Take-up for logistics space hits 11.9 million sqm in Europe

Take-up for logistics space hits 11.9 million sqm in Europe

Published at: 2019-10-07 08:25 | Author: CIJEurope.com
Competition for logistics space in Europe is heating up with record take-up levels hitting 11.9 million sqm and downward pressure on yields reported across the board in the first half of 2019, according to Savills. In markets like the UK, the Netherlands, Germany and France, where more than 10 percent of all retail sales are made online, take-up levels stood at 1.5 million sqm, 2 million sqm, 2.9 million sqm and 1.4 million sqm respectively, as growing demand from retailers continued to shape the upwards trajectory. “While countries such as the UK, Germany and the Netherlands continue to attract the most interest, we are seeing a huge uptick in logistics activity across Iberia and CEE, as the European distribution network further grows,” said Marcus de Minckwitz, director of the regional investment advisory division at Savills EMEA.

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