Poznan leads rising demand for warehouse space in Poland

24 Jul, 2007, Warsaw

ProLogis and Panattoni accounted for almost 30 per cent of total demand in H1 2007.

Around 640,000 sq m of leasing transactions took place in the Polish warehouse market in the first half of 2007, compared with 900,000 sq m for all four quarters of 2006, according to global real estate consultant Cushman & Wakefield.

The biggest rises in demand for warehouse space were in Poznan (118,500 sq m of warehouse space was leased in H1 2007, comparing with 118,000 sq m in 2006), Upper Silesia (165,000 sq m leased in H1 2007, and 167,000 sq m in 2006) and the Warsaw area (210,000 sq m in H1 2007, 280,000 sq m in 2006). Demand was generated mainly by logistics operators and retailers.

Poland’s modern warehouse stock currently stands at a total 3.15 million square metres, showing 43 per cent year-on-year growth, with a further one million square metres under construction. The most active warehouse construction regions are Warsaw (290,000 sq m under construction), Upper Silesia (250,000 sq m), Central Poland (180,000 sq m), and Poznan (170,000 sq m). Warsaw remains Poland’s dominant warehouse market, with a total stock of 1.7 million sq m, accounting for 54 per cent of the country’s modern warehousing.

Ferdinand Hlobil, Partner and Head of Cushman & Wakefield’s Central European Industrial Department, said: “Poland is currently one of Europe’s most dynamic warehouse markets. The country is clearly benefiting from its location on the main transport routes between Western Europe and Russia, as well as the Balkans and Scandinavia, its size, geographically and in terms of population, and the availability of modern industrial space at relatively low rents. In addition, development has been boosted by improvements in the transport infrastructure, in particular in the motorway system. Occupier demand is being driven by logistics operators, as well as retailers from Germany and the Nordic countries relocating their operations to Poland.”

After the analysis of lease transactions of H1 2007, the leading developers in terms of the volume of leased space are: ProLogis and Panattoni (almost 30 per cent of total demand each). They are also building the biggest number of warehouses at the moment. ProLogis has still the leading market position in terms of the volume of existing warehouse space with a 35 per cent share in the existing stock in Poland.

Cushman & Wakefield was involved in the leasing of nearly 100,000 sq m of warehouse space in H1 2007, equating to more than 15 per cent of total leasing transactions.

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