P3 plans new 42,800 sqm warehouse in P3 Bucharest park – EuropaProperty

P3, the specialist owner, developer and manager of European logistics property, is preparing to start construction of a third new warehouse at P3 Bucharest park. The new 42,800 sqm building is to be developed to respond to the live requirements of current customers that are planning to expand their businesses in Bucharest. The remaining space will be available for lease to potential clients. Since its purchase of the park at the beginning of 2015, P3 has commenced construction of 47,100 sqm in two units as part of a deal to deliver a new logistics hub for Carrefour.

The new logistics facility, which will comprise 41,800 sqm of warehouse space and mezzanine offices of 1,000 sqm, is scheduled to be completed in summer 2016. It has been designed to meet P3’s highest build and environmental standards. It features a height of 11.5 m, higher than the majority of industrial stock in Bucharest, which allows customers to benefit from extra storage space.

Laurențiu Duică, P3’s Head of Leasing for Romania, said: “There is strong demand for space from our current clients at P3 Bucharest who are planning to expand. P3 is ready to respond to their needs and we are happy that we can expand P3 Bucharest even further.”

Blake Horsley, P3´s newly appointed Country Head for Romania, said: “The Bucharest market currently has very few large spaces available and there is even less availability in the city’s prime logistics area surrounding P3 Bucharest. As such, we are looking forward to bringing our latest new building to the market in summer and working with both our existing and new customers to provide them with quality logistics space to help them grow their business.”

Once the three new buildings are finished, P3’s portfolio in Romania, which already includes eight warehouses at P3 Bucharest park, will increase to circa 305,000 sqm GLA. Strategically located 13 km west of Bucharest’s city centre, P3 Bucharest has the potential to provide a further 51,980 sqm of new space, in units ranging from 4,000 sqm to 40,000 sqm, in addition to the current developments.