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14 February 2012
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22 February 2012
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03-04 May 2012
Vienna, Austria
European logistics to restructure; take-up may fall 35% - Savills
The European logistics market is set for further restructuring this year as distributors consolidate and optimise existing centres, says property advisor Savills. Manufacturers seeking to cut property costs may reduce take-up by as much as 35% and property sales will probably increase, providing the market with good buying opportunities. The change has largely been driven by the GDP contraction and collapse in global manufacturing. In first quarter, prime asset rents fell 6%, and secondary warehouses 7% against 1Q08.