20/07/21

Q2 2021 Catalan logistic take-up surges to 255,877 sqm, confirming the good performance of the sector

 

Forcadell’s industrial-logistic report highlights that in Q2 2021, the Catalan sector's take-up has risen up to 255,877 sqm, a 189% increase respect the figure contracted last year (88,453 sqm). Just as what happened in Q1, one transaction makes the take-up numbers rise spectacularly. In any case, even leaving aside the 90,000 sqm of the Mango expansion in Lliçà d’ Amunt (2nd Ring), numbers are looking up, doubling those reached in last year’s Q1, clearly impacted by the Covid crisis.

Conducting an analysis by zones, Barcelona’s 2nd Ring stands in the first place, covering 155,186 sqm of contracted space (61% of total take-up) achieved in 10 transactions. The 3rd Rind comes in second, registering 70,464 sqm in 6 transactions, followed by the 1st Ring, with 29,827 sqm in 3 transactions.

Regarding transaction figures, the total take-up of logistic space, 213,221 sqm, reached 83% in new housing stock, either by turnkey mode or speculative projects that were already under way. This clearly confirms the good performance of the sector and the continued renewal of available logistic warehousing parks. It is worth highlighting, as mentioned above, the 90,000 sqm Mango expansion in Lliçà d’Amunt, (2nd Ring) the 13,000 sqm Aldi expansion in Masquefa (3rd Ring) or the contracting of 20,000 sqm in Santa Perpetua de Mogoda (2nd Ring).

Asking rents, as stated above, remain stable trending slightly upwards, particularly in the Second Ring where new projects are emerging. Rents for triple-A warehouses in the first Ring stand at around the 7€/sqm/mnth range, in the 2nd Ring the range spans between 4.5 reaching up to 6€/sqm/mnth for some specific projects, and around 3.5€/sqm/mnth in the 3rd Ring.

According to Gerard Plana, Forcadell’s Industrial-Logistic department director, “investment sentiment continues rising. E-commerce and last mile logistics and delivery are one of the main interests of most investment funds and socimis”

Forecast of ongoing transactions predict a strong Q3 for the industrial-logistic sector. However, the challenge of finding quality product for sale will force prices upwards which will in turn diminish yields.

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