Substantially less new logistics space was delivered in the Netherlands in 2014. 475 thousand m² of new distribution space was built, a drop of no less than 38 per cent compared to a year earlier. This is according to a report by DO Research.
Building without a tenant in place
Just over a third of new-build projects in 2014 were completed for manufacturers (165,000 m²), followed by logistics service providers (140,000 m²) and retailers (115,000 m²). Construction began on approximately 55,000 m² without a tenant having been identified in advance. This mainly concerns the new development by DokVast on the Vossenberg West II industrial estate in Tilburg. This 50,000 m² property has since been let to the American electric car manufacturer, Tesla.
Demand for new-build logistics space to return in 2015
DO Research expects the tide to turn again this year. The recovery of the economy and trade will have a positive effect on demand for logistics space. A slight increase in freight volumes is expected in the Dutch transport sector in 2015. In addition, the volume of planning applications for warehouses and storage facilities submitted in 2014 was higher than in the previous year. Demand for logistics space will therefore rise. As there is hardly any modern distribution space available in the existing building stock, part of this demand will be met by new-build projects. Consequently, more developments will be launched on a risk basis in the coming year. Concrete plans for this already exist in Almere, Amsterdam, Rotterdam and Venlo, amongst other places.
Editorial LogistiekProfs
