At a Glance Q2 2022

Logistics market Hamburg

Logistikmarkt Hamburg BNPPRE
266,000 m²
TAKE-UP
-20 %
Q2 22 vs. Q2 21
+16 %
IN COMPARISON TO 10-YEAR
AVERAGE

 SECOND BEST MID-YEAR RESULT SINCE 2015

  • With a take-up of 266,000 m², the Hamburg logistics market missed the previous year's record by almost 20 %, still achieving the second-best result since 2015.
  • Despite the economic and geopolitical uncertainties of the past three months, letting dynamic hasn't showed down either: the volume in the second quarter was even higher than at the beginning of the year, at 141,000 m² (a share of 53%).
  • Most remarkable lettings registered in the second quarter include the online furniture retailer SoBuy in Stapelfeld (21,100 m²) and the production company The Quality Group in Nützen (16,600 m²), which represent among others, two larger leases in the peripheral locations of the Hamburg logistics region.
  • Due to the tense supply-demand relation and the sharply rising construction costs, the prime rent (6.95 €/m²) and the average rent (5.50 €/m²) have risen further as well.

LOGISTICS AND RETAIL WITH OVER 40% EACH

  • Both logistics firms and retail companies made a significant contribution to the very good overall result at mid-year, with 46% and 41% respectively.
  • Here the two sectors shared the four largest contracts between them with the deals of logistics firm Ernst Pfaff (Geesthacht, 29,500 m²) and FIEGE (18,500 m²) as well as the retail companies Jysk (21,400 m²) and SoBuy (Stapelfeld, 21,100 m²).
  • The big deals also dominate the market in terms of the size categories in the middle of the year: the size classes above 12,000 m² account for around two thirds of take-up.
  • The fact that large-scale requests can in most cases only be represented in the new construction sector is also underlined by the share of this sector, which currently stands at a good 73 %.

TAKING THE MOMENTUM INTO THE REST OF THE YEAR

OUTLOOK

  • The already high letting dynamic at the beginning of the year was confirmed in the second quarter, so that the Hamburg logistics market can look back on a very good first half of the year despite all the economic and geopolitical uncertainties. 
  • Due to the continuing very tense supply situation, there is an increasing trend towards compromising on location requirements in order to be able to implement large-scale requests in the Hamburg market area at short notice.
  • In terms of prime rents, it can be assumed that the 7 €/m² mark will probably be exceeded in the second half of the year, while the high take-up share of modern space in the total volume will further increase the pressure on average rents.

LOGISTICS MARKET REGION HAMBURG

MAJOR CONTRACS

29,500 m²
Ernst Pfaff
Geesthacht

21,400 m²
Jysk
Hamburg

21,100 m²
SoBuy
Stapelfeld

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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 / Jonas Weinitschke; Fotolia / maxoido