Annual take-up falls to level last seen in 2008 and 2009
The 5,001 to 10,000 m² segment of the market made up 35 % of the total, ahead of the 3,001 to 5,000 m² size category with a share of 25 %. Leases for premises larger than 10,001 m² accounted for 15 % and thus only the fourth-highest share of total take-up (2018: 38 %).
In 2018 nine agreements in this sector were signed, in 2019 only three. ULD United Logistics & Distribution concluded the largest rental agreement of 2019, taking 30,000 m² of space on Dradenaustrasse, Waltershof. Construction work started on the new head office for WISKA Hoppmann, a shipbuilding & industrial supplier and owner-occupier of the new build on Grashofstrasse in Kaltenkirchen. This was the biggest owner-occupier transaction, the 1st building phase will deliver some 8,800 m² of logistics and manufacturing space.
In 2019, 42 % of space taken up was let for more than €5.51/m²/month (2018: 34 %). Thus both premium and average rents rose, reaching €6.30/m²/month and €5.10/m²/month.
The focus on properties within Hamburg city limits grew even stronger, rising from 61 % of total take-up at the end of 2018 to 73 % in 2019. Accordingly, the three most popular sub-markets were in Hamburg: Hamburg South accounted for 34 %, Hamburg East for 14 % and Hamburg North East for 12 %. Nine of the 20 agreements for more than 5,001 m² related to properties in Hamburg South.
The logistics/communications/forwarding sector returned a very similar result, changing year on year from 55 % to 57 % of the total.
|Industrial, warehouse, logistics | Hamburg | 2019||Q1 -4|
|Space take-up [m²]||355,000|
|against prior yr [%]||-24|
|Ratio of owner-occupiers [%]||15|
|against prior yr [percentage points]||-0.5|
|Premium rent [€/m²/month net of services]||6.30|
|against prior yr [%]||+5|
|Average rent [€/m²/month net of services]||5.10|
|against prior yr [%]||+2|
|Most popular sub-market||Hamburg South|
|Most popular sub-market [%]||34|
|Industry with highest turnover||
|Industry with highest turnover [%]||57|
|Hamburg||Dradenaustrasse 20||Logistics facility||ULD United Logistics & Distribution||30,000|
|Bad Oldesloe||Teichkoppel||New logistics building||E-commerce logistics firm||12,150|
|Kaltenkirchen||Kirchenweg||New logistics building||E-commerce logistics firm||11,350|
|Hamburg||Vollhöfner Weiden 17||Logistics estate (high-bay warehouse)||Nutwork Handelsgesellschaft||9,700|
|Bad Oldesloe||Rögen 19-27||Logistics facility||Hertling Hamburg||9,000|