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All smiles for Polish sheds

Nathan North 20 May 2020

Nathan North

Deputy editor

+48 22 356 25 22
nathan@eurobuildcee.com

Nathan is responsible for the English section of the magazine. Nathan was born in Manchester in the UK and completed a master’s degree in philosophy at the University of London. As well being responsible for editing the English section of ‘Eurobuild CEE’ magazine, he also contributes news from around Central Europe and articles on the investment and industrial markets and on architecture. In his free time he likes playing piano, drawing and cooking.

POLAND The new supply of industrial space in Poland in the first quarter increased by 16.2 pct over the previous twelve months, according to Cresa Polska’s ‘Occupier Insight – Industrial and Warehouse Market in Q1 2020’ report.

At the end of Q1 the warehouse and industrial space across the country amounted to 19 mln sqm, according to the report, which was 30 pct lower than the y-o-y increase of 600,000 sqm a year earlier. However, almost 2.2 mln sqm is under construction and will come into use this year – 60,000 sqm more than the previous record in Q2 2017.

In the first quarter, lease agreements were signed for a total of almost 1.1 mln sqm. New contracts made up the largest share of this (72 pct), followed by renegotiations (18 pct) and expansions (10 pct).

The largest transactions included Euro-Net in Prologis Park Janki (73,400 sqm), OTCF in Panattoni BTS Czeladź (67,000 sqm) and Lidl in Exeter Park Stryków (51,900 sqm).

The vacancy rate remained stable at 7.6 pct – up by only 0.5 pp on Q4 2019.

“Despite the economic blockage caused by Covid-19, the warehouse space market remains in good condition. In addition, there are a number of new opportunities for growth on the industrial and logistics market. One example would be the increase in online sales, which is an opportunity for all participants in the supply chain – from online stores to courier and logistics companies. This entails an increase in demand for large-scale logistics facilities and city warehouses,” explains Tom Listowski, a partner and director of the CEE industrial and warehouse department at Cresa.

Cresa predicts that Poland will become an even more attractive place for companies seeking supply chain diversification and that construction costs and land prices will fall. There could be delays of several months in launching new projects due to the closure of planning offices, but Cresa believes the problems for the Polish warehousing sector will only be short term and that it in the longer perspective it is set to be one of the main beneficiaries of the current situation.

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