RealNews Autumn 2012

SummaryAire Building ata glance

Editorial Our current offers Key figures

Glossary

Our special feature:

Focus on AIRE Building

REALCORP Luxembourg22, Avenue Monterey, L-2163 LuxembourgTel: +352 26 27 29

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Contact Us

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Luxembourg – Autumn 2012

AVAILABLE

IN Q2 2014

Non-contractual document

Professional Real estatebrought to you by

A projec t developed by

Cer t i f ied by

situated offices are BREEAM-certified due to various

sustainability features and will provide an inspiring

workspace that is also highly practical due to its

ease of access. Within easy walking distance of the

pedestrian city centre and the future international

Cessange Train Station (TGV), it is also great for bicy-

cles and bus routes, and for car access via the A1,

A3, A4 and A6. It avoids traffic congestion due to its

location, with parking either in the building or in the

close-by P&R Bouillon or Monterey Car Park. ALLFIN is

looking for similarly proactive, confident tenants for

occupation by April 2014. Please see pp 15-16 for an

overview and contact us for further information.

This planning for positive growth is not only led by

individual developers, but by Luxembourg itself.

Responding to the last 30 years of strong

demographic and economic increase, and

ever-expanding international interest in Luxembourg

for head office and operations bases, the Ministry of

Sustainable Development has created the “MoDu”

mobility project. The intention is to strengthen and

rationalise the railway network and add an extensive

tram service, “Luxtram”, which will reduce traffic con-

gestion and speed up travel times. Jennifer Venne

While leaders and bureaucrats continue to negotiate

and pontificate on the Euro problem, businesspeo-

ple have to keep on keeping on. But, in this time of

waiting, we can see that people are doing things differ-

ently. The Key Figures section (pp11-12) of this newsletter

observes that, although the number of transactions

in Q3 was similar to that of Q2, the amount of space

involved was 45% less. On closer examination, we saw

that this was because most transactions involved

expansion of existing premises rather than moves to

new projects.

These strategic decisions reflect a more cautious

approach which for many companies has been appro-

priate in the current economic context. However, deci-

sions and the calculated risk-taking that support growth

cannot be put off forever. In any industry, to maintain an

edge, you need to be ahead of the curve (old clichés,

yes, but they’ve stuck because they contain enduring

truths). So… are you ready for 2013? What decisions

do you need to make to ensure that you maintain your

differentiation from your competitors? How do you

ensure that your clients continue to trust you and that

your prospects view you positively?

Above all, of course, you deliver the goods or services

that you’ve promised. But what about the way you

deliver them; the image you project as you

deliver them? Do your premises—your offices, your

warehouses, your facilities—make it easy for your staff to

do their best? Do they convey to clients your confidence

in your company’s ability to survive and respond no

matter what happens? Do they suggest that you have the

creativity and vision to succeed despite the surrounding

uncertainty? To support your thinking on these issues,

consider our Current Offers on pp 3-10 of this newsletter,

and the many more options available via the Property

page of our website.

In this vein, our Feature article in this issue focuses on a

new, visionary project. ALLFIN Lux is moving confidently

ahead with the development of the beautiful Aire Build-

ing on Route d’Esch in Luxembourg City. These well-

Editorial

22, Avenue Monterey, L-2163 Luxembourg, Tel: +352 26 27 29 www.realcorp.lu


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Q3 done? Good! What opportunities lie ahead?

represented RealCorp at a

recent update conference

where MoDu reported on the

ongoing consultations with

various stakeholders.

Her summary, available on our Blog, is essential read-

ing for anyone interested in property opportunities in

Luxembourg.

With my best wishes for a productive Q4,

Michael ChidiacManaging Director

To let Type: OfficeArea: 2200 sqmDiv.: N/AAvailability: Sep -12Independent building with atypical architecture, ideally located. The spaces are well fitted and offer good natural lighting.

ref.: 280749

Current Offers


To let Type: OfficeArea: 272 sqmDiv.: Contact usAvailability: ImmediateTotally refurbished office/retail space on the ground floor ideally located. Wide window display; public parking near-by. Archives available.

