Robust occupier and developer activity on the Polish industrial and logistics market скачать в хорошем качестве

Robust occupier and developer activity on the Polish industrial and logistics market

Tom Listowski, Partner, Head of Industrial and Logistics Agency Poland and CEE Corporate Relations, Cushman & Wakefield The Polish industrial market continued its rapid growth throughout 2016 with total warehouse stock surpassing the 11 million sq m mark at the end of December. Leasing activity remained very strong, leading to record high take-up, with more than 3 million sq m being transacted. The leasing volumes were largely driven by logistics operators, retailers, automotive and manufacturing companies, as well as the rapidly expanding e-commerce sector. The Warsaw and Upper Silesia region recorded the largest volumes of leasing activity. Significant demand was also noted in emerging regional markets such as Szczecin, Bydgoszcz and Toruń. In 2016, the Polish warehouse market recorded the two largest ever single transactions, both from e-commerce sector. Panattoni will develop a 161,000 sq m BTS scheme for Amazon in Kołbaskowo near Szczecin and Zalando will occupy 130,000 sq m in Gryfino near Szczecin, developed by Goodman. Developer activity remained very robust last year with nearly 1.2 million sq m added to the country’s total warehouse stock, which represented the second largest ever annual supply and an almost 25% increase year-on-year. The largest volumes of new warehouse space were delivered in Warsaw’s suburbs, Upper Silesia, Central Poland and Poznań. At the end of December 2016, there was more than 1.3 million sq m under construction with the highest concentration of new developments to take place in Warsaw’s suburbs and in Poznań. The high supply level coupled with an increase in speculative projects pushed vacancy rates up to 6.7% at year-end, equating to approximately 740,000 sq m of vacant warehouse space. Of the core warehouse markets, the highest vacancy rates were in Warsaw’s Inner City and Krakow, and the lowest in Central Poland. Headline rents remained flat or fell slightly. The highest rents are in Warsaw’s inner city, standing at EUR 4.00–5.25/sq m/month. In other regions rents range between EUR 2.40–4.00/sq m/month. In 2017 we expect leasing volumes to remain very strong with many high profile projects currently in the closing stages. We expect new developer-led parks will appear in the core and established sub-markets but also in medium- sized cities which are on the radars of developers as a result of benefiting in infrastructure improvements and providing access to labour which many companies place at the top of their list of priorities. Poland is a key manufacturing and logistics location. Cushman and Wakefield’s ¬¬¬latest publication, Manufacturing Risk Index ranks Poland in 13th position out of 30 countries globally and number 6 in the EMEA region. Poland’s consistently high ranking over the last several years is underpinned by the record high levels of industrial activity re-iterating the positive attributes and foundations Poland holds in not only attracting new manufacturing operations but also supporting the expansion plans of global companies with already established platforms.