For the first time since 2014, more distribution centres are vacant. At the end of 2019, there were 2.75 million square metres of logistics real estate available, up more than 20 per cent from the previous year.
New construction activity in particular contributed to the increase, NVM Business states in its publication Logistic property in figures 2020. There was 1 million square metres of new construction available for sale or lease at the end of last year, an increase of 375,000 square metres. This was partly because relatively many distribution centres were built at risk last year, i.e. without the certainty of pre-letting.
Decline in southern regions
Logistics real estate was in high demand, though. In 2019, 3.2 million square metres were occupied, almost as much as in 2018. It was notable that the southern regions slightly lost popularity, with the province of Noord-Brabant in particular experiencing a sharp increase in vacant and yet-to-be-let distribution centres. South Holland also saw a widening of supply. There was a strong increase in enthusiasm for the west and centre of the country.
Retailers
Retailers accounted for a significant part of the demand. 860,000 square metres of logistics property were occupied by retailers, up from 2018.
