Hamburg Warehouse and Logistics MarketView

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Hamburg Warehouse and Logistics MarketView"

Transcription

1 Warehouse and Logistics MarketView H2 212 GDP Q4 GER -.6% Q-o-Q GDP Q3 GER +.2% Q-o-Q IFO BUSINESS CLIMATE INDEX 15.2 Jan. 212 Global Research and Consulting GFK CONSUMER CLIMATE INDEX 5.7 Jan. 212 UR HH 7.6 % Jan. 212 OVERVIEW 1 Quick Stats 212 J/J Take-up thereof H1 212 thereof H2 212 Share of owneroccupier Hot Topics 565,5 sq m 241,6 sq m 323,9 sq m Economic slowdown due to euro-crisis reaches logistics location Letting take-up 212 significantly below the very good result of 211 but nevertheless third best result since 25 As the gateway to the world for Germany s export trade, s port further strengthens its position and is likely to profit from increasing world trade in 213 Letting markets should further stabilise in 213 demand for logistics space is boosted by the online shopping and fashion retail sector Demand for modern warehouse and logistics properties by institutional investors to increase further 33.6% Prime rent 5.7 sq m Prime yield 6.5% Investment volume 14bn Take-up decreases year-on-year With a take-up of 565,5 sq m of warehouse and logistics spaces, the overall volume decreased by around 25% compared to the previous year. The decline can be mainly attributed to the lack of high-quality and basic warehouse and logistics spaces as well as low vacancies and few project developments. Share of owner-occupier increases further The share of owner-occupied take-ups increased by 4%-points to around 34% compared to the previous year. The result was mainly driven by the sale of an around 3, sq m large logistics property to Wellensteyn in Norderstedt as well as the newly developed 25, sq m large PCH Packing Center in Wilhelmsburg. Stable prime rents due to high demand Prime rents for modern warehouse and logistics properties with prime fitout and location qualities remained stable at 5.7/ sq m/month yearon-year. Above average completion volume With 161,9 sq m of warehouse and logistics space, the completion volume of was around 1% above the long-term average (26-212). Investment volume decreases due to lack of adequate assets Investments into the asset class warehouse/logistics/production decreased by around 22% to 14m compared to the previous year. -Waltershof: Container Terminal Burchardkai

2 Q1 2 Q1 21 Q1 22 Q1 23 Q1 24 Q1 25 Q1 26 Q1 27 Q1 28 Q1 29 Q1 21 Q1 211 Q Oct-7 Jan-8 Apr-8 Jul-8 Oct-8 Jan-9 Apr-9 Jul-9 Oct-9 Jan-1 Apr-1 Jul-1 Oct-1 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 H2 212 Warehouse and Logistics MarketView Market environment After a good start to the year, the German economy significantly lost momentum towards the end of the year and Chart 1: Seafreight rate indices contracted by.6%-points compared to the third quarter BDI according to official statistics. The economic growth of one Index =1 of the world s leading export nations was particularly slowed 14, down by the global economic downturn and the financial Baltic Dry Index ConTex 12, crisis in Europe although Germany was able to defy most turbulences caused in the context of the euro-crisis. 1, Germany s largest port,, was confronted with decreasing demand in Germany s import sales market, 8, particularly China. Hence, not only container handling 6, declined by 1.7% to 8.9 million TEU compared to the previous year but also cargo rates in container shipping 4, (ConTex), which had started declining mid-year. Although China registered with 7.8% the weakest economic growth 2, since 1999 in the past year, first indicators point to a fast recovery. The Chinese purchasing managers' index increased for the third month in a row (December 212: 56.1 points) and the lateral movement of the Baltic Dry Index, reflecting the development of cargo rates for dry bulk Source: Baltic Exchange, Shipbroker s Association (VHSS e.v.) (e.g. ores, coal, building materials), also indicate a turnaround of economies worldwide. According to the Chart 2: Port of economic barometer of the Chamber of Container handling volume Commerce 38.6% of all interviewed companies from the German wholesale and foreign trade sector assesses their 1. current state of business increasingly positive. A greater part 9. of all interviewed companies (53.3%) assumes that business outlooks will remain more or less unchanged compared to 8. the current situation, whereas 22.6% see clear signs of 7. growth and 24.1% are less optimistic. Only 2.6% of all Average container handling volume 6. ( ): 5.28 million TEU companies from the export industries assume that export will decrease, whereas 35.3% expect a recovery. The 5. outstanding ruling of the Federal Administrative Court in 4. regard to the deepening of the shipping channel of the River Elbe, which is expected by the end of this year, will also 3. have a significant impact on the local economy. 2. Furthermore, the expansion of the Central Terminal Steinwerder is not to be expected before 22 due to the 1. lease renewal of the Buss group.. ConTex Index =1 1,2 1, Source: Port of Chart 3: Balance 6 s economy barometer Economic sector: Wholesale / export Investment planning Staff planning Economic situtation Economic outlook Source: Chamber of Commerce

