Industrial Market Profile

Hamburg | 4th quarter 2019 January 2020

Industrial Market Profile | th4 quarter 2019

Warehousing Take-up

Shortage of space slows down take-up of logistics space in Hamburg As expected, given the acute shortage of space, the Ham­ burg* market for logistics and industrial space recorded a modest annual result in 2019. Around 364,000 sqm of ware­ housing space was taken up (including owner-occupiers) in the period from January to December. This was the weakest take-up result since 2008 and fell short of both the previous year’s disappointing result by 23% and the five-year average by 31%. As in other major logistics locations, the de­ cline in take-up in the Hamburg region was most evident in the large-scale size category. The volume of take-up of units larger than 5,000 sqm was down by more than a third (-36%) submarket accounted for a quarter of take-up. The strongest compared to 2018. By December, just three major deals for demand came from companies in the distribution/logistics units larger than 10,000 sqm had been concluded. segment, traditionally the most important group in the With contracts concluded for 30,000 sqm (ULD United Logis­ Hamburg market area, which accounted for almost half of tics & Distribution) and 11,500 sqm (Nutwork), the two lar­ the take-up (47%). gest lettings of the year took place in the industrial port. This Due to the low availability of land, there are few new-build projects to report. At around 90,000 sqm, the supply pipeline in 2019 was around two-thirds down compared to the previ­ Prime Rent ≥ 5,000 sqm ous year. There are also no completions of major projects expected in 2020 that could significantly ease the tension in the market. However, there are expectations of existing space being released onto the market in the coming months which should help maintain take-up in 2020 at the 2019 level.

* Coverage includes Hamburg and four surrounding submarkets: North limited by , Quickborn, , Henstedt-Ulzburg; East limited by Bargte­ heide, , , , Geesthacht; South limited by Lüneburg, Winsen (Luhe), Buchholz, Buxtehude; West limited by , -.

Industrial Market Profile | th4 quarter 2019 Hamburg Hamburg: Industrial Market Areas

Henstedt-Ulzburg

Elmshorn A 21 Periphery North Quickborn € 4.50 - 5.30

Norderstedt A 7 € 4.30 - 5.80 A 23 Norderstedt Ahrensburg Airport / Groß Borstel A 1 Periphery West € 4.10 - 5.80 € 4.00 - 4.80

Hamburg Periphery East Wedel € 4.30 - 5.10 (Holstein) Hamburg-West Elbe € 4.20 - 5.20 Billbrook-- A 24 Elbe € 4.20 - 6.00 N ord er Elb Industrial Port e S

ü € 4.60 - 6.40 d Peute-Obergeorgswerder e

r

E € 4.10 - 5.60 l A 26 b e Allermöhe - € 4.20 - 5.90 € 4.00 - 5.60 A 253 A 25 Buxtehude Neu Wulmstorf

Geesthacht

e lb E A 261 Hittfeld Periphery South € 4.20 - 5.20 Winsen A 250 (Luhe) Buchholz in der Nordheide

Airport Switch Yard Harbour Industrial Market Areas

Main Station Freight Village Market Area Rental Band (Euro/sqm/month) € min - max for warehousing space of all unit sizes (incl. business parks)

Industrial Market Profile | th4 quarter 2019 Hamburg Contacts

Frank Weber Helge Scheunemann Head of Industrial Agency Head of Research Germany [email protected] [email protected] +49 (0) 89 290088 110 +49 (0) 40 350011 225

Industrial Agency Berlin Industrial Agency Munich Industrial Agency Leipzig Rahel-Hirsch-Straße 10 Ludwigstraße 8 Petersstraße 12-14 10557 Berlin 80539 Munich 04109 Leipzig [email protected] [email protected] [email protected] +49 (0) 30 203980 0 +49 (0) 89 290088 0 +49 (0) 341 22633 0

Industrial Agency Frankfurt Industrial Agency Düsseldorf Industrial Agency Bockenheimer Landstraße 55 Dreischeibenhaus 1 Kleiner Schloßplatz 13 60325 Frankfurt 40211 Düsseldorf 70173 Stuttgart [email protected] [email protected] [email protected] +49 (0) 69 2003 0 +49 (0) 211 13006 0 +49 (0) 711 900370 0

Industrial Agency Cologne Industrial Agency Hamburg Augustinerstraße 10 Alter Steinweg 1 50667 Cologne 20459 Hamburg [email protected] [email protected] +49 (0) 221 2775 0 +49 (0) 40 350011 0

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Industrial Market Profile | th4 quarter 2019