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Special Report: CB Richard Ellis: Outlook for European Data Centre Property Reviewing 3Q2005 for technical property, CB Richard Ellis, the specialist property consultants, see demand continuing to grow in 2006, dominated by the shell and bespoke fully-fitted corporate transactions in outer London. The key findings of the review include: vacancy rates and availability continue to fall; demand is expected to remain strong with increasing activity in Frankfurt and Paris; a further increase in supply in outer London is likely; 51% of the 3Q take-up came from Systems Integrators (in the London market this equated to 88.4%). Interestingly CBRE also perceive the emergence of an investment market for data centre product in western Europe. Demand from Systems Integrators is driven by the inadequacy of existing stock – often disparate, occupied and sometimes of poor quality. Clients of SI’s are demanding better quality real estate of the kind only readily available in 3rd party facilities. Growth is also forecast in the corporate occupier front office and back office operations in Canary Wharf and the City of London driving Disaster Recovery and Mirror data centre requirements towards the central London Carrier Neutral hotel community. Demand in Germany is expected to increase – particularly from the financial services sector as the economy begins to recover. Corporates are expected to demand higher quality facilities than those currently available. Further activity is occurring in Paris, although there is a lack of quality wholesale space in the market. Demand over the past three years has been channelled to existing facilities. This space is now saturated and operators are moving to convert Shell and Core space to fully-fitted.
Have you also seen our other consultant articles? Too Much
Greenwash?
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