TAKE-UP REMAINS BELOW STRONG PREVIOUS YEAR'S RESULT
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After nine months, the Cologne logistics market achieved a take-up of 118,000 sqm, which is around 42% below the high result achieved in the previous year. Due to the continuing challenging economic conditions, companies’ drive to conclude contracts remains hesitant at present, with the result that significantly fewer contracts were recorded than in previous years. However, it should also be noted that the amount of space available at short notice in many locations, especially central locations, is far from sufficient to meet current demand at short notice.
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Compared with other major logistics hubs, Cologne is the only market to record a decline in take-up year-on-year, but unlike the other markets, the city also recorded very strong take-up in 2024 (Q1-3 2024: 204,000 sqm). Nevertheless, the current interim result is 29% below the ten-year average.
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The largest contracts to date were singed by e-commerce firm Sellvin in q3 for 24,500 sqm in an existing building and by logistics service provider Dachser for 23,300 sqm in a new building in the q2..
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Despite comparatively low market activity, the prime rent rose to €7.90 per sqm in q3 reflecting the limited supply of space in central locations within the market area. The average rent has remained unchanged at €6.30 per sqm.