To let Type: OfficeArea: 1376 sqmDiv.: 184 sqmAvailability: ImmediateThis building in the pedestrian area of Luxembourg city centre benefits from access control, cooling system and equipped kitchen.

To let Type: OfficeArea: 347 sqmDiv.: N/AAvailability: ImmediateHigh-standard offices in a top-floor duplex in the pedestrian area of the city centre.

To letType: OfficeArea: 457 sqmDiv.: 148 sqmAvailability: Immediate

Period property ideally located, close to Embassy area. The premises are well arranged and beautifully fitted.

Cent

ral B

usin

ess D

istri

ct

ref.: 274563

ref.: 302259 ref.: 204057

ref.: 203451


To letType: OfficeArea: 324 sqmDiv.: N/AAvailability: Dec -12In a modern building with a stone facade we offer for rent a fully-partitioned, very bright office floor with quality services.

ref.: 277590

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NEW

New Space

Available


To letType: OfficeArea: 2550 sqmDiv.: 280 sqmAvailability: Jun -13Offices located close to the station and the “Cité Judiciaire”. Excellent parking ratio 1/35 spaces.Either open space or partitioned fit-out is possible.The spaces are fully refurbished, cooled, and secured with access control.

ref.: 304810

To letType: OfficeArea: 3000 sqmDiv.: 484 sqmAvailability: Contact usNew building ideally located in front of the Station. The office and retail spaces are easy to fit and benefit from high standards.

Current Offers

ref.: 204107


Bour

bon /

Stat

ion


To let Type: OfficeArea: 1158 sqmDiv.: 259Availability: ImmediateBrand new building close to all amenities. The premises are well-arranged and in very good condition. Parking and archives are also available.

ref.: 207633

To let Type: OfficeArea: 165 sqmDiv.: N/AAvailability: ImmediateWe offer a retail and office space in a building of good standard, close to all amenities.

ref.: 280201

ref.: 295372

Last Floor

To letType: OfficeArea: 981 sqmDiv.: N/AAvailability: ImmediateFully renovated period property with a stone facade located in the Bourbon area.The premises have been extended on the basement and ground floor.The spaces are splendidly fitted and lighted.Parking available upon request.

ref.: 306601

NEW

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NEW


To let Type: OfficeArea: 748 sqmDiv.: 145 sqmAvailability: Jan -2013Ideally located in the Bourbon area, these partitioned offices have good standards and have been entirely refurbished. Parking and archives available.

To let

ref.: 306409

To letType: OfficeArea: 1855 sqmDiv.: 233 sqmAvailability: ImmediateThis bright and functional office space in an attractively converted industrial building of modern architecture is divisible from 250 sqm.

Current Offers

ref.: 205166


Gasp

eric

h / H

owal

d / Le

udel

ange


To let Type: OfficeArea: 975 sqmDiv.: 325 sqmAvailability: ImmediateThis high-standard office building is very well located, and offers easily-partitioned spaces which can be split from 10sqm.

ref.: 288982

To let Type: OfficeArea: 8860 sqmDiv.: 816 sqmAvailability: ImmediateThe Vertigo consists of two buildings, each of four levels, offering fully flexible spaces. Atriums and large windows provide a bright and pleasant space for all occupants.

To let Type: OfficeArea: 610 sqmDiv.: N/AAvailability: ImmediateThis 4-storey building offers bright office spaces with a spacious inner courtyard. A very quiet location close to all amenities.

ref.: 208267

ref.: 207202


The Elise building reveals a remarkable architectural and environmental concept. The layout of the work area and the exterior landscaping make it an ideal workspace.

ref.: 297284

AttractiveRent

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AttractiveRent

Type: OfficeArea: 4471 sqmDiv.: 556 sqmAvailability: ImmediateBrand new building in Leudelange, in the administra-tive and commercial area. The premises will benefit from natural light and wide open space. Excellent parking ratio.