3 Chart 4: 1, sq m Take-up Environs Urban area Greater Chart 5: Prime rents Pan-European comparison /sq m/month Annual average (25-211): 492,7 sq m Take-up With a take-up of 565,5 sq m in 212, the market for warehouse and logistics properties saw an above average result. Compared to the record result of the previous year, however, take-up declined by around 25%. Nevertheless, the second half of the year proved to be more dynamic with a take-up of almost 324, sq m, compared to the first six months of 212; a development that might indicate the turnaround of the economy. The majority of all letting transactions (62%) were registered in itself. Due to a number of single lettings by Navigare Schifffahrts GmbH, 18% of the overall take-up (11,8 sq m) was generated in the Billbrook/ Gewerbegebiet submarket. It was followed by the traditionally strong Harburg/Süderelbe submarket with a share around 17.5% (99, sq m), where predominately large lettings in the second half of the year such as by DSV Solutions GmbH (33, sq m) or Spedition Mickeleit (2, sq m) contributed to the submarkets good year-end result. Considering the Greater area, Norderstedt registered, with a share of 22%, the highest take-up. The largest transaction 212 was the purchase of an around 3, sq m large logistics property owner-occupied by Wellensteyn International GmbH in the first half of the year. While the overall number of transactions declined by 3% compared to the previous year, the average warehouse and logistics space let per transaction increased by 8% to 3,9 sq m. Areas for subletting are only of minor importance in the current market; the further economic developments remains to be seen. In addition to medium-term lettings (up to five years), an increase of short-term lettings (up to two years) has already been observed. H2 212 Warehouse and Logistics MarketView Barcelona Lisbon Rotterdam Warsaw Chart 6: Prime rents Comparison Germany München Frankfurt Dusseldorf Amsterdam Helsinki Paris Ile-de-France Valencia Rents The second half of 212 did not see a reversal of the rental price development for warehouse and logistics properties in European logistics centres. While rents further decreased in Southern Europe, Helsinki in Northern Europe registered a slight increase of rents by +.3% year-on-year. Prime rents in the metropolises Paris ( 7.5/sq m/month) and ( 5.7/sq m/month) remained unchanged on the level of the previous year. Despite the lateral movement in the demand for premium areas in prime locations remains high. However, due to the decreasing stock of appropriate warehouse and logistics space, the pressure on prime rents is increasing. Thus, in some locations of the market area first rental prices increase have been registered. 3 Berlin /sq m/month

4 H2 212 Warehouse and Logistics MarketView Completions and pipeline With around 162, sq m completed warehouse and logistics space, the increase in 212 was not as high as in the previous year but still significantly above the long-term average. It, however, becomes apparent that the supply of space is gradually running short. First signs of a similar development are noticeable in the submarkets of the Greater Area. This development is, amongst others, a result of declining numbers of speculative project developments. For 213, however, the pipeline shows first signs of improvement. As things stand, around 225, sq m of new spaces will be added to the warehouse and logistics market, of which, albeit, 92,5 sq m or around 41% are already pre-let or owner-occupied and thus not available on the market. INVESTMENT While the overall volume invested in German warehouse and logistics properties increased from around 9m in 211 to approximately 1.65bn in 212, the investment volume in declined considerably by 22% to around 14m. However, the declining transaction volume cannot be attributed to a waning attractiveness of as investment location. In fact, the demand for suitable investment products by institutional investors has even increased and more dynamic investment activities were only impeded by the lack of available modern, premium and space efficient warehouse and logistics properties. Despite the pressure on demand in regard to investment properties in the warehouse, transport and distribution logistics sector, prime yields remained unchanged at 6.5%. Only Berlin registered a further decline of prime yields by 25 basis points year-on-year. Thus, net initial yields for core products in all five large German logistics centres are at 6.5%. Furthermore, institutional investors are increasingly interested in warehouse and logistics properties as means of risk diversification for their investment portfolios. Particularly special funds are focusing on this asset class. Chart 7: 1, sq m Chart 8: Completions and pipeline Prime yield and transaction volume* million % Annual Average (26-211): 147, sq m Annual Average: (23-211): 141,4m Transaction volume* (million ) Prime yield (%) *Investment volume for city area + environs (list of municipalities belonging to market area see page 5/6) 213F Completed Spekulative Pre-let Owner-occupied Outlook The German economy is only expected to gather significant momentum mid-year 213 and even higher dynamics are only expected for the following year. Nevertheless, a fast recovery is anticipated due to the currently further stabilising situation in the Euro-zone, Germany s most important sales market. The ifo-index for Germany increased in January 213, particularly due to the positive expectations of the interviewed experts in the Euro-zone, for the third time in a row to a present 14.2 points. It also indicates an increased optimistic mood of the interviewed companies in Germany. Real growth of the German economy for 213 is expected to reach.7% and will be mainly driven by strong domestic demand at the beginning of the year which will compensate for the initially weak export sector. Based on these projections we expect that this year s logistics take-up in will develop similarly as in the previous year.

5 Submarket Urban Area Environs Greater Cumulated take-up 212 sq m Future supply sq m Prime rent /sq m/month 351,6 13, ,9 125, ,5 229,3 5.7 H2 212 Warehouse and Logistics MarketView 5

6 H2 212 Warehouse and Logistics MarketView For more information about this MarketView, please contact: Research Germany Dr. Jan Linsin Senior Director Head of Research Germany Bockenheimer Landstr Frankfurt t: e: Frank Sgonina Analyst Valentinskamp t: e: Agency Industrial Frank Freitag Director, Head of Industrial/Logistics Valentinskamp t: e: Logistics Investment Jan Koch Associate Director, Logistics Investment Valentinskamp t: e: + FOLLOW US GOOGLE+ FACEBOOK 6 Disclaimer Information herein has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the market. This information is designed exclusively for use by GmbH clients, and cannot be reproduced without prior written permission of GmbH.

