At a Glance Q2 2022

Logistics market Cologne

Logistikmarkt Köln BNPPRE
156,000 m²
TAKE-UP
+5 %
Q2 22 vs. Q2 21
+44 %
IN COMPARISON TO 10-YEAR
AVERAGE

ONE OF THE BEST MID-YEAR RESULTS

  • With a take-up of 156,000 m², the Cologne logistics market was able to slightly exceed the already very good result of the previous year after the first six months (+5 %) and achieve the second highest volume in a long-term comparison.
  • In the quarterly analysis, however, market activity in the last three months was somewhat more restrained than at the beginning of the year (Q1: 99,000 m²) at 57,000 m².
  • It is pleasing to note that, at a good 69 %, a high proportion of the take-up was generated in the existing stock segment, even in comparison with the A-cities.
  • The development of rents also continues to be dynamic: The top rent in a 12-month comparison has risen by one euro to 6.80 €/m², while the average rent has meanwhile reached the 5 €/m² mark.

INDUSTRIAL COMPANIES AHEAD IN THE SECTOR RANKING

  • The distribution of take-up among the demand groups is dominated by industrial companies, which achieved above-average results in terms of volume (62,000 m²) and share of take-up (almost 40 %), driven by large contracts.
  • Logistics firms are also more extensively involved in market activities, contributing a good 25 %, while retail companies, traditionally important for Cologne, have so far remained underrepresented with just under 11 % in the first half of the year.
  • In the size categories, in addition to the large lettings of 20,000 m² and more, which are to be mentioned first and foremost (a good 40 % share), the classes in the medium segments between 8,000 and 20,000 m² in particular stand out with above-average contributions. 

PERIPHERAL LOCATIONS IN FOCUS DUE TO SUPPLY SHORTAGE

OUTLOOK

  • The Cologne logistics market benefited from major deals in the first quarter, especially in the industrial sector, and achieved a very good result at mid-year. High demand is also expected for the second half of the year, although this could be slowed down by economic and geopolitical uncertainties.
  • On the supply side, the very limited availability of logistics space in the core area means that demand within the market area is increasingly focussing on peripheral locations such as Pulheim, Kerpen or Frechen. 
  • In the course of the continuing discrepancy between supply and demand, it can be assumed that rents could also increase again in the further course of the year.

LOGISTICS MARKET REGION COLOGNE

MAJOR CONTRACTS

42,500 m²
Manufacturing Company
Cologne

20,300 m²
Production Resource Group
Kerpen

14,600 m²
Computacenter
Kerpen

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Publisher and copyright: BNP Paribas Real Estate GmbH | Prepared by: BNP Paribas Real Estate Consult GmbH | Status: 30.06.2022
Further Information: Christopher Raabe, Head of Logistics & Industrial | Phone +49 (0)40-348 48-0
Photo credits: Adobe Stock / majonit; wagnerfotodesign