NEW

Current Offers



To letType: OfficeArea: 6000 sqmDiv.: 442 sqmAvailability: ImmediateLuxury building with high-quality services in the immediate vicinity of Findel airport and its facilities. The office spaces are conveniently arranged, perfectly soundproofed and fully furnished.

ref.: 208700


The Kubik was fully renovated at the beginning of 2012.The available spaces are well arranged and benefit from high standards.

ref.: 304889

Airp

ort /

Kirc

hber

g

To let Type: OfficeArea: 340 sqmDiv.: 62 sqmAvailability: ImmediateBrand new high standard building close to Airport and its amenities. The lettable areas are full of natural light and can be easily partitioned.

ref.: 217333

To let Type: OfficeArea: 340 sqmDiv.: 75 sqmAvailability: ImmediateLocated adjacent to Luxem-bourg airport and minutes from the business centre of Kirchberg, we offer offices for rent in a building that offers good quality services.

ref.: 203690

To let Type: OfficeArea: 2000 sqmDiv.: 420 sqmAvailability: Contact usNear to Auchan mall, recent total refurbishment included cooling system and double-glazing. Easily partitionable. Excellent parking ratio.

ref.: 294681

To let Type: OfficeArea: 1723 sqmDiv.: 400 sqmAvailability: ImmediateNear to Auchan mall, these recent buildings have easy-to-fit and well-cooled spaces. Excellent parking ratio.

ref.: 306653

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NEW

Bertr

ange

/Stra

ssen

/ Ca

pelle

n / W

indh

ofCurrent Offers

ref.: 201581



To letType: OfficeArea: 5863 sqmDiv.: 172 sqmAvailability: Q1 2012SolarWind building is focused on ecology and is the first triple-certified project in the world!It spreads over 10,000m² and offers wide and luminous offices.

ref.: 207027

To let Type: OfficeArea: 325 sqmDiv.: 211 sqmAvailability: ImmediateBuilding located a few metres away from motorways. The premises offer a kitchenette, archives, and parking, at a very attractive rent.

ref.: 301227

To let Type: OfficeArea: 16666 sqmDiv.: 284 sqmAvailability: ImmediateIn the Bourmicht area, these 3 office buildings are designed to high standards with good modulation, great parking ratio and many useful services for its tenants (creche, restaurants…)

To let Type: OfficeArea: 2637 sqmDiv.: 400 sqmAvailability: Ideal working environment located on Route d’Arlon. This HQE building ensures relatively low cost of common expenses.

ref.: 204944

To let Type: OfficeArea: 4660 sqmDiv.: 189 sqmAvailability: ImmediateSet in quiet and green surround-ings, West Side Village offers occupants a safe and pleasant working environment .

ref.: 288219

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Type: OfficeArea: 953.88 sqmDiv.: 416 sqmAvailability: Q1 2013This green building, LEED certified, is located at the border of Luxembourg and Bertrange. The high-standard offices can be easily partitioned.Internal and external parking spaces available.

Close toBELGIUM

Last Floors

Available


ref.: 279649/ 279623/ 278967

FULLY LET

BY REALCORP

FOR SALE

Current Offers



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To let To let

Perip

hery

ref.: 301065 ref.: 221644

To letType: Office Area: 1697 sqmDiv.: 237 sqmAvailability: ImmediateThe recently completed building is located within close proximity of the A3 motorway to France. The premises is spread over 7 floors, very bright and well soundproofed. Generous parking allowance.

ref.: 221809

To let Type: OfficeArea: 740 sqmDiv.: N/AAvailability: ImmediateIn the heart of the Weiergewann area of activity, a booming sector, we offer for rent spacious and bright offices in a perfect state of use overlooking a warehouse. Attractive rent.

ref.: 204087

Type: OfficeArea: 242 sqmDiv.: N/AAvailability: ImmediateIdeally located building, close to Place du Glacis, public transport and all amenities. The spaces are well-arranged and benefit from high standards.