Berlin Office MarketView

Berlin Office MarketView Berlin Office MarketView Q2 213 GDP Q1 GER +.1% Q-o-Q GDP Q4 GER -.6% Q-o-Q IFO BUSINESS CLIMATE INDEX 1.9 June 213 CBRE Global Research and Consulting GFK CONSUMER CLIMATE INDEX 6. June 213 UR BER 11.6%

More information

Dusseldorf Office MarketView

Dusseldorf Office MarketView Dusseldorf Office MarketView 214 Q3 GDP 214 Q2.2% Q-o-Q GDP 214 Q1 +.7% Q-o-Q IFO BUSINESS CLIMATE INDEX 14.7 Sept. 214 CBRE Global Research and Consulting BA-X 17 Sept. 214 UR DUS 8.6% Sept. 214 1 Quick

More information

Frankfurt Office MarketView

Frankfurt Office MarketView Frankfurt Office MarketView Q3 214 Quick Stats Q3 214 GDP Q2 214.2% Q-o-Q Q-o-Q Take-up 97, sq m Vacancy 1.34m sq m Prime rent 38. /sq m Prime yield 4.7% GDP Q1 214 +.7% Q-o-Q IFO BUSINESS CLIMATE INDEX

More information

Warehouse & Logistics Market MarketView Germany

Warehouse & Logistics Market MarketView Germany Warehouse & Logistics Market MarketView Germany Feb 2013 GDP Q4 GER -0.6% q-o-q GDP Q3 GER +0.2% q-o-q IFO BUSINESS CLIMATE INDEX 107.4 Feb. 2013 CBRE Global Research and Consulting GFK CONSUMER CLIMATE

More information

Warehouse and Logistics Market MarketView Germany

Warehouse and Logistics Market MarketView Germany Warehouse and Logistics Market MarketView Germany Spring 2014 CBRE Global Research and Consulting GDP Q4 GER Q/Q + 0.4 % GDP Q3 GER Q/Q + 0.3 % IFO INDEX M/M 110.7 Mar 2014 10Y BUND Q/Q 1.52 % Mar 2014

More information

Warsaw Office MarketView

Warsaw Office MarketView Warsaw Office MarketView H1 213 CBRE Global Research and Consulting OFFICE STOCK 4. M SQ M OFFICE VACANCY 1.5% OFFICE TAKE-UP 334, SQ M COMPLETION 152, SQ M UNDER CONSTRUCTION 7.8% Y-O-Y GENERAL OVERVIEW

More information

Property Times Europe Q3 2010 Short supply improves rental outlook

Property Times Europe Q3 2010 Short supply improves rental outlook 1999 2000 2001 2002 2003 2004 2005 2006 2007 2011 2012 2013 2014 Property Times Europe Short supply improves rental outlook 19 October Contents Overview 1 Market Statistics 2 Office Market Overview 3 Outlook

More information

Warsaw Office MarketView

Warsaw Office MarketView Warsaw Office MarketView Q4 212 CBRE Global Research and Consulting OFFICE STOCK 3.9 M SQ M OFFICE VACANCY 8.8% OFFICE TAKE-UP 68,5 SQ M COMPLETION 268, SQ M UNDER CONSTRUCTION.2% Y-O-Y GENERAL OVERVIEW

More information

European office rental struggle amidst subdued demand

European office rental struggle amidst subdued demand The Jones Lang LaSalle Office Property Clock - Q2 2012 European office rental struggle amidst subdued demand The European rental index records a second successive modest fall (-0.2%) The European vacancy

More information

Rebound after a slow start

Rebound after a slow start DTZ Research PROPERTY TIMES Rebound after a slow start Europe Office Q2 2015 28 August 2015 Contents Take-up 2 New office supply 3 Vacancy ratio 4 Prime office rents 5 Outlook 6 Definitions 7 3 million

More information

UK Prime Rents and Yields MarketView

UK Prime Rents and Yields MarketView Q 2 Q1 2 Q1 2 Q 2 Q2 2 Q1 2 Q 2 Q 2 Q2 2 Q 2 Q2 211 Q 212 UK Prime Rents and Yields MarketView CBRE Global Research and Consulting RENTS - RISERS 2 YIELDS - FALLERS RENTS - FALLERS YIELDS - RISERS ACCELERATING

More information

Stable demand and limited completions on the Viennese office market in Q2 2016

Stable demand and limited completions on the Viennese office market in Q2 2016 Vienna Office, Q2 2016 Stable demand and limited completions on the Viennese office market in Q2 2016 10.85m sq m 6,000 sq m 61,000 sq m 6.0% 26.00/sq m/month Compared to Q2 2015 Figure 1: Office market

More information

European office market recovery continues but at varying speeds

European office market recovery continues but at varying speeds The Jones Lang LaSalle Office Property Clock Q2 2013 European office market recovery continues but at varying speeds European Prime Office Rental Index continues upward trend Aggregate European leasing

More information

Yield Compression is evident in the prime end of the market

Yield Compression is evident in the prime end of the market MARKETVIEW Helsinki Metropolitan Area (HMA) Office, Q4 2014 Yield Compression is evident in the prime end of the market 0.9% (Nov Y-o-Y) 1.0% (2014 Y-o-Y) 8.8% (Dec) QUICK STATS ECONOMIC OVERVIEW Q4 2014

More information

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe EMEA Office July 2015 LARGE OFFICE SPACE Where to find 5,000 sq m in Europe HIGHLIGHTS The availability of large office premises has reduced by 12% year-on-year Choice is limited - only 19% of options

More information

Good opening quarter. DTZ Research PROPERTY TIMES. Europe Industrial Q1 2015. Contents. Contact

Good opening quarter. DTZ Research PROPERTY TIMES. Europe Industrial Q1 2015. Contents. Contact DTZ Research PROPERTY TIMES Good opening quarter Europe Industrial Q1 215 June 215 Contents Contents 1 Economic climate 2 Occupier market 3 Investment market 4 Yields 5 Definitions 6 The European economy

More information

Retail investment drops to 10 billion in Q1 following five quarters of exceptional turnover

Retail investment drops to 10 billion in Q1 following five quarters of exceptional turnover 2008.1 2008.2 2008.3 2008.4 2009.1 2009.2 2009.3 2009.4 2010.1 2010.2 2010.3 2010.4 2011.1 2011.2 2011.3 2011.4 2012.1 2012.2 2012.3 2012.4 2013.1 2013.2 2013.3 2013.4 2014.1 2014.2 2014.3 2014.4 2015.1

More information

Investment Market Overview. Germany I 2 nd quarter of 2014 Published in July 2014

Investment Market Overview. Germany I 2 nd quarter of 2014 Published in July 2014 Investment Market Overview Germany I 2 nd quarter of 2014 Published in July 2014 JLL Investment Market Overview July 2014 2 Strong momentum on the German investment market The German investment market

More information

UK commercial property prime rental values continue to increase.

