M Core, one of the largest, privately held commercial property collectives, has achieved remarkable success in the development of SBU (Small Business Unit) warehouses under its Multipark brand, signing projects across Europe including Zabrze and Bydgoszcz (Poland) and the construction of a new UK development at Multipark Burntwood.
In the UK, the portfolio of managed mixed-use industrial estates has expanded for M Core, now including small business units, warehouses, trade counters, logistics hubs, offices and leisure uses under the Multipark brand.
As such, construction is underway for a new development at Multipark Burntwood, this will fit in the existing complex totalling almost 100,000 sqm. The new development will include 10 units, each ideal for customer-facing industrial tenants. The scheme, totalling 4,810 sqm of speculative build units, is 50 percent pre-let with six units available ranging from 270 – 603 sqm, or 2,480 sqm in total. This scheme is set to complete in Q2 of 2024.
At this time, M Core’s warehouse and logistics portfolio in Poland is also growing under the Multipark brand. This currently includes three SBU buildings in Zabrze, with a total leasable area of 6,000 sqm, and one building in Bydgoszcz, covering 2,000 sqm. M Core also has a permit for a third unit located in Bydgoszcz, spanning approx. 3,000 sqm of leasable area. Unlike any other Multipark in M Core’s portfolio, this development also offers warehouse space in the traditional “big box” formula, with a total area of almost 27,000 sqm.
Noteworthy among the largest lease agreements signed this year in Poland are Schiessel Polska (600 sqm) and MSU Rental Company (300 sqm) at the Multipark in Bydgoszcz. As well as a large logistics industry, which has leased a total of over 1,600 sqm at the “big box” warehouse in Bydgoszcz. These significant partnerships showcase M Core’s ability to attract prominent businesses into the units.
Moreover, soon, M Core will start the construction of two more SBU buildings in a new European location (a total of approx. 5,000 sqm). The company has also finalised the purchase of a plot for another new project of this type, which will start in 2024.
Magdalena Kowalewska, COO of LCP Properties in Poland, part of M Core, expressed, “Looking at the enquiries we receive, it is clear that the SBU warehouse model is perfect for smaller online stores, start-ups or logistics operators, for whom it is convenient to have additional local warehouse space. Our goal is to open SBU warehouses in each of the former 49 Polish provinces within the next few years. This in turn means approx. 350,000 sqm of modern space for the dynamically developing market of small and medium-sized enterprises, which are the driving force of the Polish economy.”
Sebastian Macdonald-Hall, M Core’s Chief Investment Officer (Europe) added: “Across Europe, we are eager to continue to build and develop our portfolio of SUBs as part of our £1 billion investment target for 2023. Units of this size, situated beside major transport routes, will go a long way to help small businesses serve large cities and the communities we work with.”
SBUs are modular one or two-story buildings with a size of up to 5,000 sqm of leasable space per building. These are multifunctional facilities, enabling service, commercial, exhibition and storage activities. They are built in convenient locations in industrial or commercial surroundings, allowing for the efficient running of business including logistics and warehouse operations.