RANDSTAD OFFICE MARKET 2014 STATE OF AFFAIRS

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1 RANDSTAD OFFICE MARKET 214 STATE OF AFFAIRS

2 AMSTERDAM REGION Amsterdam Centre 59, 93,5 71, 39,5 26, 32,5 46,5 53,5 55,5 26, Amsterdam Sloterdijk-Teleport 29,5 21, 35, 33,5 13,5 7,5 11,5 2,5 14,5 1,5 Amsterdam West 54,5 5,5 55,5 24, 22,5 17, 19,5 13, 8,5 2, Amsterdam South Axis 13,5 94,5 36,5 35,5 46, 75,5 26,5 37, 57,5 9,5 Amsterdam Southeast 55, 45,5 71,5 65,5 37,5 39, 66, 75, 12,5 33,5 Amsterdam North 14,5 16,5 16,5 2,5 1,5 5,5 2, Amstelveen 35, 72,5 22,5 4, 14,5 8,5 6,5 12,5 13,5 2, Diemen 4,5 24,5 2,5 6, 5 5, 5,5 The first six months of 214 were reasonably positive as far as the office market of the Amsterdam conurbation is concerned. In the open market in which property developers and investors are actively involved, firms and organisations rented approximately 95, m² of office space. And even though the mood could be described as not too bad, indeed demand was slightly below that in the same period last year. The main reason for lower office take-up levels in this region was the lack of lease transactions in the cities of Amstelveen and Diemen. Amstelveen s market in particular was lethargic in the first half of this year. The city of Amsterdam, however, succeeded in keeping take-up levels steady in the same period, allowing the trend of previous years to continue. The market s mood was particularly determined by a number of major transactions with ING Bank, Calvin Klein, Booking.com, TravelBird, Stryker and Lexence. As a result, this time demand was strongest in Amsterdam Southeast and the city centre. Both districts were responsible for two-thirds of office take-up, although one needs to bear in mind the fact that the transaction with ING Bank in Southeast did add serious weight to the scales. Interestingly enough, demand for offices in the South Axis business district was indeed something of a letdown. Despite various transactions, total take-up volumes were below those of previous years. In fact the only transaction worth pointing out was the one that involved the Lexence law firm in the building previously used by the NN Group, better known as the ING House. As for the rest South Axis, Southeast and the city centre were exceptions more than anything. In other parts of the city the first six months of 214 were exceptionally quiet despite price cuts. For instance, demand for premises in the Sloterdijk-Teleport office area got off to a bad start and also the area along the A1 ring road had to sail against the wind. In North there were no transactions whatsoever according to data available to NVM. Generally speaking, most market experts expect demand for offices to hold up well in the second half of this year, although the number of major companies looking for offices will be modest according to expectations. One setback for the office market followed from the increased availability of offices for rent. In the first six months of 214, vacant office space in the Amsterdam conurbation increased by nearly 3 to approximately 1.41 million m². Indeed a large number of square metres of office space have been withdrawn from stock for conversion, yet the floor area taken off the market was insufficient to counterbalance the rising availability of existing office space. Availability increased mainly in the cities of Amsterdam and Amstelveen while Diemen made a positive exception in this region, pushing down its supply levels for the fourth time in a row. It is because the decision was made to take down a number of vacant buildings. One of the interesting developments in Amsterdam is the fact that the South Axis business district in particular saw availability levels rise alarmingly. This mainly followed from the availability of floor area in existing buildings, including ING