LACK OF SUPPLY SLOWS DOWN TAKE-UP
The series of weak take-up continued in the second quarter. In total, the Cologne logistics and warehouse space market recorded a result of only 57,000 m² in the first half of the year. This was the lowest outcome ever recorded. The weakness of the total result is also reflected in the fact that it is 57% below the comparable figure of the previous year and that the ten-year average was also undercut by almost 45%. The decisive reason for the unusually low take-up, which has been recorded for several quarters now, is a lack of supply, especially in the large-scale market segment. This is underlined by the fact that in the comparable period of the last two years, significantly more than one third of the result was attributable to large contracts with more than 12,000 m², whereas this market segment is not yet occupied. The Cologne market therefore has to deal with the same problems as other large logistics agglomerations. The shortage of land, combined with rising land prices and increasing competition from other uses, make project developments hardly possible.
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