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Belgium Industrial Q4 2015

The full report

PROPERTY TIMES. Belgium Industrial Q4 2015

Belgium Industrial Q4 2015

Vintage year for semi-industrial sector

• 2015 witnessed the best volume of semi-industrial take-up in ten years: 859,000 sq m. This has continued to drive the upward trend that has been taking place since 2011 thanks to an ever-increasing number of deals.
• This increase is in contrast with the continuous decrease of logistics take-up.
• Indeed 2015 has been the worst year for logistics take-up in the past five years and amounts to 640,000 sq m due to poor figures as far as supply chain occupiers demand, take-up in Wallonia and the overall number of deals were concerned.
• These decreases are explained by trends such as consolidations in the logistics sector, the growth of e-commerce and its labour requirements, and competition from abroad.
• Next year logistics will be shaped by conservative developments. Indeed at least 367,000 sq m are to be delivered in 2016 – all committed schemes. Nevertheless with 200,000 sq m expected to be developed in Trilogiport in 2017 this could change rapidly.
• The logistics prime rent has increased substantially in 2015 (more than 15%) to reach a level of EUR 58/sq m/year, its highest level of the past ten years.