Germany - Hamburg

Hamburg: LOGISTICS MARKET IN HAMBURG Q1 - 2011

Positive take-up trend continues

With take-up of 158,000 m² in Q1, the Hamburg market for logistics and warehouse premises was able to step up its already very good 2010 result by 16 % and achieve its best first-quarter performance for five years. Demand was especially lively in the smaller-unit size class of up to 3,000 m²; this accounted for over 75 % of the more than 60 registered new leases and contributed nearly 45 % to aggregate turnover. Another notable fact is that owner-occupiers generated only a comparatively low share of the total, with just under 16 % (25,000 m²); that also underlines the great dynamism of the rental market. As expected, the business-sector ranking was once again dominated by logistics firms (share: around 55 %). Then came wholesale/retail, with just over 15 %, followed by manufacturing with about 11 %.

Author(s): several

Source: BNP Paribas Real Estate

Published: 18.05.2011