Coffee with Craig Show – daily CRE news covering the CEE region, Wednesday, June 8 with Winston Norman, Editor and Chief of EuropaProperty.com.
Supply chains will continue to drive investor appetite for warehouses globally
According to Savills, 2021 saw £237 billion invested into the logistics sector globally (an £81 billion increase y-o-y) plus record take-up for logistics assets. Savills expects European online sales will be 25 percent of total spending in 2025, compared to 15 percent in 2020.
Marcus de Minckwitz, Head of EMEA Industrial & Logistics, Savills, says: “E-commerce in the UK was about five years behind the US, and continental Europe is about five years behind the UK, so we have very strong growth ahead. Amazon is only recently established in Poland and Spain for example.”
In the last two years, the upheaval due to Covid and the current geopolitical crisis in Ukraine has meant that companies all over the world have undoubtedly encountered issues with their supply chain.
Kevin Mofid, Director, Head of EMEA Industrial and Logistics Research, comments, “Securing these supply chains requires companies shifting from a ‘just in time’ philosophy, to a ‘just in case’ strategy, and this means not only increasing their inventories, but also the nearshoring of their manufacturing.”
With a lagging development pipeline, most markets globally look to remain undersupplied for the foreseeable future, which supports continued rental growth.
Savills advises that the supply pressure will force the industry to innovate and we will see more multi-storey warehousing in Europe, especially in the best sites near major cities. The integration of a higher level of technology in the industry will also be essential to prevent future supply chain challenges.
OTP Bank inaugurates new office building in Budapest
Hungarian lender OTP Bank’s new 84,000 sqm complex, built by Market Zrt. and called M12, is 7 stories high.
The complex has been awarded the Gold rating of the LEED environmentally friendly building certification system. The building also has a state-of-the-art management system for the efficient operation of various energy-producing devices.
The bank expects to have more than 3,000 employees working in the new office building by mid-July.
New tenants for renovated E.Leclerc store in Zamość
DIY store Mrówka has opened as part of the expansion and modernization of the recently refurbed E.Leclerc shopping centre in Zamość. Together with the external department “home and garden”, it occupies an area of around 5,200 sqm GLA. A Sinsay store of 800 sqm has also joined the group of tenants of E.Leclerc.
E.Leclerc Shopping Center in Zamość is one of the most visited retail outlets, both bBOIGy the inhabitants of the city and the entire area with over 100,000 inhabitants. The total area of the expanded E.Leclerc centre currently amounts to about 12,500 sqm GLA.
BOIG Property Consulting is responsible for the commercial concept and space rental of the facility.
Apsys starts residential construction in Warsaw
Apsys Polska has started its first residential investment in Warsaw. The general contractor of the project is FineTech Construction. The developers of the project are Apsys Polska in cooperation with SK Management. Solea is a boutique investment consisting of two four-story buildings with 91 functional apartments.
The investment has already received the BREEAM Interim certificate at the Very Good level, which was obtained at the Design Stage. The general contractor, FinTech Construction, places particular emphasis on the economical use of raw materials, reduction of pollution and the use of low-emission environmentally friendly materials. Respect for the natural environment will also be a priority – external green areas will be developed by the principles of biodiversity, and their care will be carried out with the use of an economical irrigation system. There will also be innovative anti-smog pavements around the investment.
“We want to consistently implement good pro-ecological practices,” says Cyril Plumecoq, member of the Management Board of Apsys Polska.
“The SOLEA project is another BREEAM-certified project in our portfolio, including the second, fully certified by the BREEAM Manual 2016 guidelines for residential buildings,” adds Włodzimierz Bogiel, president of FineTech Construction.”
The investment completion date is planned for the first quarter of 2024.
Morska Agencja Gdynia leases 22,800 sqm from Panattoni
Morska Agencja Gdynia, a specialist provider of sea, land and rail freight services, has leased 22,800 sqm of warehouse space in a build-to-suit facility at Panattoni Park Tricity East V. The tenant was advised during lease negotiations by Newmark Polska.
“The Covid-19 pandemic and the war in Ukraine have disrupted supply chains across the board. The previous business strategy based on holding minimum inventory is ineffective in the current environment,” says Krzysztof Laskowski, Vice President of the Management Board, Morska Agencja Gdynia.
“To accommodate its rapid growth and increased demand for warehouse space, Morska Agencja Gdynia opted for leasing the whole building in Panattoni Park Tricity East V,” says Michał Rafałowicz, Regional Director, Newmark Polska.
“The park’s strength lies in its proximity to the A1 motorway, Tricity’s ring road, and the Deepwater Container Terminal in Gdansk,” says Martyna Sochaczewska, Leasing Director, Panattoni.
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