House, Atrium, Olympic Plaza and Tripolis. Also a number of new construction projects such as The Edge and 1 Mahler led to ample availability. And even though availability levels did climb in the city of Amsterdam, the market senses that in some places there will be a shortage of high-quality office space in the years to come. One of the office locations where this problem has presented itself already, is the ArenA area in Southeast. Notwithstanding the ample supply of offices, various locations managed to keep rents steady. At the best locations, including e.g. the ArenA area in Southeast and the core area of the South Axis business district, in fact a slight upwards pressure occurred and fewer incentives were granted. In Sloterdijk-Teleport that is less popular among office users, however, rents were seriously under downward pressure. Amsterdam Centre 19,5 13,5 136, 19, 139, 15,5 135,5 168,5 152,5 144, Amsterdam Sloterdijk-Teleport 159, 17,5 181, 16, 178, 24, 182,5 229, 233,,5 Amsterdam West 146,5 195, 27,5 186, 28, 167,5 187,5 187,5 157, 167,5 Amsterdam South Axis 26,5 184,5 194, 147,5 131, 91,5 81,5 72, 7,5 132, Amsterdam Southeast 298, 337, 34,5 282,5 292, 37,5 34,5 252,5 323,5 318, Amsterdam North 8, 8, 14, 4, 15, 13,5 18,5 21,5 25,5 28,5 Amstelveen 16,5 94,5 72,5 19,5 126, 144,5 159,5 171, 196,5 215,5 Diemen 74,5 66, 78,5 69, 73,5 72,5 65, 38,5 32,5 25,5 Amstelveen Amsterdam Sloterdijk-Teleport Amsterdam Southeast Amsterdam West Amsterdam North Amsterdam South Axis Amsterdam Centre Diemen TAKE-UP AND SUPPLY IN AMSTERDAM x 1, PRIME RENTAL LEVELS PER DISTRICT MID 214 Amsterdam South Axis Amsterdam Centre Amsterdam Southeast Amsterdam North Amstelveen Amsterdam Sloterdijk-Teleport Amsterdam West Diemen Amsterdam Centre Amsterdam Sloterdijk-Teleport 9 15 Amsterdam West 8 15 Amsterdam South Axis Amsterdam Southeast Amsterdam North Amstelveen Diemen 7 13

3 THE HAGUE REGION The Hague Centre 17,5 52,5 16, 26, 19,5 35, 12, 28, 23,5 21,5 The Hague Benoordenhout 1, 3,5 8, ,5 17, 3,5 2, The Hague Bezuidenhout 48, 29,5 7,5 2, 32,5 41, 21,5 11, 26, 4, The Hague Binckhorst 1, 13,5 15, 2,5 1,5 1,5 4, The Hague Convention Centre 1, 6, 3,5 2, 9,5 1, 7, 1,5 4,5 1,5 The Hague Laakhaven 4, 7,5 1,5 2,5 2, 5 9, 2,5 6, Rijswijk 23,5 5,5 4, 15,5 7,5 13, 5,5 1, 1, 7,5 Leidschendam 5, 5 9,5 5 1, 1,5 1,5 1, Voorburg 4, 5, 3, 1,5 5, 4, 3,5 Delft 1, 1,5 6, 15,5 7,5 6,5 6,5 8, 6, 1, Zoetermeer 19, 12,5 28, 22,5 14,5 11,5 8,5 23, 9,5 1, Better-than-expected lease results allowed the office market in The Hague and surroundings towns to have a relatively good first half year. Assuming the reliability of the available data on office rentals and sales, approximately 45, m² were taken up in the first six months of 214. And provided this trend persists, late this year transaction volumes in this region will be nearly the same as in 213. True to tradition, a leading role was claimed by the city of The Hague, which should not come as a surprise bearing in mind the amount of existing office stock. Although many small to medium-size transactions did take place in the city of The Hague, it was a number of major transactions that helped office space take-up move in a positive direction. One of the transactions that did attract quite some attention involved the office building on the Nieuwe Uitleg which was leased out to the national police forces. Also the UWV (Employee Insurance Schemes Implementing Body) and housing corporation Staedion contributed to these take-up volumes. Because most transactions involved The Hague s city centre, this area has now become the city s hotspot. Especially those locations that are in the proximity of the Central (train) Station have gained popularity beyond the ordinary. Except for the city centre, office users were also interested in the Beatrixkwartier district located in