With a significant increase of 35% in the third quarter, the sector is experiencing good development. Land dedicated to logistics is scarce. Prices have even been multiplied by 3 in twelve months in certain sectors and construction costs have increased by nearly 10% in one year. Another highlight of this quarter: the return of very large operations, over 1m50.
Focus on a market which has rebounded after the health crisis and which, depending on the region, are announcing results well beyond initial forecasts.
The 3rd quarter confirms a good year for the logistics sector in France
If the economic context has returned more or less to normal, there are still some specificities:
- Logistics service providers are the major players in the market: they alone carry out more than 65% of transactions on existing buildings.
- The scarcity of land dedicated to logistics is accelerating: there is no more land of more than 5 hectares free on the main logistics centers of France. The prices of land dedicated to logistics have therefore been multiplied by 3 in certain sectors.
- Construction costs have increased by nearly 10% in one year.
- Prime capitalization rates are close to 3,5%.
EOL confirms its position as a benchmark player in the sector
In 2021, EOL recorded 2 m² of space placed for 479 transactions, in just 000 months. Figures roughly equivalent to 93 (9 m² for 2019 transactions) compared to 2 m² for 449 transactions in 000.
In France, overall, EOL has concluded 570 m000 of logistics projects on existing buildings or developments, in particular an emblematic operation of more than 2 m110 on behalf of La Redoute in Cambrai (000)
In Europe, After having supported Carrefour for an industrial and logistics project near Brussels, EOL has just signed a plot of more than 20ha in Poland to develop a site of more than 40 m000 for one of its French customers.
EOL accelerates the decarbonisation of warehouses
EOL initiated a warehouse decarbonisation strategy in 2016, which today enables it to support the major players in the market with a unique and innovative approach. With the application of the tertiary decree obliging warehouse operators to reduce energy consumption by 40%, EOL provides a global approach and technical know-how in the choice of logistics sites.
The market in the regions
The Hauts-de-France region:
The Hauts-de-France region breaks a historic record with nearly 880 m000 of space placed (ie 2/1 of the French market) for only 3 transactions (in the space of 25 months).
The political choice to host large-scale logistics operations leads to exceptional results and the “logistics friendly” strategy of this region has proven to be very relevant. This enabled it to attract large-scale projects, in particular 2 operations of more than 100m000 on behalf of SEB and La Redoute.
"We estimate that logistics will have created in this region more than 2500 jobs during the first 9 months and generated a private investment of more than 500 million euros" indicates Laurent Sabatucci - associate director, founder of EOL.
The market in Rhône-Alpes (Lyon):
- Very strong tension on supply with a historically low vacancy rate (3%).
- The few operations launched in blank and the land available for turnkey have been marketed.
- Few future developments and few postponement solutions on peripheral markets.
The market in the Bouches-du-Rhône (Marseille):
- A significant rebound in the 3rd quarter.
- A continuous fall in the vacancy rate (4%).
- Rising rents.
- Unlike the Lyon market, the Marseille market offers some development solutions, particularly near the port of Fos.
The market in Center-Val-de-Loire (Orléans):
- Activity remains very strong in Center Val de Loire. This sector has become more important than Marseille or Lyon.
- The number of operations launched in blank and under development guarantees a certain fluidity of the market.
- The vacancy rate is stable.
- Rents are moderately increasing
The market in New Aquitaine (Bordeaux):
- Few transactions and very few offers available in a tight market.
- The operations launched in blank were marketed.
The market in Occitanie (Toulouse):
- A market that has become marginal given the lack of available offers and the few transactions.
- A vacancy rate still falling.