Industrial Market Hamburg 2Q2019: Acute shortage of available real estate produces a very weak half year

Hamburg, 15.07.2019Press release

Take-up of space Industrial/warehouse/logistics Hamburg 2Q2019. Source: Grossmann & Berger GmbHThe weak start to the year continued during the 2nd quarter of 2019 so that by the end of the half year some 60 agreements for take-up of space in Hamburg’s industrial, warehousing and logistics properties totalled 150,000 m². This figure is both 40 % below the same period of last year and the lowest total take-up on record. Figures analysed by Grossmann & Berger, a member of German Property Partners (GPP), reveal that owner-occupiers accounted for some 21,000 m², and their share of take-up thus sank by a full seven percentage points.

“There is still strong market demand. But at present very little space is available at short notice, neither within city limits nor in the environs. No radical improvement is expected in the foreseeable future. It is thus highly unlikely that the final annual result will come close to last year’s figure,” concludes Felix Krumreich, consultant for industrial, warehouse and logistics properties at Grossmann & Berger.  


Market details:  

  • Short supply has driven premium rents to a new high of €6.20/m²/month. The average rent remained stagnant at € 5.00/m²/month.
  • No agreements were signed in either quarter for more than 10,000 m². In the 1st half year agreements involving 5,000 m² of space or less dominated the market, comprising 58 % of take-up.
  • Eight of the ten biggest transactions in the 1st half of 2019 were signed by firms in the logistics/communications/forwarding sector. Accordingly, this segment of industry dominated the market with 59 % of take-up (88,700 m²).


Industrial, Warehousing and Logistics Property Market |
Hamburg | 1st and 2nd Quarters of 2019
 

Key figures industrial, warehousing and logistics real estate in Hamburg 

2019/Q1-2 

Space take-up [m²] 

150,000

against prior yr [%]

-40

Ratio of owner-occupiers [%] 

14

against prior yr [percentage points]

-7

Premium rent
[€/m²/month net of services] 

6.20

against prior yr [%]

+5.1

Average rent
[€/m²/month net of services] 

5.00

against prior yr [%]

+2.0

Most popular sub-market 

Hamburg South

Most popular sub-market [%]

42

Industry with highest turnover 

Logistics/communications/forwarding

Industry with highest turnover [%]

59

 

Selected Top Transactions
Industrial, Warehousing and Logistics Properties in Hamburg | 1st and 2nd Quarters of 2019
 

City 

Road/street 

Property/project 

Tenant/owner-occupier 

Floor area 

[ca. m²]

Hamburg

Vollhöfner Weiden 17

Logistics estate (high-bay warehouse)

Nutwork Handelsgesellschaft

9,700

Bad Oldesloe

Rögen 19-27

Logistics complex

Hertling Hamburg

9,000

Hamburg

Schmidts Breite 15

-

TCO Transcargo

8,400

Hamburg

1st Hafenstrasse 11-15

Hall 6

MyCargoLogistic

7,500

Hamburg

Rotenhäuser Strasse 16

-

Pahlhammer Speditions- und Lagergesellschaft

6,100

 

An expanded review of the Hamburg market for industrial, warehousing and logistics properties will soon be available in the market survey and may be downloaded from our website. 

Press contact


Corinna Fühner

Bleichenbrücke 9
D-20354 Hamburg
Phone +49 (0)40/350 80 2-588
Fax +49 (0)40/350 80 2-200
Email c.fuehner@grossmann-berger.de
Internet www.grossmann-berger.de

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