Octava Property Trust (OPT) has sold a development plot for an SBU warehouse project to an Austrian investor. According to real estate advisory firm Savills, engaged in the search for investors in partnership with Avison Young, Warsaw is the fastest-growing warehouse market in Poland.
The 1.3-hectare plus development plot is located near Chopin Airport, close to the junction of Krakowska Avenue and Warsaw’s southern ring road.
“The location of the plot within the logistics cluster of the international airport guarantees access to an efficient transport network and a convenient link to many distribution centres. It is excellent for the construction of an urban SBU warehouse that will successfully support logistics operators active in the Warsaw region,” says Henryk Rytwiński, Octava Property Trust.
The plot was acquired by an Austrian investment fund with a view to building an approximately 8,000 sqm SBU on it. The smallest warehouse units in the planned development will start from around 500 sqm of warehouse and exhibition space and around 100 sqm of office space.
“The area around Warsaw Chopin Airport is one of the most attractive locations for urban logistics. Its key advantages attracting investors targeting industrial assets include proximity to key national roads and motorways and a large consumer market. Warsaw is the fastest-growing warehouse market in Poland, and there is particularly high demand for smaller spaces (modules) from commercial companies and the e-commerce sector,” says Rafał Bochenek, Land Acquisition Manager, Savills.
Real estate advisory firms Savills and Avison Young represented the seller in what was their second joint transaction in recent weeks. The Penteris law firm provided legal advisory to the vendor throughout the sale process.
“The fast-growing warehouse market for smaller tenants is driving demand for prime sites, with strong occupier interest in warehouse and office space in Small Business Units keeping vacancy rates in this segment at a very low level. Thanks to still relatively low rental rates compared with other European countries, Poland continues to attract tenants and remains an attractive investment destination,” says Bartłomiej Krzyżak, Senior Director, Investment, Avison Young.
Octava Property Trust (OPT) is the owner of 12 properties in Poland, most of which are located in Warsaw and other large urban areas such as Wrocław, Poznań and Tricity. It has a total of approximately 150,000 sqm of leasable office and retail space.