According to the latest data released by Cushman & Wakefield the western corridor zone (route A5 Lisbon-Cascais) had an exceptional performance in the first 8 months of the year. Between January and August 2017 in Greater Lisbon 91,000 sqm of offices have been contracted, a number equivalent to the previous year, whereas in the western corridor the demand has doubled as compared to 2016 with more than 23,000 sqm traded, which is the highest figure registered in the area since 2008. The primary reason for this turnover would be the shortage of spaces in the centre of the city and in the Parque das Nações, which are locations of choice for occupiers who shifted from zone 6 (Western Corridor) in the past.
The Western Corridor, the Out-of-town office market of the Greater Lisbon, stretches along the route A5 (Motorway Lisbon - Cascais) which consists of office blocks in the municipalities of Oeiras and Amadora. This is the second largest zone of offices spaces in the Greater Lisbon, that is only overtaken by Zone 2, and it is split up in 4 sub-zones: Miraflores/Linda-a-Velha, Carnaxide, Alfragide and Parques with A5 Offices (in Paço d'Arcos).
The A5 Business Parks, among which are highlights the Lagoas Park and Quinta da Fonte, have registered over the past few years the highest volume in terms of demand, which follows zones Miraflores and Linda-a-Velha in terms of representativeness.
In the first eight months of the year the A5 Business Parks kept its prevalence in term of uptake of demand, with some 9,000 sqm traded, which represented 38% of the total contracted in the Western Corridor. The zone Miraflores/Linda-a-Velha has increased its representativeness in the market and it has closed 16 deals that totaled around 7,000 sqm.
The strong commercial activity perceived in the zone has contributed to an adjustment to the availability ratio, which is currently in the range of 16,1%, and it is adjusted by 130 basis points in comparison to 2016, but it is still one of the highest in the market. The evolution of the level of income reflects also the good performance of this sub-market, whose income prevails and it currently stands at 13€/ sqm /month, amount that represents an increase of 18% in comparison with 2015.