VÖLKEL closes approx. 120 new rental agreements signed or actively extended
According to VÖLKEL Real Estate, it concluded or actively extended around 120 new leases and around 66,000 m² for its managed portfolio in 2024. This represents an increase of well over 30% compared to the previous year.
The fixed terms in the VÖLKEL portfolio also increased again, as in 2023. The weighted average of new contracts and term extensions was above the previous year’s level at a good 4.0 years.
The further increase in average rents in 2023 shows the rising demand and overall positive development of the bricks-and-mortar retail sector in 2024.
“We are clearly feeling the increased demand from bricks-and-mortar retailers for well-located, highly frequented and well-managed locations. Many retailers are open to economically attractive offers of well-located, suitable space in strong retail properties. Many retailers are also willing to commit to locations for longer if they are confident that the locations will continue to develop well in the future. The retail sector is active and expanding. We are confident for 2025,” says Managing Director for Development, Leasing and Revitalization, Rüdiger Hampe.
This performance underlines VÖLKEL’s claim to solution competence in asset management.