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Winter 2007-08
European Warehousing Market
- 2007 was a strong year for the logistics industry with high volumes and strong expansion of the logistics services. Depending on the impact of the crisis in the global financial markets and the rising oil prices on consumer and manufacturer. Confidence, the industry growth may face a slowdown in 2008.
- According to the European Commission, world trade growth is expected to remain robust at 7- 7.5% in 2008. EU exporters are expected to continue to benefit from the buoyancy of demand from emerging markets.
- Over 2007, higher take-up volumes were reported in the largest markets in Europe. The focus of retailers in the improvement of their supply chain operation has had a large impact on demand. Consolidation activity has created the need for large-scale accommodation.
- Although there is still a high level of owner occupation and supply is driven by turn-key projects, the development pipeline for speculative schemes is on the rise in the markets with high levels of demand, reflecting positive developer sentiment.
- Limited availability of sites, higher land values and congestion problems close to the major urban centres of Europe has pushed the development of modern distribution centres in alternative locations in neighbouring communities.
- Prime warehousing rents ranged between €35.00/sqm/year and €177.00/sqm/year at the end of 2007 across the markets covered by the report. Average annual prime rental growth for the year was positive at 4.0% and the average prime achievable rent was at €64.55/sqm/year.
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CONTATTI
Eri Mitsostergiou +30 210 699 6311
emitso@savills.com
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