TAKE-UP BELOW LONG-TERM AVERAGE - BUT UPWARD TREND IN THE THIRD QUARTER
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The Leipzig market for warehouse and logistics space achieved take-up of 182,000 m² by the end of the third quarter of 2024. While this is almost a third less than the previous year's strong result, the decline compared to the long-term average is somewhat more moderate at -13%.
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The comparatively subdued result is largely due to the ongoing economic downturn in Germany. Overall, there is still solid demand on the Leipzig market, particularly for modern space in central locations. However, against the backdrop of the current economic uncertainties, many companies are currently delaying their rental decisions.
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Meanwhile, the slight increase in activity in the large-space segment above 10,000 m² in the third quarter can be seen as a positive sign. This was also directly reflected in take-up, which totalled 94,000 m² in the third quarter and was therefore higher than in the two previous quarters. The start of construction of the new logistics centre of owner-occupier Beiersdorf AG in Leipzig-Seehausen alone accounted for 40,000 m² of this total. The largest letting agreement - both in the third quarter and in the current year - was the letting of 17,000 m² by K&S Logistik in Halle.
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Rents have been moving sideways since the end of last year. While the average rent is €5.00 per m², the peak rent stands at €5.90 per m².