| | Real estate recovery: London's office market and the European logistics sector lead the way Logistics and the London office market are the star turns in this week's newsletter with new studies suggesting that both sectors are in rude health with more to come in the year ahead.
Colliers reports that take up of office space across central London reached 420,000 sq ft in January, the highest volume seen since July 2020, and 13 per cent above the average monthly leasing figures recorded since the start of the pandemic.
"The positivity that has come from the UK’s successful vaccine rollout and reduction in daily case numbers is reflected in the increased transaction volumes we saw in January," says James Walker, head of City Agency at Colliers. "This optimism should continue for the first half of the year and once travel opens up, and people can return to their offices with confidence, we expect recovery to begin in earnest."
New research data analysed and published by Comprar Acciones meanwhile, reveals that eCommerce growth in Europe drove logistics investments up to EUR38.64 billion (USD46.5 billion) in 2020 – the highest figure on record since 2013 – on the back of a record take-up of warehouses in the region.
And the market has certainly caught the attention of Bouwinvest Real Estate Investors with the company allocating EUR100 million to a strategy that will target various sectors in the Nordics, logistics included.
Logistics transactions also dominate our deals news this week with a host of reports on acquisitions and lettings and sales involving Europa Capital, Cromwell, Tritax, and JLL Property Trust.
Stoneweg meanwhile, has teamed with Glovo to launch a new urban logistics strategy that will seek to capitalise on the 'supply/demand tension for last mile delivery assets and the continued growth in e-commerce and q-commerce (quick commerce) penetration'.
Glovo, a Barcelona based Unicorn that operates across 21 countries, is one the fastest-growing delivery providers in Europe, western Asia, and Africa.
"The team at Stoneweg have the kind of regional expertise that we require and an impressive track record in sourcing attractive opportunities in the urban logistics space, which has become increasingly difficult to access in certain markets," says Glovo co-founder Sacha Michaud.
Property Funds World
| | | | | | | | | | | | | | | | | | | | Cromwell signs new 6,100 sq m Brøndby logistics lease with Ambrosia | | Thu | 18 Feb 2021, 12:25 | | Real estate investor and manager, Cromwell Property Group has signed a lease with Ambrosia Group for 6,100 sq m at Priorparken 700 in Brøndby, Denmark on behalf of Cromwell European REIT (CEREIT), the SGX-listed pan-European REIT that owns the asset. |
| | | | Tritax EuroBox sells Lodz logistics property for EUR65.5m | | Thu | 18 Feb 2021, 12:25 | | Tritax EuroBox has sold an asset in Lodz, Poland for EUR65.5 million, 15 per cent above its most recent valuation at 30 September 2020 and, based on the Company’s target gearing of 45 per cent, delivering an attractive geared IRR of 16.5 per cent to shareholders, above the Company’s long term target of 9 per cent total return per annum. |
| | | | JLL Income Property Trust acquires Louisville Distribution Center | | Thu | 18 Feb 2021, 12:25 | | JLL Income Property Trust, an institutionally managed daily NAV REIT with USD3.4 billion in portfolio assets, has acquired Louisville Distribution Center, a one million-square-foot, Class A industrial property located in the top-tier industrial submarket of South Louisville. The purchase price was USD95 million. |
| | | | Stoneweg launches last-mile logistics strategy with Glovo | | Thu | 18 Feb 2021, 12:25 | | Stoneweg, a real estate investment adviser and asset manager with operations and capabilities across Europe and the United States, has launched a new urban logistics strategy on behalf of clients that will seek to capitalise on the supply/demand tension for last mile delivery assets and the continued growth in e-commerce and q-commerce (quick commerce) penetration. |
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