Industrial Hamburg 2Q2019

Acute shortage of available real estate produces a very weak half year


Press release | Hamburg
15.07.2019


The weak start to the year continued during the 2nd quarter of 2019 so that by the end of the half year some 60 agreements for take-up of space in Hamburg’s industrial, warehousing and logistics properties totalled 150,000 m². This figure is both 40 % below the same period of last year and the lowest total half-year take-up on record. Figures analysed by Grossmann & Berger, a member of German Property Partners (GPP), reveal that owner-occupiers accounted for some 21,000 m², and their share of take-up thus sank by a full seven percentage points.

“There is still strong market demand. But at present very little space is available at short notice, neither within city limits nor in the environs. No radical improvement is expected in the foreseeable future. It is thus highly unlikely that the final annual result will come close to last year’s figure,” concludes Felix Krumreich, consultant for industrial, warehouse and logistics properties at Grossmann & Berger.

Market details:
•    Short supply has driven premium rents to a new high of €6.20/m²/month. The average rent remained stagnant at € 5.00/m²/month.
•    No agreements were signed in either quarter for more than 10,000 m². In the 1st half year agreements involving 5,000 m² of space or less dominated the market, comprising 58 % of take-up.
•    Eight of the ten biggest transactions in the 1st half of 2019 were signed by firms in the logistics/communications/forwarding sector. Accordingly, this segment of industry dominated the market with 59 % of take-up (88,700 m²).


Industrial, warehousing and logistics proeprty market | Hamburg | 1st and 2nd quarters of 2019

Key figures industrial, warehousing and logistics real estate in Hamburg 2019/Q1-2
Space take-up [m²] 150,000
against prior yr [%] -40
Ratio of owner-occupiers [%] 14
against prior yr [percentage points] -7
Premium rent [€/m²/month net of services] 6.20
against prior yr [%] +5.1
Average rent [€/m²/month net of services] 5.00
against prior yr [%] +2.0
Most popular sub-market Hamburg South
Most popular sub-market [%] 42
Industry with highest turnover Logistics/communications/forwarding
Industry with highest turnover [%] 59


Selected top transactions | industrial, warehousing and logistics properties in Hamburg | 1st and 2nd 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
Bad Oldesloe Rögen 19-27 Logistics complex Hertling Hamburg 9,000
Hamburg Schmidts Breite 15 - TCO Transcargo 8,400
Hamburg 1. Hafenstrasse 11-15 Hall 6 MyCargoLogistics 7,500
Hamburg Rotenhäuser Strasse 16 - Pahlhammer Speditions- und Lagergesellschaft 6,100


An expanded review of the Hamburg market for industrial, warehousing and logistics properties will soon be available in the market survey and may be downloaded from our website.

Press contact

Visitenkarte
Corinna Fühner


Bleichenbrücke 9
20354 Hamburg

c.fuehner@grossmann-berger.de

040-350 802 588
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