SLIGHTLY ABOVE-AVERAGE RESULT
- Despite the continuing tense macroeconomic situation, Leipzig's warehouse and logistics market performed strongly in 2023 with a take-up of 323,000 m², which is also significant in a nationwide comparison. Although the very good result of the previous year was missed by almost 19 %, the current result is still around 9.5 % above the long-term average.
- Dynamic developments were recorded in the second (141,000 m²) and third (79,000 m²) quarters of the year, in which over 68 % of take-up was achieved due to a number of major lettings. Worth mentioning in this context are the letting of 86,000 m² by a German premium car manufacturer in Bitterfeld-Wolfen and the start of construction of a BMW logistics centre in Industriepark Nord (35,000 m²). Consequently, the two largest deals in 2023 are in the manufacturing sector.
- Rental prices continued to rise in the fourth quarter. The prime rent stands at 5.90 €/m² (+13.5% year-on-year) and the average rent at 4.95 €/m² (+10 %).
MANUFACTURING SECTOR WITH NEW BEST MARK
- Industrial and manufacturing companies are outperforming their results from previous years with a record market share. It is particularly noteworthy that this sector not only accounts for three of the five largest deals, but also for the most lettings and thus around 56 % of take-up. In addition, logistics firms also account for a significant volume at 27 %. Wholesale/retail companies, which only have one major contract through Picnic (20,000 m²), remain underrepresented at 11 % in 2023.
- While large-volume lettings of at least 20,000 m² traditionally tend to occur in small numbers, four contracts of this size were recorded in 2023. As a result, this category accounts for a slightly above-average share of 44 %. However, this shouldn't obscure the fact that other size categories also achieved above-average results in some cases. Medium-sized contracts between 12,000 and 20,000 m² also recorded an above-average result of just under 25 % (15 % 10-year average).
- While the owner-occupier share of 58,000 m² is around 13 % below the long-term average, the share of new buildings is well above average at around 71 %.