ON POINT: Belgium Warehousing Report Update H1 2009. Jones Lang Lasalle

Belgium

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ON POINT: Belgium Warehousing Report Update H1 2009

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In the first half of 2009, 187 deals totalling 285,000m² were noted in the Semi-Industrial sector. Some 286,000m² of logistic space was let or sold for own occupation in some 20 deals during the same period. These figures are in line with 2008, despite the economic downturn.
In the first six months 137,000m² has been completed in 11 schemes, of which only 2 schemes of 10,000m² each were speculative. For the second half another 147,000m² remains to come online, with 39,000m² in two schemes which were still available in early July.
Prime rents remained stable over the quarter at around € 48 m²/yr on the Brussels-Antwerp axis for Logistic properties and € 60 m²/yr in the Brussels area for Semi-Industrial properties.
Prime yields for logistic properties now stand around 7.75% in Q2 09. Investors’ appetite for prime logistic products remains, but very few attractive investment opportunities are currently on the market.