Barclays favours buyers in European warehouse market as private owners seek exit

Montea NV

30/03/2026 09:43

** In a note on European warehouses, Barclays says the occupational/leasing market is sluggish as occupiers delay decisions, noting large-box demand is slow and developers struggle to secure meaningful pre-lets

** It reiterates its "buy the buyers" approach, preferring companies that acquire properties over developers in Western Europe

** "Our predicted private to public transfer of real estate is accelerating in the warehouse space as private owners look to exit," the broker says

** It upgrades Belgian logistics real estate firm Montea MONTE.BR to "overweight" from "equal weight", citing a good entry point for mid-cap, income-seeking investors

** Barclays' preferred exposures are WDP WDPP.BR and Tritax Big Box BBOXT.L based on their acquisition stance, both maintained at "overweight"

** The broker also keeps "overweight" rating on Catena CATE.ST, Segro SGRO.L and VGP VGP1.BR

(Reporting by Clement Martinot)

((Clement.Martinot@thomsonreuters.com;))