LONDON, September 10, 2014 – Global property advisers, Colliers International, has created a new European cross-border industrial leadership team comprising two co-heads taken from its UK Industrial and Logistics department and EMEA Corporate Solutions.
Tim Crighton, Senior Portfolio Manager from EMEA Corporate Solutions based in London, and Tim Davies, Director of Industrial and Logistics based in Bristol, will lead the team, which includes industrial property specialists from major markets around Europe, to provide its international clients with fully integrated services across its core service lines of Corporate Solutions, leasing, development and Capital Markets.
Tim Crighton, co-head of EMEA Industrial and Logistics, Colliers International, said, ““Our clients are increasingly requiring a more forensic approach to their real estate needs, beginning at boardroom level. The establishment of an industrial and logistics leadership team will ensure the continued strategic management of our pan-European occupier clients’ property portfolios. This partner approach is something we are seeing mirrored in our relationships with key investors and developers ensuring that Colliers is delivering on more than simply transactional support where a more mature approach is needed.”
Recent projects for the team have included a mandate for US-based paints and coatings business Valspar to develop a strategy and delivery for their expansion across EMEA; for Faurecia, the sixth largest international automotive parts manufacturers in the world, the team centralised the management of its real estate projects and achieved over €40 million in savings; for the Fortune 500 company and the world’s largest clinical research organisation, Quintiles, Colliers is the exclusive real estate provider to improve the visibility of its estate and liabilities.
The team, which will be run from London, will report to Colliers’ EMEA CEO, Chris McLernon.
The news follows evidence of growth across Europe’s industrial hubs at the end of the second quarter of 2014, as high demand combined with scarce supply pushed up prime logistics rents. Several Eastern European markets saw growth in prime logistics rents, including Tallinn, Vilnius, Bratislava and Brno, with Minsk recording the highest increase (+45 per cent) among all the markets mainly due to lack of supply. Dublin and major UK logistics markets including London Heathrow, Birmingham in the West Midlands and Manchester in the North West also saw industrial rents rise amid recovering demand and decreasing availability, as was also the case in Munich and Stuttgart in Germany.
Tim Davies, Co-Head of EMEA Industrial and Logistics, Colliers International, said, “Although there are some obvious disparities within the EMEA region it is clear that the “Eurozone Hangover” has been cured in all but a few locations. Looking ahead, the general rebound of most European economies will be translated into increased demand from occupiers. In particular activity in the E-Commerce and retail sectors will continue to underpin rental growth across all markets.”
Colliers International’s latest EMEA Industrial Report reveals that prime rental values have now found stability in the majority of locations (46 out of 54 cities either reported growth or remained unchanged in H1 2014). These include the primary Southern European markets, including Lisbon and Madrid, where prime logistics rents have now remained stable for the last 18 months.
“There remain six markets which remain plagued by high vacancy levels and lower demand, putting further downward pressure on prime logistics rents, such as Hungary and also Moscow, where the sheer high volume of space under construction in the Moscow region has led to a small decline impact in rents with further correction expected”, said Davies. Declines were also seen in Hamburg, Poznan, Amsterdam, Vienna and Athens.
Looking forward, further increases in prime logistics rents are expected in London, Birmingham, Dublin, Stuttgart and Vilnius; while declines might be observed in major Russian markets, Moscow and St Petersburg; as well as in Athens and Belgrade.