Demand for logistics property has never been higher than in the past year. Both companies and investors searched en masse for distribution centres and large-scale warehousing spaces.
In its pubication Logistic property in figures 2018, NVM Business states that 3.1 million square metres of logistics property was sold last year. Almost 2.2 million square metres related to new construction, a clear increase compared to the previous year. In the south of the country - as in other years - demand for logistics property was highest. In North Brabant, for instance, more than 800,000 square metres were put into operation.
Increase in let property
Besides higher demand for new construction, the market was also characterised by an increase in the number of rented spaces. In the total take-up of logistics property, the share of rented spaces exceeded 75 per cent.
The available supply of distribution centres and large-scale warehousing hardly decreased. This is partly because investors and investors took more risk with real estate; buildings were built without a tenant in advance. At the end of 2018, about 2.33 million square metres were available for rent and sale. Of this, 725,000 square metres consisted of new construction.
Buildings are vacant for less time
NVM called it positive that the structural or long-term supply was down 35 per cent last year. The supply situation showed large regional differences. While North Holland was faced with a sharp increase in vacant distribution centres, North Brabant saw a sharp drop in the number of available metres.
Rental prices stable
The development of supply and demand had little effect on rents, which remained stable overall. Only in the Rotterdam and Eindhoven regions did average rents go up slightly.