UK commercial property prime rental values continue to increase. MARKETVIEW UK Prime Rent and Yield, UK commercial property prime rental values continue to increase. 164 3 23 6 *Arrows indicate change from previous quarter. Prime rental values increased by 1.3% in,

More information

Outlook for European Real Estate in 2013. Mark Charlton, Head of Research & Forecasting

Outlook for European Real Estate in 2013. Mark Charlton, Head of Research & Forecasting Outlook for European Real Estate in 2013 Mark Charlton, Head of Research & Forecasting Tuesday 20 th November 2012 Europe - uncertainty continues to buffet sentiment Oct 06 Oct 07 Oct 08 Oct 09 Oct 10

More information

European office sector recovery continuing Divergence in speed and strength remains

European office sector recovery continuing Divergence in speed and strength remains The Jones Lang LaSalle Office Property Clock Q3 2013 European office sector recovery continuing Divergence in speed and strength remains European Office Rental Index decreases q-o-q Aggregate European

More information

RESEARCH PERIODICAL THE ECONOMIC OUTLOOK FOR LONDON

RESEARCH PERIODICAL THE ECONOMIC OUTLOOK FOR LONDON RESEARCH PERIODICAL THE ECONOMIC OUTLOOK FOR LONDON Report prepared for the City of London Corporation by Oxford Economics Published April 2013 Overview The outlook suggests that London is expected to

More information

Luxembourg Office MarketView

Luxembourg Office MarketView Luxembourg Office MarketView Q4 2012 CBRE Research & Consulting 2012 GDP 0,5% TAKE-UP 169.000 m² PRIME RENT 40 EUR/m²/mth PIPELINE 64.000 m² VACANCY RATE 6,08% PRIME YIELD 5,5% 2012 CATCHES UP DURING THE

More information

EMEA Office MarketView

EMEA Office MarketView EMEA Office MarketView 2014 CBRE Global Research and Consulting EMEA PRIME YIELD 7.9 BPS EU-28 VACANCY RATE 0.02 PP EMEA PRIME RENT 0.3% EMEA CAPITAL VALUE 1.8% TAKE-UP 17% TAKE-UP STILL SUBDUED BUT SOME

More information

European office sector recovery gains momentum

European office sector recovery gains momentum The Jones Lang LaSalle Office Property Clock Q4 2013 European office sector recovery gains momentum European Office Rental Index increases q-o-q Aggregate European leasing volume up 18% on Q3 Completions

More information

Caracas Office MarketView

Caracas Office MarketView Caracas Office MarketView CBRE Global Research and Consulting SALE PRICE CLASS A 45.03% VACANCY CLASS A 15.81% LEASE RENT CLASS A 36.21% NEW SUPPLY 0 sq. m. *Arrows indicate changes from previous quarter.

More information

The Logistics Market in Italy H1 2012

The Logistics Market in Italy H1 2012 The Logistics Market in Italy H1 2012 2012 emerging as the most difficult year for the Italian economy since the beginning of the crisis, with a severe contraction of both consumption and industrial production

More information

European Retail Guide. Shopping Centres March 2012

European Retail Guide. Shopping Centres March 2012 European Retail Guide Shopping Centres March 2012 // Introduction These challenging markets for retail property present a special opportunity to be well positioned for the recovery that will come. We

More information

Helsinki Metropolitan Area (HMA) Office MarketView

Helsinki Metropolitan Area (HMA) Office MarketView Helsinki Metropolitan Area (HMA) Office MarketView Q3 2014 CBRE Global Research and Consulting GDP -0.6% (Y-o-Y) CPI 1,3% (Y-o-Y) UNEMPLOYMENT RATE 8,2% (Sep) HELSINKI OFFICE MARKET - SALES VOLUME IS IMPROVING

More information

Midtown South Manhattan Office MarketView

Midtown South Manhattan Office MarketView Midtown South Manhattan Office MarketView CBRE Global Research and Consulting LEASING ACTIVITY 1.1 MSF NYC UNEMPLOYMENT RATE (DEC. 1) 7.5% NYC OFFICE EMPLOYMENT (DEC. 1) 1,6, U.S. GDP CHANGE (Q 1) 4.1%

More information

Searching for returns: real estate investors take profits

Searching for returns: real estate investors take profits Hamburg, 14 September 2015 Investor survey: Searching for returns: real estate investors take profits - International pressure to invest opens up selling opportunities - Trend towards higher risk and cross-border

More information

Outlook for Australian Property Markets 2010-2012. Perth

Outlook for Australian Property Markets 2010-2012. Perth Outlook for Australian Property Markets 2010-2012 Perth Outlook for Australian Property Markets 2010-2012 Perth residential Population growth expected to remain at above average levels through to 2012

More information

Recovery in UK property to gain momentum. Recovery in UK property market to gain momentum. Research & Strategy. June 2013. Economic growth recovering

Recovery in UK property to gain momentum. Recovery in UK property market to gain momentum. Research & Strategy. June 2013. Economic growth recovering Research & Strategy Recovery in UK property to gain momentum June 13 Recovery in UK property market to gain momentum This hasn t been a typical recession and it won t be a typical recovery. Nevertheless

More information

GDP growth. annual % change. Source: European Commission. Total employment growth. annual % change. Source: European Commission.