Type: OfficeArea: 7232 sqmDiv.: 377 sqmAvailability: ImmediateBuilding of good standard in the administrative area of Hamm, offering open-space office accommodation and a good parking ratio.

Contern

Limpertsberg

Hamm

Livange


Reta

ilCurrent Offers



p.9


To let To let

ref.: 304191 ref.: 282451

To let

ref.: 308051

To let Type: RetailArea: 365 sqmDiv.: N/AAvailability: ImmediateWide retail space ideally located in the Station area, on the ground floor of a fully renovated building.The premises benefits from large window displays and two separate entrance doors.

ref.: 306903

Type: RetailArea: 1600 sqmDiv.: 385 sqmAvailability: February 2013Showroom and warehouse located in a calm neighbourhood. The premises benefits from wide window displays and a good space for stock. External parking.

Type: RetailArea: 273 sqmDiv.: N/AAvailability: Jun -13Within the station area, close to public transport, we propose a retail space. The premises benefits from a wide window display and is currently being refurbished.

Lux Station

Dippach

Lux Station

Lux Station

Type: Retail Area: 90 sqmDiv.: N/AAvailability: ImmediateRetail space to be refurbished, with terrace and window display. Close to public parking.

Current Offers



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To let To let

To let

War

ehou

se

ref.: 294037 ref.: 287704

ref.: 287704

To let Type: WarehouseArea: 3127 sqmDiv.: N/AAvailability: ImmediateIn Mensdorf industrial zone, warehouse fully adjustable and available at a very attractive rent.

ref.: 206988

Type: WarehouseArea: 3700 sqmDiv.: N/AAvailability: ImmediateWithin the Industrial area of Gasperich, an expanding zone, this used warehouse and office spaces require minimal refurbishment.

Type: Warehouse Area: 2206 sqmDiv.: 45 sqmAvailability: Contact usWithin the industrial zone of Livange, close to the A3 motorway, several used office and warehouse spaces available,requiring minimal refurbishment. Numerous external parking spaces.

Type: Warehouse Area: 1040 sqmDiv.: 140 sqmAvailability: ImmediateWarehouse with office space located near Belgianborder.

Mensdorf

Gasperich

Livange

Eishen


Key Figures



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Demand

Q3 averaged the same number of transactions as Q2 (an average of 66 transactions per quarter).Major transactions were:

KPMG – 2760sqm in Atrium Business Park in Bertrange ECORE – 1926sqm in Atrium Business Park in Bertrange Alter Domus – 2760sqm in Drosbach in Gasperich SES Astra – 2500sqm in Betzdorf (extension of their own building)

The most active areas were Bertrange (5900sqm/21%), Kirchberg and CBD (each approx. 3900sqm/14%), and Capellen (2792sqm/10%). Bertrange had two of the main transactions this quarter (KPMG and ECORE). Kirchberg had two pre-letting transactions in the new RTL building almost delivered. The CBD registered the greatest number of transactions (16 transactions). Capellen was mostly active due to extension of companies already settled in this area (such as Fujitsu, Dimension Data, etc.)


Volume of Transactions per Geographic Sector

Q3 Take-up since 2009and

Average Space Transacted

However, there was a significant 45% decrease in total area transacted compared with Q2 2012 because 55 of the 66 transactions were for less than 500sqm. Smaller areas were transacted due to several companies extending their offices (e.g. Grant Thornton, Fujitsu).Compared with Q3 take-up in 2009-2011, this is “low medium” in terms of sqm transacted.Over the first three quarters of 2012, the total amount of sqm transacted was 20% less than over the same period last year, with the main difference occurring in Q3. Q4 2012 might be much more dynamic in terms of sqm transacted, due to decisions being taken before the end of the year.

Key Figures



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Supply

The vacancy rate continued to increase slightly this quarter (7.43% in Q3 vs 7.16% in Q2).

The following new deliveries were recorded this quarter:

Frada – Leudelange (4500sqm)

488, Rte de Longwy – Luxembourg (4300sqm)

Bâtiment administratif – Kirchberg (5000sqm)


Most of these new deliveries are almost fully let.

