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Warehouse demand still on the rise

Rafał Ostrowski 08 November 2017

Rafał Ostrowski


+48 22 356 25 11

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

POLAND Over 2.5 mln sqm were leased on the Polish warehouse market in the first three quarters of the year, representing a 15 pct increase y-o-y, according to the ‘Marketbeat – Polish Industrial Market Q1-Q3 2017’ report by Cushman & Wakefield.

At the end of Q3 2017, there was 1.05 mln sqm of warehouse space under construction, 75 pct of which was already pre-leased. “We expect Poland’s total industrial stock to surpass the 13 mln sqm mark by the end of the year. This will be driven by the expansion of e-commerce and the high levels of activity of manufacturing companies, including the household appliance and automotive sectors,” said Joanna Sinkiewicz, the head of the industrial and logistics at Cushman & Wakefield Poland. She added that the current low levels of speculative investment guarantee that vacancy rates will remain at low levels. At the end of September 2017, the vacancy rate stood at 5.4 pct with 698,000 sqm of unleased space, down by 0.8 pp from 6.2 pct last year.

Headline monthly rents remained flat in the country’s core warehouse markets standing at EUR 2.40–3.60 per sqm at the end of Q3 2017. The highest rents are within Warsaw’s city limits (EUR 4.00–5.25) and in Kraków (EUR 3.50–4.50). Effective rents (which are lower due to financial incentives) stand at EUR 1.90–3.20. As in the case of headline rents, the highest are in Warsaw (EUR 3.50–4.60) and Kraków (app. EUR 2.80–3.60).

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