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Total take-up in Q1 2016 was 105,300 sq.m., the highest level recorded in a first quarter in the past three years and 48% above the take-up level of the same quarter last year, but 20% below the volume registered the previous quarter. As at mid-May the take-up volume had risen to 146,000 sq.m., mainly retail warehousing.
Large transactions in 2016 so far include 4,000 sq.m. let by Decathlon in Hasselt, 1,800 sq.m. let by JD Sports in Brussels (Rue Neuve) and 1,650 sq.m. let by H&M in Geraardsbergen.
Over 115,200 sq.m. were delivered in Q1 2016, the highest quarterly volume of the past five years.
Prime rents in high streets amount to €2,000/sq.m. p.a. and apply to the prime high streets in Brussels (Rue Neuve, Avenue Louise) and to Antwerp (Meir, Schuttershofstraat).
€ 168 mln were invested in retail as at mid-May this year, €113 mln of which in the first quarter, 16% below the volume recorded in the same quarter last year. The pipeline, however, is worth close to €1.3 billion.
Prime yields for high streets amount to 3.75%, 4.25% for shopping centres and 5.75% for retail warehousing. The downward trend persists.
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22 June 2016