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EMEA Industrial & Logistics Hubs 2019 Q2

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In this quarter’s EMEA Industrial & Logistics review, we highlight the following key areas:

  • ECONOMY: The ongoing trade war between the US and China has impacted sentiment in Europe. In H1 2019, GDP growth slowed down to 0.2% q/q in Q2, from 0.4% q/q in Q1.
  • MANUFACTURING: The industrial woes in Germany are dampening the outlook, and the IHS Markit manufacturing PMI reached 46.5 in July 2019 for the eurozone as a whole - the sharpest decline since December 2012.
  • TAKE-UP: Weak industrial sentiment is impacting take-up, but market fundamentals remain strong. The 12-month rolling take-up average for EMEA as a whole may have declined by 5% (y/y) by end of Q2 2019, but this was not widespread as take-up growth expanded across a number of markets.
  • VACANCY: The pace of vacancy declines is moderating across EMEA. Vacancy rates fell in 45% of markets surveyed in H1 2019 (vs 55% in H2 2018). The fastest H/H declines in vacancy rates were registered in Eastern European markets.
  • OCCUPIER CONDITIONS: In a clear sign that market fundamentals remain strong, 54% of cities surveyed reported landlord favourable conditions.
  • RENTAL PERFORMANCE: The city-warehouse sector continued to have more traction than logistics space. City-warehouse prime rents grew in 37% of locations monitored during the first half of 2019, compared to only 24% of logistics and distribution markets.

    This report also includes a macroeconomic overview, market supply and demand, rents and occupier conditions, country markets updates before finishing with our forecast. 

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EMEA Industrial & Logistics Hubs 2019 Q2

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Damian Harrington

Head of Research

London - West End

Damian Harrington is a Director and Head of Research for both Global Capital Markets and EMEA at Colliers. He has over 20 years of experience in the real estate industry living and working from various locations across EMEA including London, Dubai, Prague, Helsinki and Amsterdam. Damian is responsible for producing research for internal and external clients. His expertise helps to provide clients with global capital market trends and analysis, and connects them with strategic and actionable insights, such as the changing nature of global capital and the impact on global capital flows. Damian has produced numerous research papers and generated analysis of markets across all asset types - from residential to offices, retail to logistics and hotels to niche sectors such as life sciences, air cargo and data centres. Damian is a member of the EMEA location strategy team and a key member of Colliers ESG focus group.  He speaks regularly at internal global conferences, external industry events hosted by GRI, ULI and other key industry bodies, plus key annual events such as MIPIM and EXPO REAL.

Damian holds a Masters degree in European Property Development and Planning from University College London, a BPI Bachelor of Planning from the University of Amsterdam and a BA (Hons) in Town and Country Planning from Manchester University. He is also a qualified surveyor, holding an MRICS with the Royal Institute of Chartered Surveyors.

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