Demand for offices in Barcelona 22@ technological and business district grew 136% in 2014
The 22@ technological and business district of Barcelona, which is located between Glòries and the Fòrum areas and around the streets of Diagonal and Pere IV, grew by 136% more in 2014 than in the previous year. The area has accumulated 88% of the pre-leased offices and has also attracted 34% of operations in the Catalan capital. This huge growth could come to a stop in a year because some experts warn that there will not be enough space available if there is no new construction. The increase in this area of the city is almost three times higher than the average in Barcelona, which grew to 53.76%. The Information and Communications Technology sector leads office acquisition, with 28% of total real estate investment used to set up offices in Barcelona being accounted for by this sector.
Barcelona (ACN).- The demand for offices in the 22@ technological and business district of Barcelona, which is located between Glòries and the Fòrum areas and around the streets of Diagonal and Pere IV, grew by 136% more in 2014 than the previous year. This demand is equal to 28% of that of the entire city with 55 operations and 80,000 square metres hired. Experts, however, warn that in a year there will not be enough space available in the district because the increase in this area of the city is almost three times higher than the average in Barcelona, which grew to 53.76%, according to a report by consultants Cushman & Wakefield.
For the first time since data began to be collected, the availability rate of the Poblenou 22@ district is lower than the average of Barcelona, with figures of 12.05% and 12.5%, respectively. In addition, the 22@ technological and business district accumulated 88% of surface area pre-leased from the city. It also attracted 34% of operations of more than 2,500 square metres that were signed in Barcelona city and its business areas.
New prime area
The property consultants Cushman & Wakefield warns that, at this rate of absorption, office space in the 22@ district will be available for only one more year, and could become the "new prime area” of the city, helped by urban change.
It also highlights the transformation that it has experienced in recent years and the fact that it has managed to attract international companies and investors; the area has become the "motor" of the offices sector, but at the risk of leaving it vulnerable if there is no new construction.
Information and Communications Technology companies lead acquisition of office space in the area, occupying 27.93% of the total, followed by the legal sector with 22.32%, the general service sector (18.2%) and the industrial sector (12.06%). In recent years, the 22@ area has accumulated a volume of investment of more than €1.6 billion in district offices.