Definition:
Warehouses and Logistics
Rents for warehouses and logistics are given in Euro/sqm floor space and are valid for premises with heating, good communications but generally without high rack storages, usually located within industrial parks. Rents stated are net rents without accessory charges, and don't take incentives or other benefits into account. Rents given are nominal values.
Commercial rents are differentiated into Prime Rents and Average Rents
The Prime Rent is defined as an average rent of the top 3-5 % of all lettings in each submarket, and not the most top rent realised. The Average Rent is an weighted average value of all rents within a submarket. All average values are not strict mathematical means, modes or medians, but rather describe a typical, common rent level for each submarket. Showrooms and Services
Rents for showrooms and services are given in Euro/sqm floor space and are valid for showrooms and workshops (with windows for daylight) and service spaces, located in business parks, technology parks or industrial parks, with good communications. Rents stated are net rents without accessory charges, and don't take incentives or other benefits into account.
Commercial rents are differentiated into Prime Rents and Average Rents
The Prime Rent is defined as an average rent of the top 3-5 % of all lettings in each submarket, and not the most top rent realised. The Average Rent is an weighted average value of all rents within a submarket. All average values are not strict mathematical means, modes or medians, but rather describe a typical, common rent level for each submarket. Yields
Net Initial Yields are defined as the ratio of net rent income and purchasing price including additional costs (maintenance, taxes, etc. ).
The rent income is based on attainable rents (for existing buildings) or estimated rents (for new buildings) in the first year after purchase. Net initial yields are average values for logistics properties and warehouses.
Prime Yields provide the yield level of properties with higher quality or better locations, but it is not the maximum yield of closed transactions. In order to be able to compare these figures, we define prime yields to be basd on 10-year lease contracts, with tenants typical for this sector or of national importance and reliability. The property itself should be of contemporary standard and a third-party use should be possible. Price for Commercial Land
Prices for commercial land are average prices in Euro/sqm, applying for developed land in modern technology parks or industrial parks with good communications (excl. inner-city old-industry areas or production sites). Usually a GFZ (Geschoßflächenzahl) of 0.6 to 1.1 applies. Data:
annual values
Source:
The Commercial Market Data is based on empirical research and data collection performed by bulwiengesa AG.
In order to acquire the relevant base of information numerous real estate agents, banks, building associations, local economic development agencies and other semi-public and public organisations (IHK, Gutachterausschuss, ...) are interviewed. Additionally various press-releases and publications concerning the property market are analysed and taken into account. Based on this information and on the knowledge of bulwiengesa AG each value will be checked on plausibility and finally results in the value published in RIWIS. |
RIWIS Online - About the Data - Definitions and Additional Information
