STATE OF AFFAIRS INDUSTRIAL PROPERTY MARKET IN 10 MAJOR CITIES 2017

Transcription

1 STATE OF AFFAIRS INDUSTRIAL PROPERTY MARKET IN 1 MAJOR CITIES 17 ALMERE, AMSTERDAM, BREDA, EINDHOVEN, ENSCHEDE, HAARLEMMERMEER, ROTTERDAM, TILBURG, UTRECHT AND VENLO

2 NVM BUSINESS INDUSTRIAL PROPERTY MARKET 17 ALMERE Halfway through the year 17, take-up levels in Almere were almost as high as those measured throughout. It is mainly transaction volumes that continued to grow. Demand for (very) large, modern logistics space has intensified; a trend visible across the country. Demand for industrial space comes from the logistics and trade sectors in the first place, specifically from e-commerce companies. Due to lack of expansion space in Almere, or appropriate lots to accommodate large distribution centres, some companies are now opting for Lelystad and Zeewolde instead. The middle segment is carefully speaking of scarcity in Almere, the more so as far as the owner-occupier segment is involved. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, Vice versa, companies located in the Schiphol region have become more interested in Almere s industrial space. As prices continue to climb in the Schiphol region and with Almere being more accessible (widening the A1 and A6 motorways), today companies are addressing the outskirts, turning Almere into an increasingly attractive business location. Most transactions have taken place on De Vaart business park, where much space is still vacant. The main reason has been the shutdown of Mitsubishi s forklift truck factory, covering over, m². Rents have modestly climbed compared to last year. Incentives have dropped. TAKE-UP BY AREA FROM 1 M 2 STRUCTURAL SUPPLY FROM 7 M 2 44,995 25, % 11% 25% 12% 14% 5% 7% 3% 7% De Vaart Gooisekant Hollandsekant 48% Markerkant Poldervlak De Steiger Hogekant 1 Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Almere 279,89 271, , De Vaart 163,5 138, , , Sallandsekant,3 37, Gooisekant 32,19 29, , Veluwsekant 5,7 7, Hollandsekant 11,155 11, Markerkant 8,645 11, , Poldervlak 8,39 8, , De Steiger 5,195 2, ,75 3 1, Hogekant 1,875 9, ,8 14, ,

3 AMSTERDAM Even though relatively many industrial premises are structurally vacant, the amount of space available continues to drop in the Dutch capital. Developments also involve new buildings. For instance, two major developments have been launched at the Atlaspark (Westpoort) in the first six months of this year. Here, DHL Parcel will realise a new sorting centre of more than 14, m². It is being realised by property developer WDP Nederland. In addition, Borghese has started building a, m² distribution centre half of which has been let out to ITG in. The other half is still available for rent. SUPPLY AND TAKE-UP FROM 7 M 2,,,,,, 1, New properties are also coming about at a smaller scale. For example, in the years to come the Sloterdijk I business park will slowly change into an area with companies, houses, restaurants and recreational facilities coexisting in perfect harmony. Companies choosing or having to leave Sloterdijk take up industrial space elsewhere in Amsterdam. Supply Take-up Average industrial property rents in the city of Amsterdam have climbed modestly during the first six months of 17, because of growing demand. Today modern distribution centres cost about 55 per m², and anywhere between and 1 per m² for small-scale industrial space. Obviously prices depend on location and year of construction TAKE-UP BY AREA FROM 1 M 2 2% 1% Westpoort STRUCTURAL SUPPLY FROM 7 M 2 61,5 17, % 1% 25% 9% 13% 13% 19% 43% Sloterdijk Amstel III/Bullewijk Amsterdam North Amsterdam East (Veemarkt and Cruquius) Amsterdam South East Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Amsterda93,4 258, , Westpoort 71,215 47, ,5 9 3, Sloterdijk 93,5 96, , Amstel III/Bullewijk 51,925 46, ,7 6 1, North 29, 29, , Amstel Business Park 18,1 14, Amsterdam East (Veemarkt and Cruquius) 1,9 3, , Keurenplein 2,555 2, Van Slingelandt 2, 2, Amsterdam-Zuidoost 1, ,1 15, ,

