Panattoni Europe, market leader in industrial real estate in Europe, is expanding its city logistics warehouse network. The 38,000-square-metre City Logistics Łódź II will be built in the eastern part of Łódź. The facility tailored to the needs of tenants seeking small units will be available from February 2020. Consequently, the total space in Polish city logistics projects delivered by Panattoni will go up to nearly 160,000 sqm. The developer is also taking the concept abroad – with Berlin as the first target.
The contract signed on 31.10.2019 with Road Works Company MTM S.A. for more than 3.2 million gross includes: reconstruction of road connecting yard at warehouse W2 with asphalt road under E. Kwiatkowski flyover, with redevelopment of existing water, sewage and electricity installations.
The contract signed today fits into the vast investment plan PoGA has for this part of the port. “To remind you – at present we are holding construction works in this area of our port within projects: “Reconstruction and electrification of the railway system” and “Construction of technological route connecting Logistyczna and Kontenerowa streets”. We are also closing the process of obtaining a building permit for the “Construction of intermodal terminal” and “Construction of manoeuvring and storage yards” on Logistic Centre area,” explains Grzegorz Dyrmo, Vice president of the Port of Gdynia Authority S.A. “And last month, thanks to the great involvement and hard work of the team I lead – top level engineers – we put the new high-storage warehouse into service,” he adds.
And this is how next to great investments, whose single cost of performing works is calculated in tens or even hundreds of millions PLN, the Port of Gdynia Authority completes numerous smaller, yet equally important tasks related to restoring appropriate technical condition and improving functionality of possessed estate.
“Here I would use the example of “Reconstruction of parking lot for route cars at Kontenerowa street, including underground utilities” and “Reconstruction of passenger car parking lot surface including underground utilities at 60 Kwiatkowskiego street”, plus the construction mentioned above and performed by MTM,” continues Vice President Dyrmo.
“One glance at our map shows that investments cover most of our areas in this part of the Port. One may conclude that we are completing two complementary investment plans. One is related to the development and increase of Port’s cargo handling capacities, the other is revitalization and boosting functional properties of the existing assets,” sums up Grzegorz Dyrmo.
Source: Port Gdynia
Tomasz Lubowiecki, 7R President talks about how from a local player, 7R became one of the leading real estate developers in a special issue of Eurobuild industrial magazine distributed during EXPO REAL 2019 in Munich.
Panattoni Europe, industrial real estate leader in Europe, will lease over 21,000 sqm to InPost in four distribution centers - Toruń, Bydgoszcz, Szczecin and Opole. The increasingly dense network of Panattoni warehouses, covering areas also outside major agglomerations, presents an attractive proposition for logistic companies which witness a rapid e-commerce development and therefore they strive to be closer to the customers. Hence, the warehousing facilities leased to InPost will feature sorting services for the growing number of InPost Paczkomat® self-service parcel outlets and InPost Kurier services. The sorting operations in the warehouses will start in the first quarter of 2020.
Data from the international real estate advisor shows that rising levels of ecommerce, across all European markets tracked by Savills, has helped to create unprecedented levels of demand from occupiers across Europe.
In markets such as the UK, the Netherlands, Germany and France, where over 10% of all retail sales are made online, take up levels stood at 1.5m sq m, 2.0m sq m, 2.9m sq m and 1.4m sq m respectively, as growing demand from retailers continued to shape the upwards trajectory.
“While countries such as the UK, Germany and the Netherlands continue to attract the most interest, we are seeing a huge uptick in logistics activity across Iberia and CEE, as the European distribution network further grows,” comments Marcus de Minckwitz, Director in the Regional Investment Advisory Division, Savills EMEA.
“And, as vacancy rates continue to fall across Europe, particularly in core markets, we expect to see further rental growth in the short to medium term as development is unable to keep up with the growth in demand across the majority of markets. This will be most felt on prime assets in strategic locations, near major highways, ports and airports, with competition for these locations more fierce than ever before. The clear need for occupiers to have a presence in these locations therefore attracts significant investor interest, which is driving prime pricing to record levels.”
Although the UK and Germany reported weaker performances (-19% and -18% respectively), shaped by a lack of appropriate product on the market, countries including Sweden (+91%), Poland (+83%), Czech Republic (+80%) and Norway (+16%) all exceeded their five year H1 average investment volumes.
Strong investment volumes in recent years has resulted in yield compression for the larger markets. Savills has recorded that average European prime logistics yields compressed 20bps from 4.9% to 4.7% during H1 2019, though generally remained steady for the core markets (Chart 5). Further inward yield movement has been witnessed for Prague (-150bps), Stockholm (-30bps) and Madrid (-25 bps) during the first half of the year.
The total investment volume in Poland in the first half of 2019 amounted to approximately EUR 423 million, which reflected ca. 25% growth year-on-year. Gross demand in H1 2019 amounted to 1.8 million sq m, down by 16% y-o-y.
John Palmer, Head of Industrial Investment, Savills Poland, says: “Poland industrial and logistics is on the front page and a must have for expansion of fund manager portfolios. Available income producing stock to purchase is limited and highly sought-after. Because of this more complex means of acquisition of investments such as forward funding and forward purchase are becoming common.”
Source: Savills
POLAND The extension to the LPP distribution centre in Pruszcz Gdański has been topped off and general contractor Dekpol has started the finishing work on the office area.
POLAND Hillwood is expanding its logistics centre in Marki near Warsaw and is building a 5,600 sqm building for Alcomex, a producer of torsion springs.
Panattoni Europe, industrial real estate leader in Europe, invests in Cuiavia-Pomerania. Construction works at Panattoni Park Toruń II with more than 62,500 sqm are about to start in the coming July. The distribution centre will be put into operation as soon as Q1 2020.
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