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Office real estate market in Basel-Stadt has more availability in the medium-term

The Economic development unit of the Office of Economy and Labour (AWA) presented the office real estate market changes in Basel compared to the previous year in a recently published article (in Germany only): „Wirtschaftsflächen im Kanton Basel-Stadt – Zustand und Entwicklung 2017-2018“.

Even though inventory and vacancy rates still stagnate on a low level, new real estate projects and area developments are under way and new offerings emerge in the medium-term.

The decision in March 2018 by the cantonal administration about the specifications for the „Rosentalareal“ development marked a milestone to develop this area as a space for premium economic usage. After intense discussions in the commission for the built environment and for urban planning („Bau- und Raumplanungskommission“ (BRK)) in mid-May, the Basel parliament has made a decision about the future development of the area Volta-Nord (Lysbüchel). Conducting architectural studies last year, plans for development have also picked up steam for the areas Güterbahnhof Wolf and for Nordspitze Dreispitzareals.

Around the Basel SBB train station new developments enter the real estate market for companies in Basel such as the Grosspeter Tower, Meret Oppenheim high-rise as well as Baloise Park. While the Grosspeter Tower has already companies as tenants, the Meret Oppenheim high-rise building had a ceremony in April for the construction completion. Also at Aeschengraben, the location of the insurance company Basler Versicherungen, construction is underway. In addition to the space that the insurance company is looking to use for itself, new rental office spaces as well as a hotel are being developed at this location.

Urgently needed lab and office spaces will open up in the business location Basel-Stadt with the further development of the Stücki Park in the Stücki area in Kleinhüningen. In addition, the areas around the congress centre as well as at Neudorfstrasse („Werkarena“) are being developed.

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Jonas Gurtner

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Economic areas, commercial real estate, area development, economic geography, real estate services

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