4 NVM BUSINESS INDUSTRIAL PROPERTY MARKET 17 BREDA Entrepreneurs are getting more excited about establishing a business in the city of Breda, evidenced by developments taking place on the industrial property market. Even though take-up levels seem to be down on those reported last year, the number of transactions has climbed indeed. It is mainly local medium-sized and small businesses that need space, focussing on relatively small property. The logistics sector is less interested, with large-scale logistics supply non-existing within the municipality. One exception has been a lot covering a total surface area of 54, m², which is located on the edge of the Werkdonken business park; it offers possibilities for logistics development. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, About % of total industrial property supply has been vacant for a period of three years and beyond. Most of these properties are outdated, relatively small and qualitatively speaking they no longer meet start-ups requirements. Average industrial property rents are about per m². Rents have slightly gone up in the first half of this year. Particularly due to the improved quality of transactions either better quality or more modern in this period TAKE-UP BY AREA FROM 1 M 2 15% STRUCTURAL SUPPLY FROM 7 M 2 45, 22, % 11% 31% 1 1% 3% 8% 31% Werkdonken Emer Krogten Hoogeind Westerhage Heilaar Moleneind East Doornbos Hazeldonk Steenakker Achter-Emer Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Breda 165, , , Werkdonken 25,835 25, Emer 27,9 34, Krogten,775 44, ,55 5 1, Hoogeind 15,3 18, , Westerhage 8,5 18, , Heilaar 1,775 11, , Moleneind East 1,95 9, , Doornbos 5,1 1, Hazeldonk 7, 7, 2 2 2, ,946 Steenakker 7,845 8, , Achter-Emer 3,855 3, , ,9 12, ,

5 EINDHOVEN Several large-scale logistics developments have been launched in the city of Eindhoven during the first six months of this year. In June, Prologis entered the second stage of a new distribution centre (, m²) on behalf of XPO Logistics at GDC North business park. In March, UPS purchased a site for building a package sorting centre of more than, m². Ahold is currently building a 18, m² Home Shop Center (HSC). Furthermore, in the proximity of Eindhoven Airport a campus known as Brainport Industries Campus covering nearly hectares is coming about, one-third of which will welcome industrial buildings. This campus addresses the hightech making industry. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, In terms of small-scale logistics supply, demand is beyond (appropriate) availability. On the non-logistics small-scale industrial property market, an upward purchasing trend is presenting itself. Low interest rates are turning acquisition of premises into something interesting, pushing up the number of owners-users. Average industrial property rents are anywhere between and 55 per m², climbing over the past six months. The lowest rents are charged for the industrial sites known as Rapenland and De Tempel. Despite being one of the oldest sites in the city of Eindhoven, De Hurk is a popular business park given its location within the municipality, its mixed functional profile and easy accessibility. STRUCTURAL SUPPLY FROM 7 M 2 24,65 4, % 3% 15% 3% TAKE-UP BY AREA FROM 1 M 2 8% 8% 2% 1 1% 3% 38% De Hurk (incl. Croy) Kapelbeemd Achtse Barrier Rapenland and Tempel Esp High Tech Campus Achtse Molen 25% Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Eindhoven 258,185 2, , De Hurk (incl, Croy) 75,265 79, , Kapelbeemd 38,51,5 16 3, Acht 25,3 25, Park Forum/Flight forum,185 52, , ,975 43,5 Achtse Barrier 22,5 29, Rapenland and Tempel 8, 1, Esp 5,5 3, , De Kade 8,395 13, ,5 High Tech Campus 7,2 7, Achtse Molen 8,275 8, Doornakkers-West 3,99 4, ,345 15,

6 NVM BUSINESS INDUSTRIAL PROPERTY MARKET 17 ENSCHEDE In Enschede, industrial property take-up in the first half of 17 was featured by lots of sales and small-scale transactions. Both the purchasing trend and growing demand for small industrial space followed from an increase in start-ups combined with today s very low interest rates. Demand for industrial space in the city of Enschede was mainly caused by business activity within the region. In the Twente region mainly in Almelo - opportunities exist for attracting (international) logistics companies, with appropriate plots still being available for large-scale developments. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, Enschede is home to relatively many structurally vacant premises. These are industrial warehouses with a low building height in most cases. These premises today are less interesting because unrestricted height is now permitted. Supply Take-up Current average industrial property rents in the city of Enschede are about per m². Rents are higher for the relatively new industrial site called Josink Es (up to per m²); the latter is mainly home to small-scale industrial property with a relatively large office area. De Slank is charging the lowest rents. This is a relatively old site with lots of industrial activity Rents have slightly gone down in 17, also because many readily marketable properties were taken off the market in. TAKE-UP BY AREA FROM 1 M 2 STRUCTURAL SUPPLY FROM 7 M 2 51,65 14, % 1% 35% 12% 2 2% 2% 4% 9% 5% 24% 27% Bedrijventerrein Enschede West Marssteden De Slank Industrie- and havengebied Westerval Josink Es Getfert West Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Enschede 171,8 175, ,3 33 1,42 Bedrijventerrein Enschede-West 65,39 62, , Marssteden 33,1 43, , ,43 41 De Slank 19,2 18, , Tubantia/Rigtersbleek 3,875 3, Business and Science Park ,5 Industrie- and havengebied 8,255 1, ,35 2 4,517 36,5 Westerval 12,79 11, , Zuiderval 4, 3, Josink Es 7 2, Getfert-West 1,25 12, ,925 13, , ,5