Bezuidenhout, although take-up rates remained slightly below expectations. The course of events in the area surrounding the World Forum Convention Centre and also at the industrial park known as Binckhorst, however, was rather disappointing as potential lessees were hardly interested in any of these areas. Trends in demand were also slow in The Hague s suburbs. In fact, Zoetermeer paid the highest price and only Rijswijk managed to walk away from this reluctant mood where demand for offices remained afloat thanks to transactions with accounting firm BDO and claims adjuster Van Ameyde. Office market events were typified by the fact that total availability in The Hague conurbation dropped significantly for the first time in years. This improved situation to a great extent followed from a decrease in the amount of floor area available in both The Hague and Voorburg. In the city of The Hague supply levels dropped after withdrawing some major office buildings located on the Binckhorstlaan, the Stationsplein and Kortenaerkade in order to make room for e.g. residential construction. Consequently, halfway through the year 13 of The Hague s total office stock was available for rent, versus 14.5 in late 213. Diminishing supply levels in the city of The Hague was mainly a good thing for the city centre and the Binckhorst area. The Bezuidenhout district, however, saw these levels slightly go up. In Zoetermeer they were almost the same and strangely enough, unlike developments in The Hague, hardly any offices were withdrawn although plans to convert a number of long-term vacant buildings have existed for quite some time. The odds are that due to plans of the Netherlands General Intelligence and Security Service (AIVD) to relocate to The Hague, supply levels in Zoetermeer will rise instead. Increased availability is also expected in Rijswijk as considerable floor area will be released following the large-scale new construction on behalf of the European Patent Office. Despite improved market conditions in this region, rents were clearly still under serious pressure in the first half of this year, making bandwidths even smaller. As a result, almost each office location suffered to a greater or lesser extent. Due to ample supply and the relatively limited number of prospective tenants, rents are expected to drop even further down. In addition to downward pressure on rents, real estate agents also identify more generous incentives. The Hague Centre 63,5 41, 63, 78, 111,5 135,5 139, 138,5 164,5 143, The Hague Benoordenhout 26,5 21,5 26, 37, 42, 56,5 46, 49, 68, 65, The Hague Bezuidenhout 44,5 2,5 26,5 53, 62, 5, 52, 66,5 112,5 116, The Hague Binckhorst 58, 55, 56,5 45,5 7, 84,5 84, 85, 78, 57,5 The Hague Convention Centre 32, 37,5 38, 17, 31, 34,5 27,5 33, 3,5 32, The Hague Laakhaven 27, 36, 24, 17, 37, 4,5 53, 7, 58,5 39, Rijswijk 95, 114, 133, 135,5 189,5 193, 221,5 244,5 243,5 238,5 Leidschendam 18, 2, 24, 4,5 46, 46, 44, 45,5 27,5 27,5 Voorburg 9,5 2,5 19, 23, 28,5 3,5 29, 31,5 29, 13,5 Delft 36,5 28,5 18,5 4, 32, 35, 39,5 36,5 44,5 48, Zoetermeer 89,5 119,5 13,5 83, 12, 132, 13, 135,5 138, 136,5 PRIME RENTAL LEVELS PER DISTRICT MID 214 Rijswijk The Hague Centre Leidschendam The Hague Bezuidenhout Zoetermeer The Hague Benoordenhout The Hague Laakhaven The Hague Convention Centre Voorburg The Hague Laakhaven The Hague Binckhorst Rijswijk The Hague Bezuidenhout Voorburg The Hague Benoordenhout Delft Delft Zoetermeer The Hague Convention Centre The Hague Binckhorst The Hague Centre Leidschendam TAKE-UP AND SUPPLY IN THE HAGUE The Hague Centre 125 x 1, The Hague Benoordenhout The Hague Bezuidenhout The Hague Binckhorst The Hague Convention Centre The Hague Laakhaven Rijswijk 7 13 Leidschendam 7 12 Voorburg Delft 9 13 Zoetermeer 65 13

