Take-up in the European logistics market could contract by as much as 35% this year as distributors consolidate and optimise existing centres, according to international property advisor Savills. Meanwhile property sales may increase as manufacturers seek to reduce property costs, the adiviser said. Rents have declined 6% in prime properties and 7% in secondary warehouses year on year compared to Q1 2008.
Westland Shopping Centre in the Brussels neighbourhood of Anderlecht may be up for sale, according to Belgian media reports.
