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WILL POLAND RUN OUT OF VACANT WAREHOUSE STOCK SOON?
Savills anticipates that some of the immediate knock-on effects of the war in Ukraine on the Polish logistics market will include sustained demand for new warehouse projects amid construction difficulties and a prospect of rental growth in ready-to-occupy facilities.
“With the warehouse market continuing a trajectory of strong growth for years, the prospect of an undersupply seems hard to believe, but it is actually looming. Approximately 4.5 million sqm is currently in the pipeline, but developers will be facing shortages of building materials and labour. Due to strong demand and a potential influx of new companies from Ukraine, the overall vacancy rate, which hit a record low of 3.7 percent at the end of last year, is expected to edge down further,” says Katarzyna Pyś-Fabiańczyk, Head of Industrial Services Hub, Savills.
According to Savills, warehouse and industrial take-up in Poland hit an all-time high of 7.35 million sqm in 2021, marking a 41 percent increase year-on-year. With this result, Poland came second in Europe, behind Germany, outperforming such logistics powerhouses as the Netherlands, France, Spain and the United Kingdom.
Poland’s total industrial and warehouse stock stood at 23.8 million sqm at the end of 2021. The biggest completion was Amazon’s BTS facility totalling 203,500 sqm in Świebodzin, developed by Panattoni.
GLP LAUNCHES TWO LOGISTICS PROJECTS IN POLAND
GLP, an investor and developer of logistics warehouses and distribution parks, has launched two new logistics projects in Poland. GLP plans to deliver a total of approximately 240,000 sqm worth of projects in Poland in 2022. The two latest projects, scheduled to complete in autumn, are the third phase of construction at Poznań Airport Logistics Centre and a new building at Warsaw V Logistics Centre.
Both projects meet BREEAM certification requirements at the “Very Good” level.
Jarosław Czechowicz, Country Manager at GLP, remarks: “We started new projects in Poznań and near Warsaw in response to strong interest from clients in both locations. In both cases, we’re talking about buildings with very good access to key road routes situated in the immediate vicinity of a metropolitan area with a base of a few million end users.”
CAPITAL PARK’S POLSKI HAK INVESTMENT LAUNCHES
The Capital Park Group has signed the final purchase agreement in Gdańsk with a total area of 1.3 hectares at the Polski Hak. The planned project is a residential development accompanied by commercial functions. The winning architectural concept of the development is by the JEMS Architekci studio.
“The investment we are designing will be modern, addressing the expectations and needs of the fast-developing city of Gdańsk, implemented with environmental and climate change concerns in mind,” said Marcin Juszczyk, Member of the Management Board at Capital Park Group.
“It is an extraordinary place with great exposure, visible from many perspectives from land and water. Just as unique is the spatial context of the industrial areas adjacent to the project, although these will probably be transformed in the future,” said informs Marcin Sadowski, Architect and Partner at JEMS Architekci.
The project under preparation will predominantly serve residential functions with complementary retail and service outlets located on the ground floors of the buildings. A recreational promenade with gastronomic services open to all Gdańsk residents and tourists will play an important role.
Construction work is scheduled to start at the beginning of 2024.
HARD Rock Hotel opens in Budapest
The five-star lifestyle hotel has 136 rooms, two restaurants, and a bar. An event venue was also established on the roof of the building in downtown Budapest.
Due to the Covid-19 pandemic, the official opening was postponed but one of the two restaurants was kept running for months. Now the whole complex is available for guests.
The hotel, which is the first Central European member of the international Hard Rock Hotel chain, was developed by local company RedWood Holding and designed by Hungarian firm Studio 100 Architectural Ltd.
In addition to the rooms, restaurants, and rooftop space the hotel also has a collection of personal belongings from several world stars: Prince’s bright purple faux fur coat, one of Beyoncé’s black sequined dresses, Freddy Mercury’s handwritten letter, John Lennon’s notebook, Katy Perry’s performance dress and Madonna’s high school yearbook.