Record development activity in warehouse sector – report

More than 1.6 million sqm of warehouse and industrial space was under construction in Poland at the end of H1 2017, twice as much as at the end of H1 2016, according to a recent report by Savills. Almost 800,000 sqm of warehouse and industrial space was completed in the country in the first half of this year, which marks a 17-percent increase y/y with the total new 2017 supply likely to exceed the 2016 level of 1.2 million sqm, the study said. The largest ongoing developments include two BTS projects that Panattoni Europe is developing for Amazon in Szczecin and Sosnowiec (comprising 161,000 sqm and 135,000 sqm of space respectively) and a BTS scheme that Goodman is developing for Zalando in Szczecin (130,000 sqm).

According to Savills data, the leasing volume in the sector reached 1.9 million sqm in H1 2017 and was almost 50 percent higher than in H1 2016 (1.3 million sqm). The vacancy rate in the period remained at the relatively low level of 5.9 percent and is not expected to grow significantly in the coming months.

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