DTZ Report: Belgium Industrial Q4 2010

In attachment you will find the report ‘Property Times. Belgium Industrial Q4 10. Lightweight bulking up‘ about the Belgian industrial real estate market, Q4 2010:


The year has ended on a relatively high note, with a total of 234,100 sq m recorded in take up during Q4. Activity has therefore risen by 14% in comparison to Q3.

Take-up in 2010 is determined at 829,100 sq m, i.e. more than 8% above the decade average of 762,600 sq m.

Flanders saw improvements in many of its submarkets; Kempen in particular witnessed a 264% increase in take-up on Q3. Conversely, Flanders’ main provider of logistics activity has suffered a strong decrease (87%).

While the main industrial submarkets such as Mechelen-Willebroek may boast substantial stock, occupiers tend to privilege premises which are tailored to their needs. Owners on the other hand are

unlikely to build unless they can find tenants guaranteeing long-term occupation.

Wallonia and Brussels have played their part in terms of market activity this term. This may be a sign of things to come with potential logistics developments in Liège and Brussels.

The Belgian prime rent for logistics has decreased to €45/sq m/year and is situated in the Antwerp submarket. Following the same path, the level for prime rents in semi-industrial and polyvalent premises is now at €50/sq m/year in the East Flanders and Flemish Brabant submarkets.