Profond’s investment in the GVZ shows that the market for commercial space and real estate in Bremen is on the up. The figures speak for themselves and demonstrate why Bremen is so popular with investors: the vacancy rate for office space stands at just 3 per cent, take-up in the logistics sector is nearing 200,000 square metres, and the annual volume of transactions amounts to €450 million.
Nowhere is this more evident than in Bremen city centre, where more than €1 billion of private funds is being invested in developments. Prominent among these developments is Citygate Bremen, a complex which will provide more than 12,000 square metres of usable space, right by the main train station. Foreign investors are also funding the development of the former head office of a Bremen bank in the heart of the city, and more than 10,000 square metres of usable space will be added by new buildings at other sites. And in Bremen’s newest district, Überseestadt, a completely new quarter is being created, called Überseeinsel. Apartments, commercial space and car parks are being built on a 15-hectare site, just two kilometres from the city centre, that was once occupied by a cereal manufacturer. Sustainable homes and innovative traffic schemes will be a particular focus here.
“Bremen’s investment market benefits from the capital markets being under pressure to invest,” says Andreas Heyer, CEO of Bremeninvest. “The performance of the various market segments ranges from stable to very good, demonstrating that Bremen continues to be an extremely attractive investment location for international investors.”
Bremen is Germany’s sixth-largest industrial hub and specialises in logistics, automotive manufacturing, aerospace, the maritime sector and wind energy. Its dynamism is reflected in the fact that its economy expanded by 3.3 per cent in 2017, higher than any other federal state in Germany.