Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, June 7 with Winston Norman, Editor and Chief of EuropaProperty.com.
Warehouse market in Poland enjoys strong Q1 2022
JLL has summarised the first quarter of Poland’s warehouse market analysing the behaviour of investors, developers and tenants. The data after the first three months of the year shows that:
The net demand for warehouse space in Poland increased by 5 percent compared to the record performance of Q1 2021, with new tenants still most likely to choose one of the Big Five markets.
In Poland the logistics industry and retail chains saw the most interest in leasing, totalling almost 900,000 sqm, in the shape of new contracts and expansions.
Developers are implementing their plans to build speculative developments.
New supply in Poland hit a record of over 1.2 million sqm, which accounted for 25 percent of the space delivered in Europe. Most spaces were delivered to the markets of Poznań, Central Poland, Warsaw and Wrocław.
The sector saw the first visible increase in rental rates recorded in the country. This was most noticeable in urban locations – in Warsaw, base rental rates stood at almost EUR 6/sqm/month at the end of the first quarter.
“Despite the apparent impact of economic and political factors on the national economy, the warehouse market did very well in the first quarter,” comments Tomasz Mika, Head of Industrial Agency in Poland, JLL.
Panattoni launches logistics centre of around 45,000 sqm in Radom
Panattoni is launching a logistics centre in Radom. Panattoni Park Radom will have an area of 44,200 sqm at full build-out. The first two buildings are to be completed by the beginning of 2023 and they already have tenants from the logistics and grocery sectors
Panattoni is driving the development of Radom, the second-largest city in the region. The developer has seen the huge potential of this location, which gives it excellent and steady access to workers from a population of over 200,000 people.
“The opening up of the region with modern industrial space and its strategic location at the crossroads of important European road transport routes increases its attraction for the logistics, production and e-commerce sectors. The low costs of doing business in an attractive location in comparison to the largest warehouse markets also represent a huge advantage,” says Katarzyna Osińska, Development Director from Panattoni.
AVA Shopping Park opens in Belgrade
AVA Shopping Park has opened next to the local IKEA store in Belgrade. The investment in AVA Shopping Park is worth over €55 million. At the opening ceremony the mayor of Belgrade, Zoran Radojicic, estimated that the investment by IKEA has not only contributed to the tourist offer of the city but it would also bring jobs to 400 people in Belgrade.
“Five years after the arrival of the IKEA department store to Belgrade, we are very excited to also open AVA Shopping Park, which offers varied content and thereby provides a full experience to our visitors. With this project, we have once again shown our dedication to the Serbian market,” said Katarina Egorova, the regional director of IKEA of Southeast Europe.
“Thereby, the total value of the investment of IKEA in Serbia will amount to €125 million, which proves our dedication to Serbia and our contribution to the local economy,” said Vladimir Andjelic, the CFO of IKEA Southeast Europe.
AVA Shopping Park encompasses retail space of around 19,000 sqm, with an excellent offer of more than 35 local and international brands.
Synergy Construct to open new retail park in Bucharest
Romanian construction firm Synergy Construct will open a new retail park in northern Bucharest, next to highway A3, following an investment of €15 million. The opening is set for September.
Lemon Retail Park will have a leasable area of around 7,700 sqm and has a mix of tenants that includes domestic and foreign retailers and service providers.
“Our strategy is to enrich our portfolio with similar developments, connected with residential projects to which we add value,” said Liviu Suvac, Chief Business Officer of Synergy Construct.
CBRE was the project consultant for the retail park. The concept of small or medium-sized retail parks, developed in the proximity of a residential area, is increasingly present in the local market and has shown to be the most successful format in the industry.
Apple Museum Poland Opens in Norblin Factory
The Apple Museum has opened at the Norblin Factory in Warsaw. Now technology fans have access to the world’s largest collection of Apple products, comprising 1,600 exhibits. Located on the second floor of the Plater building, the museum spans an area of 320 sqm.
Visitors will learn about the history of the American technology giant thanks to a specially created audio track based on a timeline of the company’s development.
Owned by Capital Park Group, the Norblin Factory is a multifunctional complex in the heart of Warsaw’s Wola district. After a long-term revitalisation of the former Norblin, Buch Brothers and T. Werner factories completed by Capital Park Group, it has reopened for the city with its enchanting historical buildings blended with modern architecture.
