INCREASED NUMER OF LETTINGS, TAKE-UP DRIVERS MISSING
- The result on the Hamburg logistics market at mid-year requires a differentiated view: On the one hand, take-up in the first six months was almost 38 % lower than in the same period of the previous year, totalling around 165,000 m². On the other hand, however, the increased number of registered contracts is a clear indication of the lively market activity, which is not yet reflected in the result.
- There were no deals of 20,000 m² or more, which are usually decisive for high take-up, to achieve a good result. The most significant lettings were the TST Group in Neu Wulmstorf (19,400 m²), a retail company in the port of Hamburg (14,600 m²) and the IGEPA Group in Barsbüttel (13,600 m²). Those three contracts are spread across very different submarkets in the Hamburg market area.
- The development of rents continues to be very dynamic, with the prime rent increasing by almost 14 % to 7.90 €/m² in the last 12 months.
MEDIUM-SIZED SPACE AND RETAIL TENANTS IN THE LEAD
- While major deals have not yet been registered in the first half of the year, contracts in the medium segments between 5,000 and 20,000 m² were market-dominating: Collectively, almost two-thirds of take-up was attributable to categories behind these size segments.
- In terms of sectors, the three most important demand groups each generated comparable shares of take-up, which underlines the high attractiveness of the Hamburg logistics region for very different users. Most of the deals and the highest volume were generated by the wholesale/retail sector, which accounted for one-third of the overall result. However, good market momentum in the smaller and medium-sized segments can also be reported among logistics firms and manufacturing companies, which account for 29 % and almost 27 %, respectively.
- Furthermore, a encouraging aspect is that, particularly in peripheral locations, smaller owner-occupier projects are being initiated repeatedly, contributing 19 % of the total (average for A-cities: 5 %).