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The 22@ registered the hiring of 125,000sqm of offices in 2021, 184% more than in 2020

In total, 125,000sqm were contracted, 184% more than in 2020 and reaching pre-pandemic demand levels. Of the total area contracted in Barcelona, 38% was located in 22@.

A lack of available surface area has continued to be observed that has pushed investors to take positions in all the micromarkets of the district, mainly in the North, where activity continued normally despite the arrival of Covid-19.

Another clear trend is the commitment to quality. 76% of the contracted area is located in buildings classified as A.

The prime rent in the area stands at € 22.50/sqm/month, although the district continues to register rents somewhat higher in some specific assets. The district will have 28 new or renovated projects that will add a total of 311,000 sqm to the stock of offices in the area until December 2023. 26% of this new surface under construction is compromised.

In 2021, 22@ has accumulated a total of € 1,048M in investment, which places it at levels similar to 2019 (record year of investment in Barcelona). 53% of the volume of investment in offices in Barcelona corresponds to 22@.

According to Javier Bernades, Head of the Business Space team at Cushman & Wakefield Spain and president of the Urban Planning and Territory Commission of 22@Network BCN, "the data from 2021 indicate that the 22@ of the present is still a success story, the unknown is whether the new BEMP will live up to what has been achieved in these 20 years".

Offices in Barcelona, on the rise

Despite the situation caused by Covid-19, and the rise of teleworking, the office segment in Barcelona closed the year with a total investment of close to 2,000 million euros, which means a significant increase compared to the 755 registered in 2020.
The total demand for offices in Barcelona in 2021 was 86% higher than that registered in 2020, having contracted a total of 332,000 sqm.

Cushman & Wakefield has advised the largest office investment transactions that have occurred this year in the city. The real estate consultancy advised the sale of Sea Towers, located in 22@, in June of this year, for 185 million euros; and the building of 22@ One Parc Central, in March, for 128 million euros. The consultancy has also advised the sale and purchase of Diagonal 123, in March, for 55 million euros.

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