4 ROTTERDAM REGION Rotterdam Centre 41, 43,5 64,5 62,5 33, 72,5 71,5 27, 29,5 17, Rotterdam Prins Alexander 35, 2, 22,5 42,5 7, 2,5 2, 4,5 1, 2,5 Rotterdam Kralingen 14,5 4, 5,5 21,5 8, 17, 12, 11, 2,5 2,5 Rotterdam Waalhaven 3, 21, 1,5 5,5 5 4, 12,5 6,5 4, 1,5 Rotterdam South 38, 51,5 14, 16,5 2, 18,5 1,5 5,5 3,5 5 Capelle a/d IJssel 16, 24,5 8,5 25, 21,5 13, 11, 1, 9,5 5 Schiedam 5 1,5 3,5 17,5 4, 5, 18,5 2, 2,5 The Rotterdam region s office market experienced modest increase in demand during the first six months of 214, although it should be pointed out that recovery was infused particularly by relatively favourable developments in the city of Rotterdam. Indeed, office take-up was absolutely disappointing in Capelle aan den IJssel and also in Schiedam in the first half of this year. As for the city of Rotterdam, demand for rented property ensured take-up worth approximately 27, m² of office space, which is about as much as in the same period a year ago. Expectations for the rest of the year are moderately optimistic. Real estate agents assume market will equal last year s transaction volumes, given the fact that various medium-sized office users are in search of alternative accommodation. In line with previous years, in the first six months of 214 demand was strongest in the city centre, particularly in the area surrounding the Central (train) Station. volumes in the city centre remained steady mainly due to large-scale lease transactions with chemical concern LyondellBasell and Calder Holding, some of the enterprises that are actively involved in labour reintegration. But good take-up rates in the city centre were undone by poor demand for offices in other parts of the city. One interesting detail when it comes to demand for offices was that companies were slightly more interested in the areas known as Prins Alexander and Kralingen (Brainpark). For instance in Kralingen, a large number of square metres were leased out to insurance broker Concordia de Keizer. But despite growing interest in locations on the north side of the city, concrete transactions have not taken place so far. What also added to the slightly positive mood in the office market was how availability developed. Indeed the number of office space available in the city of Rotterdam did slightly climb in the first six months of 214 reaching 726, m² in total, yet growth was much more insignificant compared to previous years. One of the factors involved was the decision to convert several large buildings including offices located on the Westzeedijk and the Schiekade. In addition, no offices were scheduled for construction in the first half of this year, so again increase could not present itself. All in all 21 of offices were available for rent nevertheless. Rotterdam s areas with relatively high availability levels are Prins Alexander, the city centre and Kralingen (Brainpark). In fact, availability only managed to stabilise in the city of Rotterdam. In Capelle aan den IJssel and also in Schiedam availability levels kept rising in the first six months of 214 and as a result, nearly 3 of stock was available for rent in Capelle aan den IJssel. Office vacancy rates were highest in the commercial district known as Rivium but also availability is expected to further grow in the city of Rotterdam, as upon extending their leases companies will require less space than they have so far. While availability increased fractionally in the city of Rotterdam, and although take-up levels did manage to keep steady, parties were more concerned about rents. For net rents continued to fall, affecting peripheral office locations such as Kralingen and Prins Alexander in the first place. In addition, different locations in the city centre had to take lower rents for granted. Rotterdam Centre 18,5 159,5 164, 142,5 271,5 28, 37,5 323,5 389, 396, Rotterdam Prins Alexander 47,5 26, 27, 16,5 17, 28,5 