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P3 beats targets

Eurobuild CEE 31 January 2018
POLAND In 2017, P3 expanded its portfolio to more than 4 mln sqm of logistics space across nine European markets with its total occupancy rate hitting an all time high of 97 pct by year-end.
The company started construction work on almost 600,000 sqm of new space, and completed strategic acquisitions in multiple countries, including large portfolio in Spain at the start of the year for more than EUR 240 mln. As of year end, P3 acquired more than 100 ha of additional landbank across Europe, ready for development.

The company signed up new tenants such as Lamborghini-Ducati, British American Tobacco, Antalis and BSH Electrodomésticos, as well as completed new premises for existing clients such as FM Logistic, eMAG and Kuehne + Nagel. Now the company has app. 360 tenants.

“Demand for premium logistics space continues to outstrip supply in almost all key European locations and I see no signs of this abating. At this pace, we could see the company double in value over the next 3-5 years. Watch this space,” said P3 CEO Ian Worboys.

P3 became the first logistics developer in the world to sign the United Nations Global Compact, the world’s largest corporate sustainability initiative, demonstrating its commitment to reducing its impact on the environment. To preside over the company’s sustainable development practices, Steffen Walvius has joined the company in the newly created post of group sustainability manager.

Also in Poland 2017, was a record-breaking year for P3. The company signed lease agreements for over 400,000 sqm of modern warehouse space, of which over 290,000 sqm were new tenants.

"Last year was very successful for us. We have not only fully implemented our development strategy in Poland, but we have also exceeded our construction targets from the beginning of the year by almost three times. In each of our four parks we have started constructing new facilities. In total, we have delivered 190,000 sqm and another 88,000 sqm is under construction," said Andrzej Wroński, the head of asset management. In 2018 the company is planning to start construction on a 50 ha site next to the P3 Poznań logistics park. “We are also looking for new locations for further development,” added Andrzej Wroński.


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