TAKE-UP LOWER DUE TO LACK OF LARGE DEALS
- The take-up on the Hamburg logistics market in 2023 must be viewed in a differentiated manner overall: On the one hand, with a total volume of around 272,000 m², neither the previous year's result (-49 %) nor the long-term average (-45 %) were achieved.
- On the other hand, however, it must also be taken into account that the segment of large deals of 20,000 m² or more remained unoccupied for the first time in a long time, meaning that the average take-up in this category of 20 % since 2014 was completely absent in the past 12 months. It is also positive to note that the number of deals reached a comparable level to 2022 with over 70 deals once again. Accordingly, market sentiment in the logistics region of the Hanseatic city is significantly better than is reflected in take-up.
- Rents have continued their upward trend over the last 12 months: The prime rent has cracked the 8 €/m² mark (8.10 €/m²) over the course of the year, while the average rent has remained at a consistently high level (6.25 €/m²).
TOP THREE SECTORS CLOSE TOGETHER IN THE OCCUPIER RANKING
- The nationwide trend that logistics firms in particular were active in the top markets in 2023 in order to successively improve their supply chains in the major metropolitan regions was also evident in Hamburg. Accordingly, the TST Group in Neu Wulmstorf (19,400 m²) and the Nagel Group in Hamburg (15,000 m²) were the two largest deals concluded by logistics firms, accounting for 36 % of take-up overall.
- Although not high take-up in a long-term comparison, several medium-sized and smaller deals were also recorded by wholesale/retail and manufacturing companies. The retail sector contributed 27 %, while the industrial sector accounted for 24 %.
- With the contracts signed by TST, Nagel and Pandora (in Hamburg; 14,800 m²), the three largest deals were in the new-build segment (44 % share). These medium-sized leases also made a decisive contribution to the fact that space between 12,000 and 20,000 m² is at the top of the ranking.