CTP, Europe’s largest listed developer, owner and manager of industrial and logistics properties by GLA is entering the Pomeranian regional warehouse market in northern Poland construction begins at CTPark Gdańsk Port. The Park is set to be the first investment in that region in the company’s portfolio with an overall cost of €72 million, including land acquisition, and a yield on cost of around 10 percent, and will offer tenants two buildings with a total area of almost 119,000 sqm. The first phase of the project is scheduled for completion in the fourth quarter of this year.
Bogi Gabrovic, CFO at CTP Poland said: “Poland is one of CTP’s key markets in the development of our Group portfolio. We are betting on strategic locations that respond to the needs of logistics and light industry coupled with where there is a shortage of appropriate modern space. It therefore felt natural for our business to expand to the north of the country in the vicinity of the largest container terminal on the Baltic Sea. As part of CTPark Gdańsk Port, we will build two facilities with rentable areas of nearly 81,400 sqm and 37,500 sqm each.”
The construction plot on which CTP is building the new industrial and logistics park, is located within the Pomeranian Investment Centre and near the only deep-water terminal in the Baltic Sea region – the Baltic Hub (DCT) – which directly receives shipping trade from the Far East. The location has a direct connection between the Port of Gdansk and the Gdansk Port Północny railway station with its extensive onward rail routes, allowing easy access for companies conducting cross-border business with the Scandinavian and Baltic countries.
Work on the investment will begin this quarter. This is the company’s first project in Poland without a local general contractor, CTP Group will be responsible for the construction of the complex.
Piotr Flugel, Country Construction Director and COO at CTP Poland said: “This operational model has already proven itself in our developed markets, allowing us to make use of the advantages resulting from the scale of CTP’s Group operations which will allow us to maintain greater control over the quality and progress of the work performed. Ultimately, the ability to bundle construction works directly to a contractor allows for flexibility in the entire process and ultimately leads to lower construction costs.”
The 12-metre-high complex will be equipped with environmentally friendly features to provide energy and cost efficiencies for tenants. The roofs of both buildings will be equipped with photovoltaic installations which will allow a total of 11.6 MWp of solar energy to be generated, equivalent to meeting the energy needs of more than 2,000 residential homes and reducing the amount of CO2 generated by almost 6,000,000 kg/year. This energy will be used to benefit nature conservation and help power the tenants running their industrial operations here.
Workplace comfort will be improved by, among other things, amplifying the amount of natural daylight the dock (+8 percent) and production areas (+12.5 percent) receive. The quality and scale of the sustainable technologies used will be confirmed with a minimum BREEAM ‘Excellent’ certification.