6, 81, 83,5 81, Rotterdam Kralingen 31,5 39,5 53, 41,5 54,5 52, 53, 54,5 56, 61,5 Rotterdam Waalhaven 8, 7,5 13, 11, 16,5 28, 27, 22, 23,5 24, Rotterdam South 24,5 31, 25,5 3, 32, 32, 53, 67, 61, 68, Capelle a/d IJssel 91,5 73,5 88, 64, 96, 18, 132, 136, 14, 146,5 Schiedam 3,5 24,5 26, 22,5 34,5 29,5 24,5 23,5 36, 43, Capelle a/d IJssel Rotterdam Prins Alexander Rotterdam Centre Rotterdam Kralingen Schiedam Rotterdam Waalhaven Rotterdam South TAKE-UP AND SUPPLY IN ROTTERDAM x 1, PRIME RENTAL LEVELS PER DISTRICT MID 214 Rotterdam South Rotterdam Centre Rotterdam Kralingen Rotterdam Prins Alexander Rotterdam Waalhaven Schiedam Capelle a/d IJssel Rotterdam Centre 1 19 Rotterdam Prins Alexander Rotterdam Kralingen Rotterdam Waalhaven Rotterdam South 9 21 Capelle a/d IJssel Schiedam 8 135

5 UTRECHT REGION Utrecht Centre 45,5 74, 2, 12, 6, 24,5 17,5 13, 17,5 14, Utrecht Rijnsweerd 4,5 1,5 16, 14, 36, 5,5 2,5 1,5 2,5 2, Utrecht Kanaleneiland 3, 8,5 36,5 22,5 1,5 7,5 13,5 2, 1,5 Utrecht Lage Weide 9, 12, 16, 4, 2,5 12,5 3,5 5, 9, 5 Utrecht Papendorp 31, 12, 9,5 29,5 11,5 23,5 16,5 9,5 14,5 2,5 Utrecht De Meern 7, 1,5 3,5 2, 5,5 5 1, 1, 5 Maarssen 4, 1, 4,5 6, 1, 2,5 3,5 5 Nieuwegein 37, 13,5 17, 1, 9, 12,5 12, 8,5 5, 7,5 Houten 34, 3,5 5,5 1, 6, 2, 5, 5 1,5 3, A slightly pessimistic mood seems to have taken possession of the office market in the Utrecht region. This slightly negative mindset follows from the reluctant attitude of office space occupiers, who hardly showed up in the first half of 214. Due to insufficient enthusiasm the office market in this region also had to settle for modest transaction volumes that never managed to exceed 35, m². The fact that many organisations decided to wait and see has clearly affected the office market in the city of Utrecht in the first place. Not only did the number of transactions drop significantly, but also the total take-up levels tumbled heavily. Poorer demand for office space in Utrecht presented itself particularly in edge-of-town locations. For instance, take-up in the Kanaleneiland district, which usually reports reasonable letting activities, did not amount to much. And also Rijnsweerd as well as Papendorp experienced the same disappointing demand. But even though transaction volumes in the first half of 214 were something of a letdown almost throughout the city, demand for office space remained steady in the city centre. This, however, was mainly because of two sizeable lease transactions with the Rabobank. All things considered, much needs to be made up for in the second half of this year in order to climb back to the 213 level. One major office user that still qualifies for relocation in the city of Utrecht is the webstore Bol.com that intends to concentrate all activities in the Papendorp district. One of the buildings that could benefit from these plans is the WTC Papendorp that has been vacant for the greater part after Capgemini took off. Some places in the Utrecht region did manage to escape disappointing trends in demand. Such was the case in Nieuwegein among other places, where take-up levels climbed in the first half of 214 following transactions with GoConnectIT and ARGO. Interestingly, slightly more activity was sensed in the municipality of Houten. Except the fact that demand for office space in this region did not meet expectations, the market also suffered from seriously climbing availability levels in the first six months of 214. It is because much office space was added to the market particularly in the city of Utrecht. Due to this growth, which mainly presented itself in the city centre and also in Papendorp, approximately 17 of Utrecht s total stock was available for rent or sale halfway through the year, compared to a little more than 15 towards the end of 213. In Papendorp rise could be ascribed to office spaces