GDP growth. annual % change. Source: European Commission. Total employment growth. annual % change. Source: European Commission. Economy Economy According to the latest European Commission (EC) forecasts for the Greek economy, economic activity is estimated to continue to grow at well above the Euro area average at around 3.% in

More information

The Vietnamese Real Estate Market (in minutes)

The Vietnamese Real Estate Market (in minutes) The Vietnamese Real Estate Market (in minutes) What is really happening? Presented by: ADAM BURY Senior Manager, Research & Consulting CB Richard Ellis (Vietnam) Co., Ltd. Wednesday 21 st March, 2012 What

More information

Current Issues Note 27 Central London office market through the recession By Yeukai Muchenje and Nick Ennis

Current Issues Note 27 Central London office market through the recession By Yeukai Muchenje and Nick Ennis Current Issues Note 27 By Yeukai Muchenje and Nick Ennis copyright Greater London Authority November 2010 Published by Greater London Authority City Hall The Queen s Walk London SE1 2AA www.london.gov.uk

More information

DTZ Foresight Europe Fair Value Q1 2012 Germany and UK holding firm

DTZ Foresight Europe Fair Value Q1 2012 Germany and UK holding firm Germany and UK holding firm 29 May 2012 Contents Fair value highlights 2 Economic context 3 Market classifications 4 Office market forecasts 5 Retail market forecasts 6 Industrial market forecasts 7 Authors

More information

Commercial Property Newsletter

Commercial Property Newsletter Commercial Property Newsletter November 2010 Inside: Irish Commercial Property Commentary UK Commercial Property Commentary - Irish Life UK Property Fund Information European Commercial Property Commentary

More information

Lisbon Office Market Outlook. 4th Quarter 2009

Lisbon Office Market Outlook. 4th Quarter 2009 (data on ) Contacts: Pedro Pimentel pedrop@prea.pt 214406420 Research & Market Analysis Dept. www.prea.pt Outlook Following a major downturn in economic performance office space demand continues to be

More information

Unaudited Nine Months Financial Report

Unaudited Nine Months Financial Report RECRUITING SERVICES Amadeus FiRe AG Unaudited Nine Months Financial Report January to September 2015 Temporary Staffing. Permanent Placement Interim Management. Training www.amadeus-fire.de Unaudited Nine

More information

Record office take-up Investment market remains dynamic

Record office take-up Investment market remains dynamic Berlin Market Report OFFICE LEASING AND INVESTMENT Q1 2016 Record office take-up Investment market remains dynamic Margit Lippold Director Research Office leasing Office take-up (in 1,000 sqm) including

More information

Renminbi Depreciation and the Hong Kong Economy

Renminbi Depreciation and the Hong Kong Economy Thomas Shik Acting Chief Economist thomasshik@hangseng.com Renminbi Depreciation and the Hong Kong Economy If the recent weakness of the renminbi persists, it is likely to have a positive direct impact

More information

London Market Snapshot October 2015 10/15

London Market Snapshot October 2015 10/15 London Market Snapshot October 2015 10/15 Global Macro Overview Global equities experienced their sharpest falls since 2011, with most major markets moving into correction territory (a fall of more than

More information

Global Real Estate Outlook

Global Real Estate Outlook Global Real Estate Outlook August 2014 The Hierarchy of Economic Performance, 2014-2015 China Indonesia India Poland South Korea Turkey Australia Mexico United Kingdom Sweden United States Canada South

More information

Leasing and investment market off to a lively start in 2016

Leasing and investment market off to a lively start in 2016 Düsseldorf Market Report Office Leasing and Investment Q1 2016 Leasing and investment market off to a lively start in 2016 Lars Zenke Director Research Düsseldorf Office Leasing The Düsseldorf office leasing

More information

EMEA Office MarketView

EMEA Office MarketView EMEA Office MarketView 20 CBRE Global Research and Consulting EMEA PRIME YIELD 7.6 BPS EU-27 VACANCY RATE 0.11 PP EMEA PRIME RENT 0.5% EMEA CAPITAL VALUE 1.9% TAKE-UP 9.6% EMEA OFFICE MARKETS SET FOR IMPROVEMENT

More information

CB RICHARD ELLIS RESEARCH AND CONSULTING. Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS

CB RICHARD ELLIS RESEARCH AND CONSULTING. Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS CB RICHARD ELLIS RESEARCH AND CONSULTING Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS August 2010 TABLE OF CONTENTS Foreword 4 Introduction 5 Corporate Tax Rates 6 Rents

More information

HAMBURGER HAFEN UND LOGISTIK AG

HAMBURGER HAFEN UND LOGISTIK AG HAMBURGER HAFEN UND LOGISTIK AG ANALYST CONFERENCE ON 2013 FINANCIAL YEAR RESULTS Hamburg, 27 March 2014 Hamburger Hafen und Logistik AG Agenda Chairman of the Executive Board Annual Financial Statements

More information

POLAND - THE MOST ATTRACTIVE INVESTMENT MARKET IN THE CEE REGION

POLAND - THE MOST ATTRACTIVE INVESTMENT MARKET IN THE CEE REGION POLAND ON TOP 2016 POLAND - THE MOST ATTRACTIVE INVESTMENT IN THE CEE REGION A solid economic background and a stable political situation in Europe have boosted investments in the real estate markets.

More information

METRO GROUP increases sales 2012 in a challenging consumer environment

METRO GROUP increases sales 2012 in a challenging consumer environment METRO GROUP increases sales in a challenging consumer environment Sales rose by 1.2% to 66.7 billion (adjusted for portfolio measures: +2.3%); EBIT before special items reached around 2.0 billion Operating

More information

Atradius Country Report

Atradius Country Report Atradius Country Report Poland January 2013 Gdansk Warsaw Lodz Krakow Overview General information Most important sectors (% of GDP, 2011) Capital: Warsaw Services: 63 % Government type: Parliamentary

More information

Industrial occupiers respond to economic headwinds

Industrial occupiers respond to economic headwinds EMEA Corporate Occupier Conditions - Industrial - December 2011 Industrial occupiers respond to economic headwinds Year-to-date take-up is ahead of the equivalent period last year but there are now signs

More information

The Office Market Frankfurt/Main

The Office Market Frankfurt/Main CB RICHARD ELLIS MARKET VIEW Frankfurt/Main OFFICE MARKET Q3 28 Overview The Office Market Frankfurt/Main Take-up almost at last year s level Marginal increase in vacancy Higher demand for middle price

More information

Development activity is limited and will probably remain so for some time as developers are facing financing constraints for speculative schemes.

