Industrial Hamburg 3Q2019

3rd quarter brings first real signs of revival


Press release | Hamburg
17.10.2019


In the 3rd quarter a further upturn in the market took total turnover to some 90 agreements for 246,000 m² of industrial, warehouse and logistics space in Hamburg and its environs. Although this total remains 34 % below that of the prior year, its take-up of 96,000 m² makes the 3rd quarter the strongest in 2019 thus far. Owner-occupiers accounted for 18 % (45,200 m²) of the market compared with 22 % a year ago. In view of a variety of planned construction starts and expiring rental agreements, analysts at Grossmann & Berger, a member of German Property Partners (GPP), expect further growth in take-up by the end of the 4th quarter. “Our forecast that the year would be weaker overall has proved correct. This is due to the shortage of mid-sized premises available within a few months. We have therefore revised our expectations to an annual take-up of 350,000 square metres at most,” explains Felix Krumreich, consultant for industrial, warehouse and logistics properties at Grossmann & Berger.

Market details:
  • No agreement for more than 10,000 m² has been signed in 2019. The lion’s share of the market (45 %) was comprised of properties sized between 5,001 and 10,000 m² (2018: 26 %).
  • The ongoing shortage is driving premium rents even higher. €6.30/m²/month is the new top rate. The average rent remained at €5.00/m²/month.
  • As in the past, Hamburg South was the strongest sub-market, accounting for 33 % of the market (2018: 45 %), followed by Hamburg East with 14 % (2018: 16 %). Firms in the logistics/communications/forwarding sector were predominant, with 51 % of take-up (2018: 63 %).

Industrial, warehouse, logistics | Hamburg | 2019 Q 1-3
Space take-up [m²] 246,000
against prior yr [%] -34
Ratio of owner-occupiers [%] 18
against prior yr [percentage points] -4
Premium rent
[€/m²/month net of services]
6.30
against prior yr [%] +6.8
Average rent
[€/m²/month net of services]
5.00
against prior yr [%] +2.0
Most popular sub-market Hamburg South
Most popular sub-market [%] 33
Industry with highest turnover Logistics/communications/forwarding
Industry with highest turnover [%] 51




















Selected top transactions | industrial, warehouse and logistics properties | Hamburg | 1st-3rd quarters of 2019
City Road/street Property/project Tenant/owner-occupier Floor area
[ca. m²]
Hamburg Vollhöfner Weiden 17 Logistics estate
(high-bay warehouse)
Nutwork Handelsgesellschaft 9,700
Hamburg Tilsiter Strasse 144 Industrial property Hemro Manufacturing Germany 9,200
Bad Oldesloe Rögen 19-27 Logistics complex Hertling Hamburg 9,000
Hamburg Neuhöfer Brückenstrasse 8 Logistics centre Trans Service Team 8,700
Hamburg Hörgensweg 6 Warehouse Durst Express (sub-let) 8,400
 













New transactions or those occurring in the quarter in this report are highlighted.
 
The next comprehensive market survey will be published on our website at the beginning of 2020.

Press contact

Visitenkarte Xing
Britt Finke


Bleichenbrücke 9
20354 Hamburg

b.finke@grossmann-berger.de

040-350 802 993
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