released by IT service provider Atos Nederland. Although availability levels went up in the city centre as well, rise was kept within bounds nevertheless. While availability went up in the city of Utrecht, the office markets in Nieuwegein and Houten did reasonably resist; in both municipalities the amount of floor area available remained almost unaltered. Indeed more floor area was released in Nieuwegein, yet a number of vacant office properties were withdrawn from stock. In Utrecht poorer demand for office space and increased availability led to a downward pressure on rents, pushing down prices inside but also outside the city centre. And like in previous years, investors continued to offer incentives on a generous scale. Utrecht Centre 26,5 24, 2, 15, 12,5 14,5 23,5 41,5 56, 68,5 Utrecht Rijnsweerd 31, 49,5 22,5 27, 27,5 41, 49,5 57, 37, 4, Utrecht Kanaleneiland 57,5 89, 66, 56, 74,5 86, 81,5 86,5 9, 94, Utrecht Lage Weide 3, 48, 36,5 34,5 47, 38,5 41, 47,5 52, 54,5 Utrecht Papendorp 28,5 37, 51,5 46,5 55,5 65,5 6, 97,5 89,5 118, Utrecht De Meern 12, 2,5 18, 17,5 23,5 28, 29,5 33,5 34,5 34,5 Maarssen 24,5 35,5 33,5 24, 45, 47,5 44,5 45,5 46, 43,5 Nieuwegein 92, 95, 8, 9,5 127, 159, 176,5 173, 16, 158, Houten 23, 23, 22, 1,5 23, 39, 4,5 45,5 46, 44,5 PRIME RENTAL LEVELS PER DISTRICT MID 214 Utrecht Papendorp Utrecht Centre Utrecht De Meern Utrecht Rijnsweerd Maarssen Utrecht Papendorp Nieuwegein Utrecht Kanaleneiland Utrecht Kanaleneiland Utrecht Lage Weide Utrecht Lage Weide Utrecht De Meern Houten Maarssen Utrecht Rijnsweerd Houten Utrecht Centre Nieuwegein TAKE-UP AND SUPPLY IN UTRECHT Utrecht Centre x 1, Utrecht Rijnsweerd Utrecht Kanaleneiland 9 16 Utrecht Lage Weide Utrecht Papendorp Utrecht De Meern Maarssen Nieuwegein Houten

6 SCHIPHOL REGION Hoofddorp Beukenhorst West 11, 13, 8, 3, 1,5 3, 4, 5, 1,5 1,5 Hoofddorp Beukenhorst East 2,5 13, 15, 8,5 16, 5 13, 7, 6,5 1, Hoofddorp Beukenhorst South 2,5 3, 2,5 28,5 14,5 14, 8, 11, 1, 1, Hoofddorp De Hoek 2, 2, 1,5 4,5 1,5 4, 1, Schiphol 24, 5, 24, 6,5 6, 3,5 11,5 14,5 4,5 1, Schiphol Rijk 15, 1, 9,5 3, 6,5 7, 9, 2, 1, 7, The Schiphol region which usually comes with a lively demand for office space experienced disappointing take-up in the first six months of 214. In the so-called open market, dismissing construction of owner-occupied offices, only 11, m² have found new users. This modest demand for offices in the first six months of the year was particularly persistent in Hoofddorp, resulting in a disappointing image. Not only did the number of transactions fail expectations, but also the lack of largescale lessees has pushed transaction volumes much below the standard. Lessees who were actively involved in the office market were mainly interested in small surface areas anywhere between and 1 m². And even though all locations in Hoofddorp faced disappointing demand, decline in take-up levels was strongest in Beukenhorst- East. Beukenhorst-South too, which stood out in previous years due to lots of new development, suffered from lessees reluctant behaviour in the first half of this year. In addition to Hoofddorp, the office market in Schiphol also lacked any inspiration. Limited demand for office space in Hoofddorp and Schiphol was made up for by positive trends in demand in Schiphol-Rijk, which showed up surprisingly well. Supported by a number of transactions with e.g. Juniper Networks and UPC transaction volumes exceeded the usual take-up levels by far. One of the factors that definitely played a role was the improved accessibility of the area. Although so far lease results in this region have given hardly any reason to be positive, and because the number of prospective tenants is relatively limited, real estate agents are expecting some recovery in the second half of the year. But despite negative trends in demand