Market Review
European data centres:
a slow start in 2008
CNH market steady as credit crunch hits shell deals, writes
Andrew Jay, Head of Technology Practice Group, EMEA,
CB Richard Ellis Technology Practice Group.
There have been a number of Tier 1 data centre market remains vacancy rate of 12.57%. Total market
interesting developments in the Tier 1 buoyant despite the effects of the take-up for Quarter 1 was 18,620 sq
European data centre market over the credit crunch on the corporate sector. m. This was a decrease on the
course of Quarter 1 2008. Take-up in previous quarter of 64%. However,
the London market has been the Total stock levels in the Carrier Neutral compared with the first quarter of
lowest since our quarterly statistics Hotel (CNH) market rose marginally on 2007 this represented a reduction of
began with no take-up from the the previous quarter to 573,670 sq m only 4%.
corporate sector in London. following expansion in a number of
existing facilities. Take-up in Quarter 1 was mainly in the
The Frankfurt market had an excellent CNH market, 18,160 sq m (98%), with
quarter with take-up of 11,180 sq m. CNH availability decreased by 7% to the remaining 460 sq m (2%) in threat
This continues the strong levels of 150,780 sq m in Quarter 1. Availability stock. The lack of shell deals is again
take-up we have seen in Frankfurt rose in the last quarter of 2007 due to illustrative of the credit crunch
since the middle of last year. the addition of new stock in the affecting the corporate sector in
Elsewhere Paris and Madrid reported London market. CNH market vacancy London.
encouraging figures and as such, the stood at 26.28% with a fully-fitted
In terms of take-up by market sector,
7,900 sq m (42%) was from the
technology sector, 6,590 sq m (35%)
was from corporates, 2,570 sq m
(14%) was in retail transactions and
1,560 sq m (8%) was by system
integrators.
MARKET OVERVIEW
CNH Supply
In Quarter 1, CNH stock rose by 2,270
sq m. This increase was due to
expansion of existing facilities rather
than new facilities being built. Of the
total stock, 392,700 sq m (69%) was
fully-fitted space, 53,470 sq m (9%)
Graph 1: CNH Vacancy Rate (%) per tier 1 market was central services space and
28 | DATA CENTRE SOLUTIONS |
www.datacentresols.com September 2008
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