Half year result a resounding success
Whereas 44 % of the take-up of space (2Q2020: 35 %) involved leases for over 10,000 m² of space, the next-largest size segment, 5,001 to 10,000 m², also accounted for the second-largest share of the market at 33 % (2Q2020: 23 %). “Leases for large amounts of space constitute over three quarters of total take-up,” Krumreich remarks.
Considering that the owner-occupier ratio was 11 %, rental take-up was very high at 302,600 m².
The two agreements for the biggest amounts of space previously noted were built-to-suit properties - similar to owner-occupier transactions - and a new contract in this category is at the same time the largest-volume lease to date. In Nützen, near Kaltenkirchen, Panattoni is developing two halls providing 37,700 m² of space and 3,750 m² of offices on behalf of Riess-Ambiente, an online retailer of designer furniture.
The average rent paid by corporate clients for industrial and logistics space in Hamburg and the environs is €5.20/m²/month. This rate is 10 cents/m²/month higher than a year ago. The premium rent rose by the same amount to €6.40/m²/month.
As in 2020, logistics and forwarding companies were still the predominant market players at the end of June 2021. Their share of take-up rose from 42 % to 55 %. In view of the Riess-Ambiente agreement, retail/wholesale accounted for 26 % of take-up, dislodging the manufacturing/industrial/craft trades sector (15 %) from second place.
Unlike the situation a year before, take-up was fairly evenly spread across the three most popular sub-markets. Hamburg East posted 30 % of take-up, North-West Environs and Hamburg South had similar shares of 24 % and 22 % respectively. This distribution also owed much to the two new, large-volume agreements. The share of take-up registered in the environs grew appreciably from 33 % to 44 %.
|Industrial & logistics | Hamburg & environs||2021 | Q1-Q2|
|Space take-up [m²]||340,000|
|against prior yr [%]||+100|
|Ratio of owner-occupiers [%]||11|
|against prior yr [percentage points]||-14|
|Premium rent [€/m²/month net of services]||6.40|
|against prior yr [%]||+1.6|
|Average rent [€/m²/month net of services]||5.20|
|against prior yr [%]||+2.0|
|Most popular sub-market||Hamburg East|
|Most popular sub-market [%]||30|
|Industry with highest turnover||Logistics/forwarding|
|Industry with highest turnover [%]||55|
|Nützen||Kirchenweg 12||“Panattoni Park Hamburg North”, new-build logistics halls||Riess-Ambiente||37,700|
|Hamburg||Vollhöfner Weiden 19||Existing logistics facility||GREIWING logistics for you||29,200|
|Wenzendorf||Otto-Lilienthal-Strasse 1a-d||“Logistikpark Eurolog Rade”, Logistics hall||Confidential||15,500|
|Henstedt-Ulzburg||Rudolf-Diesel-Strasse 11-13||Distribution centre||Boeing Distribution Services||15,400|
|Hamburg||Bredowstrasse 6||New build||Heinrich Dehn Internationale Spedition||15,300|