Focus report Aarhus - Colliers Denmark 2024

INDUSTRIAL AND LOGISTICS - COLLIERS FOCUS REPORT AARHUS 2024

29

Rise in yield requirements due to new market conditions

HOTEL INDUSTRIAL/LOGISTICS RETAIL RESIDENTIAL OFFICE

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%

19

20

21

22

23

24

Short lease

Long lease

Prime

Secondary

Prime

Secondary

Note: Net initial yields, industrial and logistics, Aarhus. Level in 2024 indicates Colliers’ estimation at year-start. Source: Colliers

Port of Aarhus The Port of Aarhus is the country’s largest bulk and com mercial harbour with a market share of over 65% of all container traffic. The area around the Port of Aarhus is home to more than 150 companies. In 2023, an expan sion of the harbour was approved by a broad political majority. This is a major milestone for the Port of Aarhus and Aarhus in general. The expansion amounts to approx. 43 hectares, which is less than originally envisaged in the expansion plans, which have been in process since 2018. The green transi tion has also made its entry at the harbour, which has a goal of being CO2 neutral by 2030. Among other things, the harbour has introduced the Nordic region’s first elec trically powered hawser car to help moor the ships. In connection with the upcoming expansion of the har bour, inspiration was sought from harbour facilities in Fredericia and Odense, where the harbour expansion is relieved by the establishment of a dry port. The city’s future dry port will be located in Framlev and will primar ily store empty containers to save space when the har bour is expanded. In connection with the expansion, the construction of the Marselis tunnel is also planned - an

almost two kilometre-long tunnel that will stretch from the port to Skanderborgvej. Construction of the tunnel is scheduled to begin in 2025 and be completed in 2031. Several major companies would have been forced to relocate their activities from the Port of Aarhus if the expansion had not been approved. The fear of reloca tion has now been replaced by expansion and invest ment opportunities to help future-proof the Port of Aarhus. The first stage of the new harbour is expected to be completed in 2039. One of the players who have already expanded their capacities at the harbour is American Lineage Logistics. In line with increasing demand, Lineage, one of the larg est players in the refrigerated and frozen property sector, has tripled its storage capacity. However, DLG has stopped their cattle feed production at the harbour. This is being moved to other locations, including Skærbæk.