CBRE: “RCD IS THE PLACE TO BE FOR BUSINESSES”

Hugo Jonkman joined CBRE as city leader of their multidisciplinary regional Rotterdam office late last year. Though still relatively new to the company, he has been working in the real estate world for years now. Michael Blokland, by contrast, is an associate director who has been with CBRE for many years. Hugo, Michael and the rest of their team combine the knowledge needed to give clients the best advice. So, what’s their take on the office property market in Rotterdam, present and future?

“Last year was quite a good one for the office property market. There was a large amount of local activity driven by local parties”, Hugo says. “The office property landscape is actually in really good shape in Rotterdam. Space is at a premium because it’s limited and in high demand, particularly in the Central District, but everyone manages to find a good spot for themselves in the end.” Both men think this trend will hold in the period ahead.

“We expect to start seeing movement among the big corporates this year as they’re more motivated than ever to make good on their sustainable ambitions”, Hugo continues. The question, Michael adds, is where they’ll go and what they’ll want.

“We’re noticing that tenants are attaching many more conditions to real estate than ever before. Not only the construction process of a building has to be sustainable, but its performance and CO2 impact, too.”

Multifaceted Advice

All of which means clients are now turning to CBRE for advice on more than merely where and when offices will be available to move in. “We’re being asked to advise on all facets”, Michael confirms.

“Which is excellent, because we can answer all those questions.” Believe it or not, he says, sustainability has become an even bigger priority than it was a year or so ago. “Partly because property owners have to hold a minimum ‘C’ energy label rating as of this year, but also because of the soaring energy prices. We are getting many more questions about that and advising lots of clients on how to best approach it.”

Delftse Poort

Which current buildings do Hugo and Michael think are getting it right? Both point to Delftse Poort as the embodiment of everything a building should strive for in terms of quality, concept and structural layout. “The whole thing is just really well thought out”, Hugo says. “It’s not just an office, but an entire concept with informal places to congregate, leisure spaces, meeting options and a restaurant and coffee bar. You name it, they’ve got it. It’s so much more than just a place to work.” Which explains the popularity of this building and others like it. “We’ll be seeing many more office spaces like this in future”, Michael predicts. “The most concrete examples catering to this market are AIR Offices at the old V&D and Hudson Bay premises, which offer precisely what tenants want.” The downside, Hugo says, is that “it will take a while before these and other comparable properties are completed, so in the coming year we’ll be doing a lot of shuffling and reshuffling to make things fit. Which is fun, but also a big job.”

Attraction

It all comes down to the fact that office properties in and near Rotterdam Central District are in high demand, and although the rest of the city and surrounding region have plenty of space with excellent potential, Hugo says outlying areas just don’t seem to fit the bill. “They don’t exert the same pull as places in the city centre. Amenities and access are a huge part of it, but, to be totally honest: this area is nearly well full. You can tell because rents are shooting up. For businesses, this is just the place to be. Because of the innovation here and the connectivity, and all the opportunities RCD has to offer.”