7 HAARLEMMERMEER Relatively few rental transactions have taken place in the first six months of 17. However, building developments are taking place. In March, SEGRO Benelux started building a sustainable distribution centre for the open market part of SEGRO Park Amsterdam Airport (SPAA) - at an industrial site known as De Hoek in Hoofddorp. Somerset Capital Partners has also started constructing a large-scale logistics development at Schiphol Logistics Park. Total development involves the realisation of several high-quality distribution centres covering about 47, m². Stage 1 is scheduled to be ready in October 17; it will be let out to Seko Logistics among other parties. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, Although relatively many new buildings were launched in the past two years, the Schiphol region today still requires modern, high logistic property with heavy floor load capacity. The properties that have been vacant for more than three years, most of which are located on older sites, are often too low, too old or they come with excessive office space. Demand for large-scale business units, particularly within the owner-occupier segment, is slowly growing after several years of saturation. Most of these buildings are taken up by local entrepreneurs with Haarlemmermeer serving as a service area. Average industrial property rents are anywhere between 85 at Schiphol down to 65 for modern premises in the proximity of Schiphol and 55 for premises located on older remote sites. STRUCTURAL SUPPLY FROM 7 M 2 71,95 59, % 32% 19% 9% TAKE-UP BY AREA FROM 1 M 2 3% 9% 7% 18% 1% 3% 14% 37% Schiphol (Schiphol-Rijk, South East, Oude Meer, Skypark) Hoofddorp (De Hoek, North, Graan v Visch and President) Nieuw-Vennep (Spoorzicht, Pionier and South) Airport Businesspark Lijnden PrimA4A Zwanenburg (De Weeren) Badhoevedorp (De Schuilhoeve and Jan v Gentstraat) Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Haarlemmermeer 245,135, , Schiphol (Schiphol-Rijk, Zuidoost, Oude Meer, Skypark) 43,5 98, Hoofddorp (De Hoek, North, Graan v Visch and President) 66,315 61, , Nieuw-Vennep (Spoorzicht, Pionier and South) 78,, ,1 5 2, 45 Airport Businesspark Lijnden 11,5 15, , PrimA4A 11,5 11, , Zwanenburg (De Weeren) 8,7 8, , Badhoevedorp (De Schuilhoeve and Jan v Gentstraat) 2,3 4, Cruquius South 5,15 5, , 14, ,

8 NVM BUSINESS INDUSTRIAL PROPERTY MARKET 17 ROTTERDAM Halfway through 17, fewer industrial properties have been taken up compared to previous years, mainly because there were no major transactions in the western harbour area of Rotterdam. Market sentiment has been positive nevertheless, as is prognosis for the remainder of the year. The lack of (appropriate) logistics supply in the city of Rotterdam is also keeping the number of large-scale transactions low. Non-logistics sectors have been more dynamic during the first half of 17, judging by fluctuating demand from small and medium-sized businesses for small-scale business units. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, The amount of industrial space available has dropped slightly, although at a very low pace. Structural supply levels did climb compared to two years ago. At the moment about one-fifth of total property available has been vacant for more than three years. Supply Take-up Industrial property rents in the city of Rotterdam have been climbing since, especially in the previous year. The changing ratio between large-scale and small-scale transactions however might slightly distort this image: relatively many small transactions have taken place in 17 so far TAKE-UP BY AREA FROM 1 M 2 3% 1% 7% 17% Waalhavengebied Bedrijventerrein Rotterdam North West Spaanse Polder and Kleinpolderplein STRUCTURAL SUPPLY FROM 7 M 2 52,7 16, % 18% 7% 31% 4% 7% 9% 8% 12% (New) Mathenesse, Hordijk East/West Rotterdam The Hague Airport / Hoog-Zestienhoven Nieuwe Gadering, Poort van Charlois Botlek, Europoort, Maasvlakte and De Haak North East (o.a Vlambloem, Prins Alexander, Veilingterrein and Schiebroek) South East (Maaszicht, Veranda, Stadionweg) Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Rotterdam 361, , , Waalhavengebied 54,7 61, , Bedrijventerrein Rotterdam North-West 43,5 47,5 37 3, Spaanse Polder, Kleinpolderplein 62,625 49,4 25 5, (Nieuw) Mathenesse, Hordijk East/West 9,895 11, , Rotterdam The Hague Airport / Hoog-Zestienhoven 9,95 1, ,99 2 1, Nieuwe Gadering, Poort van Charlois 35,8 35, , Westelijk havengebied (Botlek, Europoort, Maasvlakte and De Haak) 78, 71, , 3 4,433 North East (s.a. Vlambloem, Prins Alexander, Veilingterrein and Schiebroek) 11,625 12, , South East (Maaszicht, Veranda, Stadionweg) 19,355 24, ,395 34, ,