Development activity is limited and will probably remain so for some time as developers are facing financing constraints for speculative schemes. Luxembourg Offices www.cbre.lu/research Quick Stats Take-up Vacancy Developments Rents Yields Hot Topics Evolution Q4 10 Q3 11 The office real estate market has performed very well in 2011, achieving a

More information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS ORANGE COUNTY INDUSTRIAL SECOND QUARTER 216 QUICK STATS Direct Vacancy 2.6% Overall Vacancy 2.7% Lease Rate NNN $.82 Gross Absorption Under Construction MARKET TRENDS Current Quarter 3,969,645 SF 41,668

More information

HAMBURGER HAFEN UND LOGISTIK AG. RESULTS JANUARY SEPTEMBER 2013 Analyst Conference Call, 13 November 2013

HAMBURGER HAFEN UND LOGISTIK AG. RESULTS JANUARY SEPTEMBER 2013 Analyst Conference Call, 13 November 2013 HAMBURGER HAFEN UND LOGISTIK AG RESULTS JANUARY SEPTEMBER 2013 Analyst Conference Call, 13 November 2013 1 Disclaimer The facts and information contained herein are as up to date as is reasonably possible

More information

DTZ Foresight European Fair Value Q3 2010 Non-core markets drive temperature rise

DTZ Foresight European Fair Value Q3 2010 Non-core markets drive temperature rise DTZ Foresight European Fair Value Q3 Non-core markets drive temperature rise 18 November Contents Overview 1 Fair Value Index 2 Fair Value Classifications 3 European Market Classifications 4 European versus

More information

Market Commentary Canberra Office

Market Commentary Canberra Office Market Commentary Canberra Office November 2015 Executive Summary A further strengthening in the Canberra office market has been recorded over 3Q15 with a total of 9,300 sqm of positive net absorption.

More information

Schroder Property Multi-let industrial estates: more than just your average manufacturer

Schroder Property Multi-let industrial estates: more than just your average manufacturer Schroder Property Multi-let industrial estates: more than just your average manufacturer July 201 For professional investors and advisers only Introduction Eleanor Jukes, Senior Property Research Analyst

More information

Contents. Economy Investment Office...5. Industrial Summary Q Summary Q Prognosis... 4

Contents. Economy Investment Office...5. Industrial Summary Q Summary Q Prognosis... 4 Czech Republic MARKET OVERVIEW Q1 2016 Contents Economy... 3 Summary Q1 2016... 3 Investment... 4 Summary Q1 2016... 4 Prognosis... 4 Office...5 Summary Q1 2016... 5 Prognosis... 6 Industrial... 7 Summary

More information

Frankfurt dominates Q1 activity in Europe

Frankfurt dominates Q1 activity in Europe Supply MW Take-up MW MARKETVIEW European Data Centres, Q1 215 Frankfurt dominates Q1 activity in Europe +2.4% +4.5% 16.3MW European Colocation Supply & Take-up as at Q1 215 9 8 7 6 5 Supply Take-up Forecast

More information

Sentiment among Analysts Hits All-Time Low

Sentiment among Analysts Hits All-Time Low Press Release The Dr. ZitelmannPB Real Estate Stock Barometer Sentiment among Analysts Hits All-Time Low Berlin, May 24, 2011 The sentiment among analysts for real estate stock keep deteriorating. This

More information

interim report 2004June 30, 2004

interim report 2004June 30, 2004 interim report 2004June 30, 2004 Macroeconomic trends In the first quarter of 2004, the euro-area economy grew 0.6% sequentially. This represented a faster pace of growth than in the previous quarters.

More information

Union Investment Institutional Property GmbH Dr. Christoph Schumacher Managing Director. How and where to invest in Germany the asset manager s view

Union Investment Institutional Property GmbH Dr. Christoph Schumacher Managing Director. How and where to invest in Germany the asset manager s view Union Investment Institutional Property GmbH Dr. Christoph Schumacher Managing Director How and where to invest in Germany the asset manager s view Tel Aviv, 15 June 2015 Who is Union Investment? 2 A few

More information

Office Leasing and Investment

Office Leasing and Investment MarkEt REPORT Berlin 214/215 Office Leasing and Investment Accelerating success, Office leasing Berlin STATISTICS Population 3,422, Unemployment rate 11.1 % Employees paying social security contributions

More information

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8%

Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% IR release 2 November 2015 Commerzbank: Operating profit improved after nine months of 2015 to EUR 1.5 bn CET 1 ratio increased to 10.8% Operating profit in Group in third quarter at EUR 429 m (Q3 2014:

More information

EUROPE S LEADING ONLINE FASHION DESTINATION Q3 2015 Earnings Call 12 November 2015

EUROPE S LEADING ONLINE FASHION DESTINATION Q3 2015 Earnings Call 12 November 2015 EUROPE S LEADING ONLINE FASHION DESTINATION Q3 2015 Earnings Call 12 November 2015 Results highlights and business update 1 ACCELERATING GROWTH THROUGH TARGETED INVESTMENTS Strong Growth revenue accelerates

More information

Lisbon Office Market Outlook. 1st Half

Lisbon Office Market Outlook. 1st Half 1st Half www.prea.pt Summary and Outlook In Spring the 3 year bailout plan was concluded with a clean exit and official registered success by major entities: EU, ECB and IMF. Major austerity measures are

