Building starts for large developments boost quarterly result
Four agreements for premises offering more than 10,000 m² of space boosted the quarterly result to 195,000 m². This was higher than any other 3rd-quarter result apart from in 2011 and 2012. In contrast, not one single large-volume agreement was signed in the same quarter a year ago. Accordingly, the size sector of 10,000 m² or more accounted for the largest slice of the market, 54 %.
One single agreement for 86,500 m² dominated the quarterly result, comprising more than a quarter of total take-up of space. This transaction was the long-planned construction start of a logistics and administrative centre for REWE in Henstedt-Ulzburg, which will be the company’s base to supply food retailers in Hamburg and Schleswig-Holstein. Moreover, in terms of space, this development is the second-largest deal ever undertaken in Hamburg and its environs.
In contrast with the previous year, trade/retail was the predominant industry, accounting for 38 % of take-up and ousting logistics and forwarding companies from the top slot; their share fell to 30 % (2019: 51 %).
So far, as a result of the REWE project now under construction, North-West Environs was the strongest sub-mark
et with 30 % of the volume of take-up. For the same reason there was a marked shift in the focus of marketing activities in the 3rd quarter towards the environs, whose share of the market rose from 31 % to 56 % year on year.
Industrial, warehouse, logistics | Hamburg and Environs | 2020 | Q1-3 |
Space take-up [m²] | 365,000 |
against prior yr [%] | +48 |
Ratio of owner-occupiers [%] | 53 |
against prior yr [percentage points] | 35 |
Premium rent [€/m²/month net of services] | 6.30 |
against prior yr [%] | ±0.0 |
Average rent [€/m²/month net of services] | 5.20 |
against prior yr [%] | +4.0 |
Most popular sub-market | North-West Environs |
Most popular sub-market [%] | 30 |
Industry with highest turnover | Trade/retail |
Industry with highest turnover [%] | 38 |
Selected top agreements | industrial, warehouse, logistics properties in Hamburg and Environs | 1st to 3rd quarters of 2020
City | Road/street | Property/project | Tenant/owner-occupier |
Floor area [ca. m²] |
Henstedt-Ulzburg | Rudolf-Diesel-Strasse | Logistics and administrative centre (construction start) | REWE Region North (owner-occupier) | 86,500 |
Hamburg | Am Genter Ufer | New build (construction start) | Airbus (owner-occupier) | 30,600 |
Hamburg | Am Altenwerder Kirchtal 1-5 | Existing building | Spedition Mickeleit | 28,400 |
Neu Wulmstorf | Gottlieb-Daimler-Strasse | New build (construction start) |
Kroop & Co. Transport + Logistik (owner-occupier) |
22,500 |
Bad Oldesloe | Bergkoppel 4 | Central warehouse (construction start) | Asklepios Kliniken (owner-occupier) | 14,400 |
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b.finke@grossmann-berger.de