Dutch market for logistics real estate - Report 2021 Take-up of logistics space by building type in m2 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 0 existing buildings new developments Take-up of logistics space by region in m2 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 0 New-build continues to dominate New-build is still the name of the game, both build-to-suit and speculative. Spec-developments continued to be successful and compensated for a decrease in to-suit developments. • 80% of take-up concerned new-build • Existing take-up 20%, new-build take-up 7% • Take-up of speculative developments 65%, 28% of total 2019 2020 Supply of logistics space by building type in m2 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 0 existing buildings new developments Supply of logistics space as percentage of stock 10 11 12 4 5 6 7 8 9 Lease prices rise despite increased supply Supply of quickly available, good-quality buildings at hotspot locations remains limited and is often built speculatively, which usually means at higher rents. As land also remains scarce, lease prices rose in most areas in spite of increased supply. OUTLOOK 2021 The logistics market has shown to be resilient against, to some extent even benefiting from, the Covid-19 crisis. Online shopping has received a great boost as a result of the crisis and the effect of this development is only beginning to show in the take-up figures. Risk factors such as Brexit and shrinking labour pools have so far not impacted the market substantially. We therefore maintain our positive outlook and foresee a strong 2021. Logistiekvastgoed 2021 - 53 (year-end) Highest take-up in Rotterdam/The Hague region The region Rotterdam-The Hague held its position at the top of the take-up list, with large-scale transactions at Maasvlakte (Odin) and De Lier (De Jong Verpakkingen). • Lower take-up in regions Utrecht ( 81%) and West-/ Midden-Brabant ( 25%), probably caused by lack of good-quality supply • Strong take-up in Arnhem/Nijmegen ( 56%) Supply grows as take-up decreases, mainly existing buildings Supply of existing buildings rose sharply. Speculative supply also increased, but to a lesser extent. • Supply of existing buildings 37%, new buildings 16% • Speculative supply stable as additions (ap. 900,000 m²) are only slightly higher than take-up (ap. 825,000 m²) OCCUPIER MARKET Limited effect of Covid-19 Logistics was impacted by Covid-19, but to a much smaller extent than other real estate segments: total take-up 10%. • After a sharp drop in March, take-up gradually recovered, with a strong finish in November/December • Online retail boom supports high expectations 2012 2013 2014 2015 2016 2017 2018 2019 2020 2012 2013 2014 2015 2016 2017 2018 2019 2020 Utrecht Arnhem / Nijmegen Amsterdam / Schiphol / Almere Other regions West- / Middle Brabant East Brabant / Limburg Rotterdam / The Hague
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