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Record H1 for warehouse deliveries

Eurobuild CEE 31 July 2019

POLAND Almost 1.1 mln sqm of modern warehouse and industrial space was completed in the first half of 2019, which is the highest volume of new supply on record for the first six months of a year, according to Savills’ “Market in Minutes – Warehouse market in Poland" report.

As a result the total stock of modern warehouse and industrial space in Poland has risen to 16.8 mln sqm. In terms of stock, Warsaw maintains its leading position with 4.1 mln sqm, while Central Poland (with 2.73 mln sqm) overtook Upper Silesia (2.66 mln sqm) as a result of 246,500 sqm being delivered to the market. Over 2.2 mln sqm of warehouse and industrial space remains under construction across Poland, with the biggest project being Panattoni BTS Amazon Gliwice at 210,000 sqm.

“City logistics is still one of the key trends. At the end of June 2019 there was around 52,100 sqm of space under construction and the demand for urban logistics warehouses remains high being around 31,000 sqm of net take-up in H1 2019,” said Kamil Szymański, the head of industrial agency at Savills.

Gross demand in H1 2019 came to 1.8 mln sqm, down by 16 pct y-o-y. The largest volume of take-up was noted in Warsaw (almost 580,000 sqm), nearly 50 pct more than a year before. Key lease agreements (each of around 60,000 sqm) signed in H1 include: Jysk (Logistic City Piotrków Trybunalski), Pantos Logistics (Panattoni Park Wrocław XI) and PepsiCo (P3 Mszczonów).

Poland’s vacancy rate was slightly down (0.4 pp q-o-q) and at the end of June 2019 remained low at 5.1 pct. The highest rate was seen in Upper Silesia (7.6 pct) and Poznań (7.5 pct). Headline monthly rents were stable at EUR 2.7–4.2 per sqm for big-box warehouses and stood at EUR 5.35 per sqm for small business units in Warsaw.

“The warehouse market has kept up its momentum. Following the record-breaking level of new supply in H1, the whole year could end with the highest volume of new warehouse and industrial space delivered to the market at around 2.5 mln sqm,” says Kamil Szymański.

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