Industrial Market Profile Hamburg | 4th quarter 2019 January 2020 Industrial Market Profile | 4th quarter 2019 Hamburg Warehousing Take­up 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 owner­occupiers) in the period from January to December. This was the weakest take­up 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 take­up in the Hamburg region was most evident in the large­scale size category. The volume of take­up of units larger than 5,000 sqm was down by more than a third (­36%) submarket accounted for a quarter of take­up. 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 take­up (47%). gest lettings of the year took place in the industrial port. This Due to the low availability of land, there are few new­build projects to report. At around 90,000 sqm, the supply pipeline in 2019 was around two­thirds 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 take­up in 2020 at the 2019 level. * Coverage includes Hamburg and four surrounding submarkets: North limited by Norderstedt, Quickborn, Kaltenkirchen, Henstedt­Ulzburg; East limited by Bargte­ heide, Ahrensburg, Trittau, Schwarzenbek, Geesthacht; South limited by Lüneburg, Winsen (Luhe), Buchholz, Buxtehude; West limited by Wedel, Uetersen­Tornesch. Industrial Market Profile | 4th 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 Pinneberg 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 Elbe € 4.20 - 5.20 Billbrook-Billwerder-Billstedt 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 Reinbek l A 26 b e Allermöhe Harburg-Hausbruch € 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 | 4th quarter 2019 Hamburg Contacts Frank Weber Helge Scheunemann Head of Industrial Agency Germany 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 Stuttgart 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 jll.de Information regarding JLL and our services jll.de/research All research reports on current market figures and special topics jll.de/immo Commercial real estate properties for sale or to let througout Germany Copyright © JONES LANG LASALLE SE, 2020. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them. Industrial Market Profile | 4th quarter 2019.