Logistics firms boos letting business
Between July and September an additional four agreements for more than 10,001 m² of space were signed. The number of agreements in this size category doubled within the space of a year to twelve. Contracts involving over 10,001 m² accounted for 45 % of the market (3Q2020: 54 %) and the next-smaller category, 5,001 to 10,000 m², comprised 33 % of the total (3Q2020: 18 %).
Despite the low proportion of owner-occupiers, three of the nine large-volume agreements mentioned earlier were construction starts. For example, building started on a new computer centre for akquinet, a sale brokered by Grossmann & Berger in 2020, on the VICTORIA PARK HAMBURG industrial estate in Rahlstedt, to provide 10,300 m² of hall space and 3,600 m² of office space.
Most agreements fell into two price groups; rents of over €5.51/m²/month made up 32 % of the market, and rates between €4.51/m²/month and €5.00/m²/month accounted for 26 %. Accordingly, the premium rent rose to a new high of €6.50/m²/month, while the average rent remained unchanged at €5.20/m²/month.
Since ten of the twelve large-volume contracts were signed by logistics & forwarding companies (8) and wholesale/retail enterprises (2) these two sectors of industry accounted for 84 % of the take-up of space. Logistics firms accounted for a share of 52 % and wholesale/retail for 32 %.
Year on year, a trend towards locating within city limits has become apparent and market activity here has risen from 44 % to 63 %. The sub-market Hamburg East accounted for 36 % of take-up due to two new contracts, which have brought its total of large-volume agreements to four. Hamburg South and the North West Environs followed with about a fifth of the market each.
|Industrial & logistics | Hamburg & Environs||2021 | Q1-Q3|
|Space take-up [m²]||496,000|
|against prior yr [%]||+36|
|Ratio of owner-occupiers [%]||15|
|against prior yr [percentage points]||-38|
|Premium rent [€/m²/month net of services]||6.50|
|against prior yr [%]||+3.2|
|Average rent [€/m²/month net of services]||5.20|
|against prior yr [%]||±0.0|
|Most popular sub-market||Hamburg East|
|Most popular sub-market [%]||36|
|Industry with highest turnover||Logistics & forwarding|
|Industry with highest turnover [%]||52|
“Panattoni Park Hamburg North”,
new-build logistics halls
|Hamburg||Vollhöfner Weiden 19||Existing logistics facility||GREIWING logistics for you||29,200|
|Hamburg||Pinkertweg 5||New build logistics centre||Group7 (pwner-occupier)||26,000|
“Logistikpark Eurolog Rade”,