More information

QSC AG. Company Presentation Results Q3 2009. Cologne, November 9, 2009 9.11.09

QSC AG. Company Presentation Results Q3 2009. Cologne, November 9, 2009 9.11.09 QSC AG Company Presentation Results Q3 2009 Cologne, November 9, 2009 1 9.11.09 AGENDA 1. Financial Results Jürgen Hermann, Chief Financial Officer 2. Operational Update & Outlook Dr. Bernd Schlobohm,

More information

HAMBURGER HAFEN UND LOGISTIK AG

HAMBURGER HAFEN UND LOGISTIK AG HAMBURGER HAFEN UND LOGISTIK AG ANALYSTS CONFERENCE ON FULL YEAR 2008 RESULTS 31 MARCH 2009 Hamburger Hafen und Logistik AG DISCLAIMER The facts and information contained herein are as up to date as is

More information

[German Hotel Market 2014]

[German Hotel Market 2014] A further record year In 2014 overnight statistics in Germany rose by 3 % to an interim high of approx. 424 m. While overnights in 2013 had primarily been accounted for by international visitors, in 2014

More information

West End of London Office Property Market Outlook

West End of London Office Property Market Outlook September 2011 West End of London Office Property Market Outlook Mark Callender, Head of Property Research, Schroders By contrast with the pedestrian recovery of the overall UK economy, the West End of

More information

March 2016 CAPITAL VIEWS EMEA RETAIL INVESTMENT TRENDS

March 2016 CAPITAL VIEWS EMEA RETAIL INVESTMENT TRENDS March 2016 CAPITAL VIEWS EMEA RETAIL INVESTMENT TRENDS MARCH 2016 CAPITAL VIEWS: RETAIL INVESTMENT TRENDS Buoyant year-end for retail driven by Germany and the Nordics Retail was the fastest growing sector

More information

European logistics gaining momentum

European logistics gaining momentum PROPERTY TIMES European logistics gaining momentum European Industrial & Logistics 2016 14 March 2016 Contents Economic climate 2 Occupier market 3 Investment market 5 Yields 6 Definitions 7 Author Massinissa

More information

Group Financial Outlook and Strategy. Mark Langer, CFO Paris, November 19, 2014

Group Financial Outlook and Strategy. Mark Langer, CFO Paris, November 19, 2014 Investor Day 2014 Group Financial Outlook and Strategy Mark Langer, CFO Paris, November 19, 2014 HUGO BOSS 19-Nov-14 2 Agenda Review of past financial performance Current trading update Financial implications

More information

Hanoi Quarterly Report

Hanoi Quarterly Report Market Insights from CBRE s Hanoi Quarterly Report Presented by: CBRE RESEARCH & CONSULTANCY Richard Leech Executive Director Thanh Tran Senior Manager CB Richard Ellis (Vietnam) Co., Ltd. October 13 th

More information

Research & Forecast Report OFFICES H1 2016

Research & Forecast Report OFFICES H1 2016 Research & Forecast Report OFFICES H1 2016 DEALS MAP 2015 by > 10.000 m² 5.000-10.000 m² 2.000-5.000 m² 1.000-2.000 m² < 500 m² A5 CASCAIS Z 6 PONTE 25 ABRIL Z 2 Z 3 AMOREIRAS AV. 24 CAMPO GRANDE MARQUÊS

More information

Real Estate Clients. For more information on HSH Nordbank Hypo s business, please refer to pages 58 and 59.

Real Estate Clients. For more information on HSH Nordbank Hypo s business, please refer to pages 58 and 59. 31 Real Estate Clients HSH Nordbank is one of the most sought-after providers of finance on the German real estate market. Backed by our extensive specialist skills in financial services for all aspects

More information

UK Private and Commercial Landlord Insurance 2016

UK Private and Commercial Landlord Insurance 2016 UK Private and Commercial Landlord Insurance 2016 UK Private and Commercial Landlord Insurance 2016 Sector Publishing Intelligence Limited (SPi) has been marketing business and market research reports

More information

Unaudited Half Year Financial Report January June 2013. Creating career prospects and deploying targeted professional skills.

Unaudited Half Year Financial Report January June 2013. Creating career prospects and deploying targeted professional skills. Creating career prospects and deploying targeted professional skills Amadeus FiRe AG Unaudited Half Year Financial Report January June 2013 Unaudited Half Year Financial Report, January June 2013 1 Unaudited

More information

PREMIUM TRAFFIC MONITOR APRIL 2014 KEY POINTS

PREMIUM TRAFFIC MONITOR APRIL 2014 KEY POINTS PREMIUM TRAFFIC MONITOR APRIL 2014 KEY POINTS Growth in the number of passengers traveling in premium seats on international markets increased by a solid 3.8% in April compared to a year ago, which is

More information

The Nordics experience a confident start of the year

The Nordics experience a confident start of the year 21 21 21 21 211 211 211 211 212 212 212 212 215 Nordic Investment MarketView, 215 The Nordics experience a confident start of the year 2-4 3 Chart 1: Investment volume Europe and Nordics 21 215, ( mn)

More information

Unaudited Financial Report

Unaudited Financial Report RECRUITING SERVICES Amadeus FiRe AG Unaudited Financial Report Quarter I - 2015 Temporary Staffing. Permanent Placement Interim Management. Training www.amadeus-fire.de Unaudited Amadeus FiRe Group Financial

More information

ING OFFICE FUND Acquisition of Bastion Tower, Brussels and Institutional Placement of $70.0m

ING OFFICE FUND Acquisition of Bastion Tower, Brussels and Institutional Placement of $70.0m ING OFFICE FUND Acquisition of Bastion Tower, Brussels and Institutional Placement of $70.0m 1 November 2007 0 DISCLAIMER NOT FOR DISTRIBUTION OR RELEASE IN THE UNITES STATES OR TO U.S. PERSONS This presentation

