let around 69,250 square metres in the area. The new lettings are broken down into 44,800 square metres of office space and 2,420 square metres of retail, bar and restaurant space. In addition, ten existing contracts comprising 22,250 square metres of usable space were extended. The occupancy rate for office space, which accounts for the lion’s share of rental space at Potsdamer Platz, increased from 53% in December 2015 to more than 80% in May 2017.

“The arrival of businesses and rental contract extensions are evidence of Potsdamer Platz’s sustained momentum as a central office and retail area. Thanks to our targeted investments, we are ensuring that the quality of buildings remains at the cutting edge,” said Karl L. Wambach, head of Brookfield Germany.

Potsdamer Platz has also established itself as a prominent location for events and entertainment. In 2016, the quarter hosted a range of events for employees, the citizens of Berlin and tourists for a total of 28 weeks throughout the year, which were attended by some 5.5 million visitors. Roughly 110,000 pedestrians passed through Potsdamer Platz every day in 2016, and are a testament to the quarter’s significance for the capital as a whole.

Prestigious companies from numerous sectors have opted to set up their registered offices at Potsdamer Platz. The list includes global consulting firm Bain & Company, Berlin start-up Käuferportal, the German Association for Small and Medium-sized Businesses (BVMW) and the Bombardier Transportation GmbH.

“We are particularly delighted to have attracted Berlin-based start-ups in addition to renowned companies. They add vigour and innovation to Potsdamer Platz and fit in wonderfully,” continued Wambach. “In future, we will place greater emphasis on the external quality and visual enhancement of the buildings, streets and squares. The objective is to strengthen Potsdamer Platz as the beating heart of central Berlin and an ideal place in which to work, live, spend time and interact with other people,” added Wambach.

From the time it took over management of Potsdamer Platz to the end of May 2017, Brookfield awarded some 3,100 contracts worth a total of EUR 27.8 million to skilled craftsmen, engineers and architects for the purpose of renovating buildings and upgrading technical installations. More than 80% of the contracts were given to firms based in Berlin and Brandenburg, thereby generating trade tax and securing jobs in and around the capital.

 

Potsdamer Platz is one of the most lively quarters in the heart of Berlin. As part of the reconstruction programme initiated by Daimler AG in the 1990s, Potsdamer Platz was redesigned based on the plans and concepts of an international team of renowned architects led by Renzo Piano, Richard Rogers and Hans Kollhoff. Potsdamer Platz combines the historical, cultural and economic diversity of Berlin with entertainment and event offerings. The area attracts more than 110,000 visitors each day. Today, the quarter comprising 17 buildings, ten streets and two squares is managed by Brookfield Properties Germany GmbH in its role as asset manager.

Brookfield is one of the world’s largest commercial real estate asset managers with assets worth more than USD 65 billion. It is a leading owner, operator and investor in commercial real estate. The diversified portfolio comprises 149 premium office buildings and 128 of the world’s most attractive shopping centres. Brookfield also owns interests in multiple-family residential units, triple-net-lease real estate as well as industrial properties and hotels and restaurants.

 

Press contact:
Dr. Ulrich Nagel
Tel. +49 30 28 44 987 63
Lutz Ackermann
Tel. +49 30 28 44 987 66
RUECKERCONSULT GmbH
potsdamerplatz[at]rueckerconsult.de