IMMOEAST Annual Report 2006/07

42 IMMOEAST Annual Report 2006/07
Logistics sector declines
by 4.2 percentage points
to 14.2%
Low vacancy rates and
relatively high returns
Steady expansion of logistics portfolio
The logistics sector forms an important element of the overall concept for the IMMOEAST property
portfolio. In addition to the two larger segments – offices and retail objects – it rounds out the
company’s activities in the area of commercial properties. During the 2006/07 financial year, the
number of logistics objects rose from 14 to 52 and letable space increased from 260,241 sqm to
695,948 sqm. In spite of this impressive development, the growth of this sector was significantly
slower than the overall expansion of the IMMOEAST portfolio. Accordingly, the share of logistics
properties declined noticeably from 18.4% at the end of 2005/06 to 14.2% as of 30 April 2007.
RO, Timis¸oara, Almera Logistics
The logistics area is highly attractive for long-term investors, above all because of its low vacancy
rates. In all countries where IMMOEAST has made such investments, the demand for modern logistics
space remains high and most of the objects have occupancy rates clearly above 80% at the
time they open.
Higher returns than offices and retail objects
The returns are also very attractive and exceed the comparable values that can be realised on
investments in office or retail properties. In Central and Eastern Europe, South-eastern Europe,
Russia and Ukraine, the difference between top returns in the logistics area and top returns in the
office sector generally range from 1 to 2 percentage points.