9 TILBURG Of the ten municipalities included in this research, Tilburg has had the biggest take-up of industrial property in the first half of 17. The logistics sector has been responsible for most of the transactions; demand for major distribution warehouses is growing and will continue to do so over the coming time. The favourable location within the country and the possibility to carry goods by road, water and rail have turned Tilburg into an interesting logistic hub as far as national and international logistics service providers are concerned. The amount of large plots available in Tilburg is shrinking rapidly, which means that large, cutting-edge distribution centres may just not be feasible here in the future. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, One of the sizeable developments in the city of Tilburg involves Coolblue (online retailer), which is expanding its existing distribution centre by as many as 36, m². In addition, sustainability as well as innovativeness continue to matter when it comes to demand for logistics property. This is one of the reasons relatively many industrial properties are structurally vacant in this city; dated and very small units fail to meet current demand Non-logistics sectors come with different dynamics and also they are less volatile. Take-up of small industrial properties for e.g. companies dedicated to the manufacturing sector is much more challenging. For several years, rents have remained reasonably steady in the city of Tilburg. STRUCTURAL SUPPLY FROM 7 M 2 121,335 57, % 17% 25% 13% TAKE-UP BY AREA FROM 1 M 2 11% Vossenberg 5% Loven Kraaiven Het Laar 21% 58% Kanaalzone Kreitenmolen 3% Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Tilburg 1, , , ,15 Vossenberg 3,115 6, , ,857 De Katsbogten 23,8 23, Loven,5 35, ,9 1 1,9 37 Kraaiven 79,9 76, ,5 11 1, Het Laar 3,415 1, ,5 2 1,774 Kanaalzone 3,6 15, Kreitenmolen 4,3 4, ,55 15, , ,42 45

10 NVM BUSINESS INDUSTRIAL PROPERTY MARKET 17 UTRECHT Utrecht s industrial property market thrived within all segments in 17. Self-employed professionals are once again trusting the economy, ensuring high take-up of small business units. Even though availability of property within Utrecht is not excessive, the number of sales transactions has climbed in this city as well. Supply of (qualitatively appropriate) industrial premises has dropped, however the realisation of new business units is slightly lagging behind in the city of Utrecht. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, Developments have also been taking place within the largescale segment. For instance, the online supermarket Picnic is renting a 35, m² distribution centre at Lage Weide industrial site. Companies unable to settle down at Lage Weide usually opt for industrial site Het Klooster in Nieuwegein. Here, Somerset Capital Partners has started building a distribution centre of about 55, m². Half of the property is being let out to ICT distributor All 4 U. Due to persistent demand for large-scale and modern logistics property, today developers have once again started building premises for the open market more often. Stronger demand and higher take-up of small-scale business units have pushed up average industrial property rents in the city of Utrecht in 17. TAKE-UP BY AREA FROM 1 M 2 7% 14% Lage Weide STRUCTURAL SUPPLY FROM 7 M 2 31,6 18, % 15% 67% Oudenrijn Bedrijvengebied Cartesiusweg De Wetering North Bedrijvengebied Overvecht Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Utrecht 243,5 245, , Lage Weide 126, , ,4 1 2,248 Kanaleneiland,8 22, Oudenrijn 27,7 39,6 28 1, Bedrijvengebied Cartesiusweg 9,5 9, , 2 1, 55 De Wetering North 22,3 23, Bedrijvengebied Overvecht 29,775 22, , ,49 6, ,

