The results of the 2022 professional property and real estate survey are in, with a strong indicator: a new record for the volume of office space transactions in the Montpellier Métropole area!
Montpellier’s east side preferred for offices
More than 45% of the companies surveyed are concentrated in Montpellier’s east side (Odysseum, Millénaire, Eurêka), and 28% south of Montpellier (Parc de l’Aéroport, Cambacérès, Garosud, Mauguio). Downtown Montpellier represents 28% of the surface take-up (+12% from 2021), with a lease rate that remained stable at 190 €/m² (excl. tax). New space represents about 37% of all transactions for average-sized space (under 1,000 m²), a figure that has declined with the rise in remote working. Inventory will gradually be replenished in 2023 and 2024, notably with the expected delivery of the Cambaceres, Cité Créative, Port Marianne, and Nouveau Saint Roch programs.The market for professional space extends into new areas
The Observatory noted that, due to a lack of “new property solutions and offerings in Montpellier,” the market is extending out towards nearby cities to the west such as Sète, Frontignan, and Clermont-L’Hérault, as well as towards Lunel in the east. The average surface area for transactions was 547 m², down from 2021. Leases have risen, now with an average rate of about 110 €/m² per year (excl. tax). The 150 transactions identified in 2022 absorbed “inventory available in a year,” highlights the Observatory. While inventory declined consistently, several operations are either under construction or in the process of obtaining a permit, notably “Saga” in Vendargues, “Carbon” in Fabrègues and Sète, “Airflow” and “EMA” by the airport, and “Equilibre” at Montpellier Garosud. Other programs for business space are in progress in nearby Sussargues, Cournonterral, Charles Martel (extension program), and in the Vailhauquès Éco Parc.For additional information, please contact: Nicolas Huet – TERTIA Conseils Entreprises – +33 6 29 79 79 23 or nicolas.huet@tertiaconseils.fr), 2022 Representative for the Observatory of Professional Property
The Observatory of Professional Property for Montpellier and the greater Montpellier area is comprised of five promotor partners (Advenis, Arthur Loyd, BNP Paribas RE, CBRE / TERTIA Conseils, and Norman Taylor), Montpellier Métropole Méditerranée and SERM/SA3M, with the participation of ABC Immobilier, FDI GACI, and THELENE Entreprise. The Observatory is managed by CERC Occitanie.
