A record 158,000 m[sup]2[/sup] of space was taken up in the European data centre market last year largely due to a strong final quarter. The 2007 figure was 37% higher than the combined totals of 2006 and 2005, generating year-on-year growth of 148%, property adviser CB Richard Ellis said on Monday.
A record 158,000 m2 of space was taken up in the European data centre market last year largely due to a strong final quarter. The 2007 figure was 37% higher than the combined totals of 2006 and 2005, generating year-on-year growth of 148%, property adviser CB Richard Ellis said on Monday.
Total market take-up for the fourth quarter last year came to 52,000 m2, 33% of the total year and the second-highest quarterly total take-up ever after the second quarter of last year. Take-up of space for data centres in the fourth quarter showed an increase of 29,000 m2 on the previous quarter. CBRE said this was due to two large shell deals in the London market combined with continued growth in the Carrier Neutral Hotel market across Europe.
Andrew Jay, head of CBRE's Technology practice group, said: 'Over 2007 we have continued to see the London market go from strength to strength. We have also seen the predicted rise of the Frankfurt market. And we witnessed the rise in demand from all other sectors in particular the technology sector, which is encouraging for the outlook for 2008. However, given the current economic climate, post-credit squeeze and concerns over the potential high amount of new supply, we expect to see a cautious start to 2008, particularly in the first two quarters.'
