Quick scan: Papendorp
Spring Real Estate’s Dutch Office Locations Ranking 2017, published in December, ranked 145 office locations in 34 municipalities on their lettability score. In February, we started with an in-depth analysis of some key markets which will be published on a monthly basis. After Sloterdijk (Amsterdam) and the Beatrixkwartier (The Hague), we will now analyse the office location Papendorp in Utrecht.
The Papendorp office park situated between the A2 and A12 highway was developed in the past 15 years. The first developments at Papendorp were large-scale office campuses for major IT and consultancy firms such as CapGemini and Atos Origin. Many tenants left Papendorp after their first lease. Many office buildings were left completely vacant. The vacancy rate in the area rose quickly in the crisis. In the past few years many medium-sized companies moved to Papendorp because of the possibility to lease large amounts of office space. The vacancy rate in Papendorp has decreased rapidly in the past few years. It is expected that Papendorp will attract institutional investors in the near future.
The information presented is based on Springbase.
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