Catella Research has taken a close look at the European logistics landscape and analysed a total of 109 logistics locations in 104 regions.
Findings from the research include:
• The average prime rent for logistics space is currently €5.35sqm. Compared to the previous year, rents have risen by almost 4% in the past 12 months.
• The rental price range in Europe remains very wide, ranging from the Belgian logistics region of Liège (€3.25sqm) to the most expensive logistics space around London Heathrow (€16.50sqm). • In a country comparison, the logistics regions of the Scandinavian countries, Great Britain, Ireland and Switzerland are almost all above the European average. In comparison: the average top rent in Germany at the end of the first half of 2019 was just €4.99sqm and is thus below the European average.
• The average prime yield of the analysed locations is currently 5.66% and has fallen by 43 basis points compared with the same time last year. This means that the yield gap to European office properties is now only 1.4 percentage points.
• With a current prime yield of 4.00%, the two logistics locations London-Heathrow and Berlin are among the most expensive markets.
• Attractive yield opportunities above 7% can still be found in the Baltic States and Finland.