Dutch companies are making higher and different demands on logistics real estate, increasing the need for new construction. This trend will also increase the vacancy rate of existing logistics real estate, predicts Bureau Stedelijke Planning.
In 2015, a total of 1.2 million square metres of logistics property was taken up, a 30 per cent increase from a year earlier. The number of square metres taken up was not this high since 2007. This is said to be mainly due to an increase in demand for new construction. According to BSP, new construction in logistics is in demand due to trends such as economies of scale and e-commerce. As a result, existing logistics property would no longer meet the current requirements of end users. This is largely in the size of buildings. Eighty per cent of logistics property investments in 2015 were in logistics buildings with an area of 30,000 square metres or more. In 2011, this was still half. Most of the properties on offer had an area of 5,000 to 10,000 square metres, while large-scale logistics buildings were in high demand.
Not only the size matters but also the format. For instance, the building should preferably be rectangular. Moreover, the desired building heights of real estate (at least 10 to 20 metres) are increasing because of the possibility of fast order processing and efficient storage of goods. For instance, three quarters of logistics companies want a clear height of at least 10 metres, while only half of the supply meets this requirement. Scale is a key competitive advantage for companies to operate effectively and efficiently. "Our expectation is therefore that structural supply will increase further in the coming years. New construction is often the only option to meet demand. This is also an important reason why redevelopment of existing logistics real estate is difficult to get off the ground," explains Bureau Stedelijke Planning.
Editorial LogistiekProfs