In general, the rent ranges are quite stable.

The most expensive areas remain CBD (prime rent at 40€/sqm), Limpertsberg (28 to 32€/sqm) and

Kirchberg (30 - 32€/sqm).

The average rent remains at 28€/sqm.

Evolution of Vacancy Rate

Rent Range per Sector

Glossary



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Availability Total office space on the rental or selling markets

Economic rent Rent calculated after deduction of all Incentives

Headline rent Rent recorded in the lease contract

Incentives Inducements to future tenants, such as a contribution to fit-out works or a rent-free period

New delivery New buildings that were delivered during the quarter, whether already occupied or still available

Pipeline Total of constructions expected to be delivered in the near future

Presentation rent Landlord’s requested rent which is announced to the Lessee

Prime rent Highest value rent recorded for a high quality office unit in the best location during a specified period (after abnormal statistics have been eliminated)

Take-up Total office stock known to have been let, pre-let, sold or pre-sold

Total office stock Sum of existing office space (buildings), either occupied or free

Vacancy rate Total vacant space offered for letting divided by total stock of space, expressed as a percentage


Feature



Availability

from April 2014

p.14

Aire Building Developed By

RealCorp is delighted to offer you bright and inspiring offices in this well-located project.

As a Sustainable Building Aire holds a Breeam Very Good certificate and a B-class Energypass. Economy and energy savings features include a condensation boiler, low temperature boiler (70kWth), a green roof, and a rainwater collection system for the lavatories.

The LocationAt 90-96 Route d’Esch, Luxembourg City, Aire is in the CBD, but avoids traffic congestion. Park in P&R Bouillon (2450 spaces) or in Monterey Car Park, with easy access via the A6 to Belgium, A3 & A4 to France/Esch and A1 to Germany.

Other transport includes: Bus lines 1,4,14,15,17,20, Vel’oh station at corner, bicycle parking in building, walks 10 min. to pedestrian city centre and to future international Cessange Train Station (TGV), 20 min to Central Train Station.


Earth works begin in October 2012 on this excellently situated building, which is scheduled to complete, including fit-out, in March 2014.

The clean white lines of Aire will sparkle in an area already favoured by companies such as Tiberghien, Marks&Clerk, BIL, ING, AngloAmerican and Gestador, as well as the Belgian, Greek and Italian Embassies. It is also close to ICBC, the Bank of China, Thomson Reuters, Lloyds TSB, Orangefield Group, McKinsey, MIAAS Gestion, Regus and the Societe Generale.

The 5428sqm of offices include 195sqm for mixed use (cafeteria, meeting and training rooms, fitness area, etc.) and spread over 5 levels plus 1 garden floor.

There are also 42 indoor parking lots, 230sqm of archives and an 80sqm terrace. The developer’s flexible approach includes adapting indoor materials and even some layouts to your needs.

Feature

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Floor Type Sqm

4

3

2

1

Ground

Garden

Total

-1

-2

Offices

Offices

Offices

Offices

Offices

Mixed Use

Offices

Archives

Parking

1018 + terrace 80

1091

1091

1055

978

195

2585.64

230

42 bays

Technical Specifications

Tehdi-Edouard Babigeon Head of letting & sales

[email protected]: +352 26 27 29 22 (Direct)

Jennifer VenneAgency & research

[email protected] Tel: +352 26 27 29 34 (Direct)

Have a project, need advice or simply wish to visit ?

Contact us

Aire’s comfort level is high due to: Cooling equipment Solar protection via TLT venetian blinds Modulation of 1,35m Climatic and acoustic reversible ceilings Permanent air treatment Local comfort control by BUS system Technical cooling (power 67 kWfr) Free height 2,70m Raised floor plenum 12cm Building Management System (BMS)

Security is offered via: Access control by badges Video surveillance Fire detection



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Aurélie Vanaudenhoven Account manager

[email protected] Tel: +352 26 27 29 24 (Direct)


Availability from April 2014

Documents

RealNews Autumn 2012