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Belgium : New highs - Q4 2013

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A research produced by DTZ

Belgium : New highs - Q4 2013

Record quarterly take-up of 219,000 sq m in Q4 propels semi-industrial activity to a record year in 2013 with a total of 702,000 sq m. This is the result of strong demand in each region, hence numerous deals, as well as many deals for spaces larger than usual.

Logistics real estate was also subject to a record quarter, with a strong boost for the year received in Q4: 364,000 sq m - or half the annual total.

The record logistics quarter included this year’s largest deals, of which the letting of 80,000 sq m by bpost of the Carcoke site in Neder-Over-Heembeeck, and the 40,000 sq m extension by Nike for its EMEA DC in Meerhout.

These two deals also boost the level of grade A buildings take-up which grew beyond expectations despite perceived lack of supply which was overcome thanks to many grade A deals being committed developments.

The Belgian semi-industrial and logistics prime rents remain for 2013 are EUR 55/sq m/year (found in Antwerp and Flemish Brabant), and EUR 46/sq m/year (in the Brussels district) respectively. The prime semi-industrial rent could increase in 2014. Average weighted rents were EUR 41/sq m/year for semi-industrial buildings, and EUR38/sq m/year for logistics spaces in Q4.

Source : DTZ (Groupe UGL)

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Keywords : DTZ