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Property Times - Belgium Industrial Q2 2016

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  • Semi-industrial take-up increased to an above-average level of 201,000 sq m driven by activity in Flanders and Brussels. We expect 2016 to be another dynamic year for the sector.
  • Following a turn of events, Belgian logistics take-up achieved an unprecedented high of 406,000 sq m. This was achieved thanks to a high number of large deals (greater than 15,000 sq m) that took place in Flanders.
  • Specifically, logistics take-up was driven by net demand following the expansion of Van Moer Logistics in the Port of Antwerp in addition further large deals in Flemish Brabant and Limburg.
  • Logistics take-up is indeed benefitting from the centralisation movements from companies with activities already established in Belgium.
  • The cautious approach to development is benefitting from the current large occupier movements: 809,000 sq m will be added to the stock over the next three years, with only Trilogiport (200,000 sq m) developed speculatively.
  • The semi-industrial prime rent underwent an increase to EUR 56/sq m/year (specifically in Brussels), and could increase further by the end of 2016.