Strong demand for logistics real estate
30 m m²
750,000 m² FS
5.10 euros per m²
Flächenbestand & Fertigstellungen
The floor space of modern logistics real estate (construction year ≥ 2008) in the Ruhr Metropolis amounted to some 3.0 m m² at the end of 2017.
The largest offer was found in Duisburg, with approximately 690,000 m², followed by the district of Unna with around 516,000 m² and the district of Wesel with approximately 440,000 m².
Against the background of the well-stocked project pipeline, the floor space in the Ruhr Metropolis should grow to some 4.7 m m² by the end of 2018. In 2018 the district of Recklinghausen will see a marked increase in modern stock due to its large volume of new construction.
In 2017 a total of around 750,000 m² FS of logistics real estate was completed in the Ruhr Metropolis, representing a new peak.
Amongst the finalised projects, the Amazon warehouse in Werne represented the largest volume, with logistics space of around 97,000 m² FS. Further large-volume completions were the Opel Plant 2 in Bochum with 95,700 m FS and the first construction stage of the Arvato logistics centre with approximately 59,000 m² FS at the Interkommunaler Industriepark Dorsten/Marl.
A glance at the well-filled project pipeline reveals that 2018 will also see a high volume achieved in the Ruhr Metropolis, with approximately 725,000 m² FS.
"A total investment of 913 m euros in 2017 positions the logistics segment as third most popular asset category."
Floor space turnover
Floor space turnover for logistics real estate in the Ruhr Metropolis totalled approximately 329,000 m² FS in 2017, falling short of the excellent figures of around 1 m m² for the previous year.
This decline is due to numerous factors. For example, in 2017 there was a marked fall in the conclusion of major completions, for which trading companies in particular were responsible in 2016. In addition, the decline in the start of larger owner-occupier construction projects could also be noted in the statistics.
A further aspect is that the Ruhr Metropolis is also characterised by an increasing shortage of supply for marketable logistics space. Floor space turnover in the region of the 400,000 m² mark is anticipated for 2018.
The peak rent for logistics real estate in the Ruhr Metropolis displayed stable development in 2017, standing at 5.10 euro/m² at the end of the reporting period. This level was achieved by modern properties in Dortmund and, slightly lower, the Port of Duisburg.
In 2018 stable development is anticipated for peak rents. At the end of 2017 the mean average for all sub-markets of the Ruhr Metropolis was marginally above the level of the previous year, at 3.31 euro/m².
The range of rents extends from 3.00 euro/m², the average achieved in Hagen, Hamm, Herne and Witten, to 3.90 euro/m² in Dortmund and Duisburg.
In 2017 a total of 913 m euros was invested in logistics real estate in the investment market of the Ruhr Metropolis, corresponding to a share of around 26 %, positioning the logistics segment as third most popular asset category.
As a consequence, the net initial return for properties in central locations fell 30 basis points by the end of 2017, to 5.3 %. As in the previous year, the highest prices were achieved in Dortmund and Duisburg, followed by Essen with 5.7 % and Bochum with 6.4 %.
In 2018 the prime yields in the Ruhr Metropolis are set to fall again by around 30 basis points, to 5.0 %. The mean net initial return for logistics real estate in decentral locations in the Ruhr Metropolis saw a yield compression of 40 basis points in 2017, to 8.3 %. The net initial return for decentral locations ranges from 6.7 % in Duisburg to 9.4 % in Bottrop.