Industry Hamburg Q12019

The market for industrial, warehousing and logistics properties in Hamburg and its environs made a slow start to the year 2019, with 30 agreements generating take-up of 73,000 m². Year-on-year, take-up slumped by 23 % for the quarter. During the same period the proportion of owner-occupiers sank by 75 % to 11,000 m². These figures emerge from a survey by Grossmann & Berger, a member of German Property Partners (GPP). “The sluggish start to the year is a consequence of the shortage of space that started to show in recent years. In the first three months of 2019 this lack has become even more acute“, says Felix Krumreich, consultant for industrial, warehousing and logistics properties at Grossmann & Berger, in his assessment of the Hamburg market.
 
Market details:

• Once again the market was dominated by the logistics/communication/forwarding sector, which accounted for 48 % of take-up. Two of the three biggest transactions in the 1st quarter were posted in this segment of industry.
• No agreements were signed for over 10,000 m² of space, primarily due to the shortage of available premises in this size category.
• Monthly rents, both premium and average rates, remained high. The 1st-quarter figures were €6.00/m² and €5.00/m² respectively, as they were at the end of 2018.
• Grossmann & Berger expects take-up of space in 2019 to fall well below the 5-year average because very few new property developments are under way.

 
Industrial, Warehousing and Logistics Property Market, 1st Quarter of 2019

Industrial/warehouse/logistics Hamburg	2019/Q1
Space take-up [m²]	73,000
against prior yr [%]	-23
Owner-occupiers	11,000
against prior yr [%]	-75
Premium rent, net of services	€ 6.00/m²
against prior yr [%]	+/-0.0
Average rent, net of services	€ 5.00/m²
against prior yr [%]	+/-0.0
Most popular sub-market	Hamburg South
Most popular sub-market [%]	65
Industry with highest turnover	Logistics/communication/ forwarding
Industry with highest turnover [%]	48

 
     
 

 
Selected transactions | Industrial, Warehousing and Logistics Property Market, 1st Quarter of 2019

City	Road/street	Property/project	Tenant/owner-occupier	Area in m² (approx.)
Hamburg	Vollhöfner Weiden 17	Logistics estate (high-bay warehouse)	Nutwork Handelsgesellschaft	9,700
Hamburg	Schmidts Breite 15	-	TCO Transcargo	8,400
Hamburg	1. Hafenstrasse 11-15	Hall 6	MyCargoLogistic	7,500
Hamburg	Vollhöfner Weiden 17	Logistics park	Darguner Brauerei (brewery)	4,450
Hamburg	1. Hafenstrasse 13	Hall 5	Transa Spedition	4,000