Nürnberg, ca. 1.000 m² Lagerhalle zu vermieten
ID: 1036884DetailsDüsseldorfer Hafen | ca. 550 m² Hallenfläche | ebenerdig | Rampe
ID: 1050758DetailsLOGISTIK | RAMPEN | EBENERDIG | 10 M UKB
ID: 1013898Detailsca. 150 m² große, ebenerdige Hallenfläche mit Rolltor
ID: 1055013DetailsVermietetes Gewerbeareal in Rutesheim zu verkaufen!
ID: 1054871Detailsca. 1.700 m² große, ebenerdige Hallenfläche in Flughafennähe
ID: 1054098DetailsHH-HAFEN | CA. 915 m² | RAMPENLAGER | BÜRO | AUßENFLÄCHE
ID: 104418Detailsca. 13.000 m² moderne Lager- und Logistikfläche | ebenerdig | Vordach
ID: 1054335DetailsHallenfläche ab sofort zu vermieten!
ID: 1034766DetailsLager-/Logistikfläche in Top-Lage zu vermieten!
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ID: 1030615DetailsGladback, warehousing space for wholesale or retail for rent
ID: 95769DetailsGladback, warehousing space for wholesale or retail for rent
ID: 1021247Details
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Press Release
REALOGIS: Quality criteria for logistics prime yields are changing
- ESG criteria will be reflected in sale prices in future
- Realogis defines three categories for current market prices of logistics properties and business parks
- Turnaround in interest policy to have a significant impact on weaker properties
“Between 2015 and 2018, property purchase prices were mainly calculated on the basis of lease terms and tenant creditworthiness. Over the past four years, the construction date and the suitability of the property for third-party use have been the key factors,” reports Clemens Kerscher, Realogis Managing Director and Head of Capital Markets. “Now the parameters are changing again.”
“In future, sale prices will be determined not only by a property’s year of construction and suitability for third-party use, but by ESG criteria,” Clemens Kerscher adds. “These have not yet been a decisive factor in the past two years, nor have they been adequately reflected in valuations. In future, buildings certified in accordance with ESG criteria will generate higher prices than non-certified buildings,” says Clemens Kerscher with confidence.
In order to provide guidance for private and institutional sellers and buyers of logistics and warehouse properties and business parks with different construction dates, suitability for third-party use and ESG eligibility, Realogis has broken down the current market prices into three quality categories.
According to Realogis, the initial gross yields for new and existing logistics properties at Germany’s top 7 locations are currently as follows:
- 3.10%: New build, market value in excess of EUR 20 million, excellent suitability for third-party use, ESG certification, AAA tenant creditworthiness, fully indexed
- 3.30%: More than 10 years old, extremely good suitability for third-party use, good tenant creditworthiness, good indexation, low maintenance backlog
- 4.00%: More than 20 years old, limited suitability for third-party use, average tenant creditworthiness, little/no indexation, low maintenance backlog
According to Realogis, the initial gross yields for industrial/commercial parksat Germany’s top 7 locations are currently as follows:
- 3.70%: New build, market value in excess of EUR 20 million, excellent suitability for third-party use, ESG certification, AAA tenant creditworthiness, fully indexed
- 3.75%: More than 10 years old, extremely good suitability for third-party use, good tenant creditworthiness, good indexation, low maintenance backlog
- 4.25%: More than 20 years old, limited suitability for third-party use, average tenant creditworthiness, little/no indexation, low maintenance backlog
The trend towards ESG-compliant properties is being accelerated in particular by the new EU Taxonomy and Disclosure Regulations, which came into force on 1 January 2022. These approaches seek to improve transparency for investors and provide a uniform definition of the sustainability of investment products. Accordingly, institutional investors with a sustainability focus are more likely to purchase properties that are expected to comply with the EU requirements, while there is a growing risk that properties deviating excessively from these requirements will develop into stranded assets with substantial losses.
Examples of key ecological sustainability criteria for logistics properties include the revitalisation of brownfield sites, photovoltaic plants on roofs and walls, efficient lighting systems (LED) and modern heating systems (environmental criteria). Employee-friendly premises, vertical gardens and outdoor facilities like barbecue areas and sports grounds can contribute to well-being (social criteria). Meanwhile, sustainable management, communication and external quality assurance for all project participants help to ensure good company management (governance criteria).
Clemens Kerscher cited the onset of a turnaround in interest rate policy as an additional factor that will have a significant impact on weaker properties in particular and make them more expensive to buy. “For logistics new builds, these interest rate hikes can be priced in and hence are not reflected in the calculation of the coefficient,” explains Clemens Kerscher. “However, price rises will be capped for properties that are more than 20 years old and that have a hall height of less than 10 metres.” Florian Stork, Realogis Managing Director with responsibility for southern Germany, adds: “Although these properties have reached their peak, the fact that they often have excellent locations that are difficult to replicate means they can benefit from the recent sharp rise in land prices. In other words, the outlook for the asset class of industrial and logistics properties and business parks remains extremely positive.”
* Top-7-locations: Hamburg, Berlin, Dusseldorf, Cologne, Frankfurt am Main, Stuttgart and Munich
Copyright to charts: Charts can be reproduced free of charge citing the source “REALOGIS”.
REALOGIS press contact:
SH/Communication – Public Relations Agency
Silke Westermann
Press
Fritz-Vomfelde-Strasse 34, 40547 Düsseldorf
Tel: +49/211/53 88 3-440
e-mail: s.westermann@shcommunication.de
REALOGIS company contact:
REALOGIS Holding GmbH
Silja Schuppler
Marketing
Rundfunkplatz 4, 80335 Munich
Tel: +49/89/51 55 69 17
e-mail: s.schuppler@realogis.de
REALOGIS. No. 1 for industrial and logistics properties
The REALOGIS Group is Germany’s leading player for the consulting and brokering of industrial, logistics and commercial properties. Founded in 2005 as a pioneer for the asset class of logistics and industry, the owner-operated group has enjoyed healthy growth, is crisis-resistant and knows the German market like no other. In 2021 Realogis generated nearly 1,3 million m² of usable space alone in the letting segment. The net commission revenue of all services in the financial year 2021are EUR 25 million.
In 2021, REALOGIS also won the German Real Estate Prize in the “Commercial Player” category, which honours companies for their outstanding commitment, creativity, innovative strength and sustainability.
Realogis is represented in the country’s seven top logistics locations of Berlin, Düsseldorf, Frankfurt am Main, Hamburg, Leipzig, Munich and Stuttgart, while a dedicated organisational unit ensures transparency in around 15 additional regional logistics markets. 70 real estate professionals advise national and international companies from the fields of logistics, e-commerce, retail and industry as well as private and institutional investors. Quick, flexible, regional, customer-oriented and with a high volume of transactions.
REALOGIS four core competencies are arranging highly creditworthy tenants for new and existing properties, assisting investors with property investments and project development of greenfields and brownfields, outstanding service for locating or selling sites, and the development and implementation of holistic property strategies.
In short, REALOGIS creates more room for its customers’ success in every sense. Further information: https://www.realogis.de/