LOGISTICS IN BELGIUM

In 2021, our freedom was once again restricted, but the second half of the year was mainly characterised by various macroeconomic factors that prompted many companies to increase their stocks or even build up speculative stocks. The demand for (new) warehouse space therefore remains high, but the availability of land now has a direct impact on the ability of Belgian logistics hotspots to continue to develop.

Claude Yvens – claude.yvens@transportmedia.be

As broker JLL notes, the overall transaction volume still points to a very dynamic market, but the performance of the different regions is now directly influenced by the available surface area: the number of transactions is falling sharply on the Antwerp – Ghent axis and especially on the Antwerp – Brussels axis.

On the other hand, we see an increase on the Antwerp – Liège axis, which attracts the largest volume of transactions, not because of their number, but rather because of their average surface area. This says a lot about the ongoing shift: the average surface area is 8,171 m2 /transaction between Antwerp and Brussels and 15,982 m2 /transaction between Antwerp, Limburg and Liège.

Ghent in pole position
According to developers of logistics projects, the reconversion of old industrial estates is not a sufficient solution to secure the future of the sector. Nevertheless, the spectacular success of Genk with the former Ford site serves as an example. As we will see later in this dossier, all eyes are now on Tessenderlo and its former 'Black Market', but this is not the only site that has a bright logistics future in store: once the surrounding roadworks are finished (and the site is cleared), the former Renault site will also be able to accommodate new logistics activities. It is also ideally located for last-mile logistics. However, these new projects cannot be compared with the potential that Ghent has to offer and where a large part of the future investments will be concentrated. In Flanders, this is currently the only place where very large plots of land are still available. Elsewhere, project developers are focusing on slightly more remote areas, such as Herentals or Dendermonde.

In Wallonia, the timing of the expansion of industrial sites is not always ideal. Tournai is still in a good dynamic, but it is especially in Liège that new sites are taking a long time to arrive, now that Trilogiport is almost full and it will take until 2024 before new land becomes available north of the airport. Moreover, it is not yet certain that the reconversion of the Arcelor-Mittal site in Herstal will free up space for logistics activities.