 Canton of Zug (within white line) |
The Office Letting Market in Zug • A number of significant developments at Zug and adjacent Baar have recently come to the market significantly increasing supply • Vacancy is now estimated to be approximately 75,000 m2 (KREC estimate end May 2003) • Vacancy rate now estimated at 6.6% (KREC estimate end May 2003) • Letting market is slowing with reduced take-up and reducing tenant demand. |
| source: Infoplan & KREC 2003 | |
 Zug Office rental values |
Rental values • Rents stabilise in city centre • Prime rent CHF 480/m2 p.a. • Current average asking rents – CHF 235/ m2 p.a. • Despite already high vacancy the additional impact of Zürich’s oversupply is still not affecting asking rents, although other incentives are becoming common. |
| Source: Key Real Estate Consultants - May 2003 |
Major offerings on the market currently include:
| Baarerstrasse, Zug | 1,994 m2 | seeking CHF 240/ m2 p.a. |
| Steinhauserstrasse 10, Cham | 3,870 m2 | |
| Bahnhof Zug – Gleis 3 ½ | 3,966 m2 | seeking CHF 270/ m2 p.a. |
| Dammstrasse, Zug | 5,000 m2 | seeking CHF 286/ m2 p.a. |
| Westgate, Neuhofstrasse 1, Baar | 12,000 m2 | |
| Oberneuhofstrasse 10, Baar | 32,100 m2 | Available for sale at an asking price of 43.5 million (CHF 1,355 / m2 p.a.) – mixed office and workspace |
© Copyright KREC Limited 2003
It should be noted that the KEY INDICATORS SERIES of briefing notes have been prepared to give clients an indication of market values and activities. They are based on a variety of sources of information, which are believed to be correct and reliable. However, no liability will be accepted by KREC for errors or inaccuracies.