11 VENLO The industrial property market in the city of Venlo is a two-faced market. Generally speaking, more activity (lease and sales) has been identified, however industrial property take-up by traditional, non-logistics sectors such as manufacturing and trade has been something of a struggle. The logistics property segment continued to pick up during the first six months of 17, with the thriving e-commerce sector requiring more (very) large properties. Large-scale new developments involve industrial site Trade Port North in the first place. Here, web shop Vida XL is realising a distribution centre over 1, m², Lidl establishes a, m² e-commerce distribution centre. DB Schenker on the other hand is building a multi-user warehouse of about, m², and the Goodman real estate group has completed a new, m² warehouse in addition to its logistics centre. Venlo s advantage in comparison to other logistics hotspots is that it comes with sufficient land for such large-scale developments, even though it is being allocated at a fairly speed. Average industrial property rents in the city of Venlo have modestly climbed during the first six months, particularly due to increased demand for high-quality and customised property. Average rents are anywhere between 35 and 45 per m², depending on contract duration. SUPPLY AND TAKE-UP FROM 7 M 2,,, 1, TAKE-UP BY AREA FROM 1 M 2 7% 2% Trade Port West STRUCTURAL SUPPLY FROM 7 M 2 46,6 11, % 24% 2% 12% 72% Venlo Trade Port Noorderpoort/De Veegtes Geloërveld Ubroek Fresh Park Venlo Kaldenkerkerweg Supply in Number of properties Take-up Median rent in Number of properties Average transaction size /17 Venlo 219, , ,4 13 4, Trade Port West 52,45 67, , 1 1,. Venlo Trade Port 18,935 35, ,5 2 21,93. Noorderpoort/De Veegtes 18,135 1, Trade Port East 13, 12, Geloërveld 11,9 11, Ubroek 18,965 19, Fresh Park Venlo 695 6, , , Kaldenkerkerweg 3,6 5, ,3 2 1, Trade Port North 53,5 22, ,49 25, ,9 2 1,969 31

12 DEFINITIONS INDUSTRIAL PROPERTY A spatial and independent unit mainly used for production and storage in the construction, transportation and logistics sectors as well as light and heavy industries and wholesale trade. Mixed office and industrial buildings are included provided the industrial part exceeds % of the entire complex. TAKE-UP Lease and sales transactions taking place on the open market. Users providing for their own accommodation requirements (the so-called owner-occupier development) are not included in the take-up volumes. The same applies to saleand-leaseback agreements as well as contract extensions. NVM registers transactions starting at 1 m². nor space yet to be built. Supply includes vacant and developing space as well as space that is still being used but which is to be released in the near future. NVM registers supply of buildings starting at 1 m². RENT The basic rent obtained for each square metre of lettable floor area, exclusive of Dutch VAT. In order to calculate the average rent obtained per square metre per year, NVM has looked at properties covering 1 m2 and beyond. INCENTIVE Removal allowance, fitting-out allowance or a (temporary) rent discount that the owners offers the lessee. SUPPLY Industrial space immediately available for rent or sale. Supply does not include industrial space in the preparatory phase Brought to you by: Member of NVM (Dutch Association of Real Estate Brokers) About NVM Business NVM is the largest association of real estate agents and property valuers in the Netherlands. Based on educational programmes and research, it has been effectively supporting its members and representing their interests towards the authorities and political circles. The NVM Business expert group specialises in commercial property offices, industrial buildings, retail stores and catering establishments and consists of real estate agents who stand out because of their extensive knowledge of the regions in which they operate. By means of continuous professionalisation and the promotion of integrity, NVM Business seeks to become an authority when it comes to commercial property in the Netherlands. Any information provided in this report has been put together with the utmost care. Nevertheless, NVM Business cannot guarantee its completeness and does not accept any liability regarding its correctness. NVM Business Fakkelstede HZ Nieuwegein Telephone: +31 () This publication has come about thanks to the contribution of: Bedrijfshuisvesting (Almere), Blaauwhof Makelaars (Amsterdam), Van der Sande Makelaars (Breda), BT Makelaars (Haarlemmermeer), Colliers International (Eindhoven), Klotz Bedrijfshuisvesting (Tilburg), Ooms Makelaars Bedrijfshuisvesting (Rotterdam), Snelder Zijlstra Bedrijfsmakelaars (Enschede), Waltmann Bedrijfshuisvesting (Utrecht) and Hauzer & Partners (Venlo). COLOPHON September 17 Composed by Klaartje Asselbergs Data source NVM Data & Research, Nieuwegein Design PROOF internal & employer branding Photography Paul Bradbury - Hollandse Hoogte