30pc lettings jump
Wednesday June 30 2010
TAKE-UP of industrial space is expected to show a 30pc increase this year to 130,000 sqm, despite a 70pc fall to only 17,309 sqm in the second quarter of this year.
The sharp second-quarter fall came about following a very large volume of lettings in Q1 to logistics operators who took advantage of competitive rents and flexible terms on larger space. According to research by Lisney, take-up for the first six months amounted to 75,000 sqm, and Q3 figures are likely to benefit from the number of deals that are agreed but not yet completed.
Rents and prices are little changed in Q2, as prime-logistics rents have fallen to €80.70 per sqm from a peak of €123.80 per sqm.
Prices have fallen from a peak of €1,722-€1,830 per sqm in 2007 to, and around, €860-€970 per sqm.
Q2 also saw purchasers return to the market.
Irish Independent
