Property advisor Savills has announced the opening of a new office in Hamburg. The office is staffed by a 16-person team headed by Lars Breur, who recently relocated from Savills Berlin where he was director of investment. The company now has four offices in Germany.

Property advisor Savills has announced the opening of a new office in Hamburg. The office is staffed by a 16-person team headed by Lars Breur, who recently relocated from Savills Berlin where he was director of investment. The company now has four offices in Germany.

Hamburg currently has 13 million m2 of office space, of which 320,000 m2 was leased in 2006. The city's office market has a declining vacancy rate, which is below the national average of 8%.