000 m of January to September against 109

The offices of the Toulouse metropolitan area market has not suffered from the crisis. The placed application from 1 January to 30 September reached 99.400 m, a higher level than the same period of 2008 (92.400 m) and 2007 (89.100 m). Toulouse market has done better that in 2006, an exceptional year by reason of the construction into account clean by pharmaceutical laboratories Pierre Fabre a 42,000 m on the Canceropôle research centre. This year, placed demand for offices saves 24,000 m in own-account, including 19,000 m built by Airbus and 5.000 m by Astrium, wholly owned subsidiary of EADS. Out in own-account, transactions for offices totalled 75.400 m over nine months, against an average of 78.100 m on the same period since 2005. "It's a good surprise!" welcomed Marc Delpoux, regional director southwest of BNP Paribas Real Estate Transaction. "The request placed offices reach 120,000 m this year, in the middle of the transactions of the metropolitan area."

However, operators feel a drop in demand in the fourth quarter, which could go in 2010. Sales of offices to the investors have reached only 33.000 m of January to September, against 109.600 m for the year 2008. The market is carried by the big companies and Governments. Among the large operations, Groupama d'Oc will relocate its regional headquarters in Toulouse in 2010 to settle in totals m of new offices, the new area of activity of Balma, close to the centre and served by the Metro. Pole job also 5.160 m in Balma, insurance MFPS 1.750 m in the same city, Aeroconseil rents 1.900 m at Labège and Boiron laboratories building 1.900 m of offices in the area of the plain, in Toulouse.

The nine draws the market and represents 63 of placed demand from January to September, with 62,400 sq m. "Companies prefer to go in the nine to make energy savings and work in more functional premises," said Michelle Bellan, Regional Director of CB Richard Ellis and past President of the Toulouse Observatory of the real estate business (Otie). "Several companies pool their offices in new buildings," observes for its part Marc Delpoux, which will take the Presidency of the Otie in January. The nine is much more attractive that "his pri x has declined by nearly 10 on average in 2009", he added. The average annual rent for offices amounted to 142 EUR per metre square duty-free in the nine and 112 euros in the former.

Nine preferred

The success of the nine is the misfortune of the former, whose stock soared to 103.000 m at the end of September. "The old offices may become obsolete with the Grenelle of the environment, warned Michelle Bellan. Owners must renovations and install a more efficient air conditioners. "There are, at the same time 82.200 m of surface available in nine, the total stock of offices - 185.200 m at the end of September 2009, against 136.600 m a year before - represents a year and a half of transactions. This stock inflate even with delivery scheduled approximately 100,000 m of tertiary surfaces here at the end 2010, 80 per cent in new Andromeda to Blagnac and Bordelongue areas in the urban free zone of Toulouse. "If the request does not resumes in 2010, there will be an overage will be the price downwards", feared Michelle Bellan. After the shortage of new offices in 2005, local authorities have launched real estate programs, massive arriving on the market in 2009 and 2010. "It is difficult to predict demand for offices five years in advance, but could have been avoid placing too many permits to build simultaneously on the same area, as in Andromeda, where 50,000 m arrive suddenly", is the President of the Otie, who hopes that the transformation of the greater Toulouse urban community will enable better planning.

The placed application for space activity and warehouses reached 126.800 m of January to September, against 101.800 m a year earlier. This good result comes from two large buildings in own account: Airbus builds a factory of 53,000 square metres for the final assembly of the future A350 in the airport area and Coca-Cola expanded 7.660 m its bottling plant in Castanet. Out of own-account operations, placed demand is high to 65.200 m over nine months, but a big operation to post in the fourth quarter dates back to the level of the transactions at the level of 2008: the operator asked the GA group to build a 30,000 m sorting centre in the logistics area Eurocentre, Castelnau of Estrétefonds.

On a little active market, the available inventory of premises of activity remains stable, with 108.200 m to 30 September, and the warehouse moves from 20 to 39.800 m. The average annual rent of industrial premises is 85 EUR per metre square duty-free in the nine, but fell to EUR 30 in the former, prompting many of PMI for rent of the premises of second hand.