developments on the supply side did present a ray of hope, for the latter manages to stabilise at the year-end 213 level. The fact that availability levels in this region did not go up and hardly changed in the first six months of this year was mainly thanks to Schiphol-Rijk. While availability levels did climb in Hoofddorp, Schiphol-Rijk ensured a decline in the number of office space available. Increased availability in Hoofddorp was bad news particularly for Beukenhorst- West, where large surface areas were released after the scheduled departure of the Belastingdienst (tax authorities). In fact, rise in this area could have been even more substantial had approximately 5 m² of office space not been withdrawn from stock with the aim of granting it a different purpose. Due to increased availability in Beukenhorst-West more than 4 of the existing office stock in this area was still available for rent or sale halfway through the year. Because quite a few companies adopted a reticent attitude in the first six months of 214, rents in the Schiphol region were under even more pressure, although according to the market by now the bottom has been reached indeed. Hoofddorp Beukenhorst West 39, 35, 3,5 29, 38, 6,5 55,5 56,5 51,5 62, Hoofddorp Beukenhorst East 43,5 43,5 41,5 3,5 44, 59,5 52, 56,5 53, 53, Hoofddorp Beukenhorst South 22, 22,5 18,5 17, 16, 18,5 18, 15, 15, 15, Hoofddorp De Hoek 7,5 7, 7, 13,5 27, 27, 24,5 31, 34, 32, Schiphol 35,5 38, 27,5 34,5 32, 39, 28,5 3,5 38, 36, Schiphol Rijk 58,5 61, 61, 61,5 77,5 76, 61,5 66, 64, 56, Hoofddorp Beukenhorst West Hoofddorp De Hoek Schiphol Rijk Hoofddorp Beukenhorst East Hoofddorp Beukenhorst South Schiphol TAKE-UP AND SUPPLY IN SCHIPHOL REGION x 1, PRIME RENTAL LEVELS PER DISTRICT MID 214 Schiphol Hoofddorp Beukenhorst South Hoofddorp Beukenhorst East Hoofddorp Beukenhorst West Schiphol Rijk Hoofddorp De Hoek Hoofddorp Beukenhorst West Hoofddorp Beukenhorst East Hoofddorp Beukenhorst South Hoofddorp De Hoek 8 13 Schiphol Schiphol Rijk

7 DEFINITIONS Office A spatial and independent unit used for office activities or supporting activities in the first place. Office space that is part of industrial buildings, universities or hospitals is not considered to be an office. Lease and sales transactions taking place in the open market. Users who provide for their own accommodation requirements (the owner-occupier development ) are not included in the take-up volume. The same applies to sale-and-leaseback agreements as well as contract extensions. NVM registers transactions starting at m². Office space immediately available for rent or sale. does not include offices under construction and offices which are yet to be built. includes vacant and developing offices as well as spaces that are still being used but which are soon to be released. is measured in buildings covering at least 5 m². Rent The basic rent paid per square metre of lettable floor area, exclusive of VAT, service charges and lessees specific fitting-out costs. This publication has been produced with the assistance of: P van den Bosch Bedrijfs makelaars (Amsterdam), Fris Bedrijfsmakelaars (Amsterdam), NAI Netherlands (Amsterdam), Van Dijk & Ten Cate Vastgoedadviseurs (Amsterdam), COG Makelaars (The Hague), Nadorp Makelaars (The Hague), Rob Swart Bedrijfshuisvesting (Zoetermeer), Ooms Makelaars Bedrijfshuisvesting (Rotterdam), MVGM Bedrijfshuisvesting (Rotterdam), Ans de Wijn Bedrijfshuisvesting (Utrecht) en BT Makelaars (Schiphol). Colophon Composition Drs. R. L. Bak. Data source NVM Data & Research, Nieuwegein. Design Proof Studio, Amsterdam. Photography H. G. Esch, L. Kramer, Schiphol Real Estate, J. Lankveld en N. van Onna. August 214 NVM Business Fakkelstede HZ Nieuwegein Telephone: (3) NVM BUSINESS RANDSTAD OFFICE MARKET 214

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