Colliers Aarhus Delrapport 2023 UK

29

and logistics properties has remained intact. Unlike other segments, this segment has there fore generally been subject to less price pres sure. In addition, due to favourable market con ditions, including a record-high production and turnover index, users in the segment are gen erally in a stronger financial position. Held up against a general undersupply, the precursors are in place for full rent indexation without any increased vacancy risk. In Aarhus, this trend has mainly affected secondary lease units as rents came under upward pressure in 2022. As for prime lease units, new lets were virtually non-existent in 2022, which however needs to be put into the context of exceptionally weak supply as well as remarkably low moving-out rates. Nevertheless, the rent level commanded by prime properties has continued to rise due to rent indexations. In 2023, we expect to see a continued uptrend in rent levels and stable yield requirements, although depending on market trends, including financing options.

Aarhus Local market report for Colliers Market Report 2023

Rise in yield requirements due to new market conditions

4.00% 4.50% 5.00% 5.50% 6.00% 6.50% 7.00% 7.50% 8.00% 8.50% 9.00% 9.50% 10.00%

18

19

20

21

22

23

Short lease

Long lease

Prime

Secondary

Prime

Secondary

Note : Net initial yields, industrial/logistics, Aarhus. Level in 2023 indicates Colliers’ estimation at year-start. Source : Colliers.