More information

MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan

MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan MBA Forecast Commentary Lynn Fisher, Mike Fratantoni, Joel Kan Stronger Data Lead to Upward Revisions in Purchase Originations Forecast for 2015 and 2016 MBA Economic and Mortgage Finance Commentary: July

More information

Spain s Real Estate and Construction Markets. Think Tank of Deutsche Bank Group

Spain s Real Estate and Construction Markets. Think Tank of Deutsche Bank Group Spain s Real Estate and Construction Markets Think Tank of Deutsche Bank Group 1 2 3 4 Overall Macroeconomic Environment Real Estate Markets Construction Activity Concluding Remarks 1 Overall Macroeconomic

More information

German Housing Companies Invest Heavily in Existing Portfolios

German Housing Companies Invest Heavily in Existing Portfolios 16 April 2015 German Housing Companies Invest Heavily in Existing In the last five years spending on maintenance and refurbishment climbed significantly among the 20 largest German housing companies. The

More information

Q2 2015. Dubai Real Estate Market Overview

Q2 2015. Dubai Real Estate Market Overview Q2 2015 Dubai Real Estate Market Overview Dubai Market Summary Dubai s real estate market saw little change in the second quarter, with the slowdown in performance across all asset classes continuing,

More information

Postbank Group Interim Management Statement as of September 30, 2013

Postbank Group Interim Management Statement as of September 30, 2013 Postbank Group Interim Management Statement as of September 30, 2013 Preliminary Remarks Macroeconomic Development Business Performance Preliminary Remarks This document is an interim management statement

More information

X. INTERNATIONAL ECONOMIC DEVELOPMENT 1/

X. INTERNATIONAL ECONOMIC DEVELOPMENT 1/ 1/ X. INTERNATIONAL ECONOMIC DEVELOPMENT 1/ 10.1 Overview of World Economy Latest indicators are increasingly suggesting that the significant contraction in economic activity has come to an end, notably

More information

PRAGUE RESIDENTIAL MARKET

PRAGUE RESIDENTIAL MARKET RESEARCH PRAGUE RESIDENTIAL MARKET MARKET OVERVIEW 15/H1 5 7 8 9 1 11 1 13 Jan 1 Feb 1 March 1 April 1 May 1 June 1 July 1 August 1 Sept 1 Oct 1 Nov 1 Dec 1 Jan 15 Feb 15 March 15 April 15 May 15 June

More information

Hotel Market Germany MarketView

Hotel Market Germany MarketView Hotel Market MarketView 2012 CBRE Hotels / CBRE Global Research and Consulting GDP Q4 GER 0.6% Q-o-Q GDP Q3 GER +0.2% Q-o-Q IFO INDEX 104.2 Jan 2013 10Y GOV BONDS 1.67% Jan 2013 UR GER 7.4% Jan 2013 OVERVIEW

More information

To refer to the key figures as you read, please fold out the next page.

To refer to the key figures as you read, please fold out the next page. Semi-Annual Report 2006 KFW BANKENGRUPPE. Development of operations. In the first half of 2006 the volume of financing commitments made by KfW Bankengruppe was, at EUR 33.3 billion, 45 % higher than in

More information

Q1 / 2015: INTERIM REPORT WITHIN THE FIRST HALF-YEAR OF 2015. Berentzen-Gruppe Aktiengesellschaft Haselünne / Germany

Q1 / 2015: INTERIM REPORT WITHIN THE FIRST HALF-YEAR OF 2015. Berentzen-Gruppe Aktiengesellschaft Haselünne / Germany Q1 / 2015: INTERIM REPORT WITHIN THE FIRST HALF-YEAR OF 2015 Berentzen-Gruppe Aktiengesellschaft Haselünne / Germany Securities Identification Number 520 163 International Securities Identification Numbers

More information

European Supply Pipeline (as a percent of stock)

European Supply Pipeline (as a percent of stock) CB RICHARD ELLIS MARKET VIEW EMEA Offices FOUTH QUARTER 26 Occupier demand was strong across the region in the final quarter of 6, showing a 27 increase in take-up on Q4 25. The strong leasing market resulted

More information

Eurozone. EY Eurozone Forecast September 2013

Eurozone. EY Eurozone Forecast September 2013 Eurozone EY Eurozone Forecast September 213 Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Outlook for Finland

More information

CAPITAL ATTRACTION: THE RISE OF AUSTRALIA AS AN INVESTMENT DESTINATION

CAPITAL ATTRACTION: THE RISE OF AUSTRALIA AS AN INVESTMENT DESTINATION CAPITAL ATTRACTION: THE RISE OF AUSTRALIA AS AN INVESTMENT DESTINATION 8 th September Stephen McNabb - Head of Research, Australia Prepared for: UNSW Real Estate Symposium 2015 TODAY S PRESENTATION Observations

More information

European Real Estate Quarterly Q4 2015

European Real Estate Quarterly Q4 2015 European Real Estate Quarterly Q4 2015 Economy and Capital Markets Towards the end of Q3 and during early Q4 there have been an increasing number of commentators speculating that the world economy is on

More information

Investment market continued strong in 2015

Investment market continued strong in 2015 2008 2009 2010 2011 2012 2013 2014 2015F 2016F 2017F MARKETVIEW Helsinki Metropolitan Area (HMA) Office, H2 2015 Investment market continued strong in 2015-0.2% (Y-o-Y) -0.2% (Y-o-Y) 9.2% QUICK STATS ECONOMIC

More information

Outlook for Australian Property Markets Sydney

Outlook for Australian Property Markets Sydney Outlook for Australian Property Markets 2010-2012 Sydney Outlook for Australian Property Markets 2010-2012 Sydney Residential Stimulus and the confidence drives recovery Finance commitments to buy or construct

More information