DTZ's attractive figures
According to the firm, the first quarter of 2005 did not bring any significant trends for the industrial and logistics market, but saw a continuation of the positive sentiment from 2004. Although Warsaw continues to dominate, the regions are building momentum in the sector.
Two scheme were unveiled in Q1 this year, adding 33,000 sqm to the total warehousing stock, with another 300,000 sqm under construction nationwide. Many of these schemes are due to come online this year. A number of major development plans have been implemented and DTZ says 500,000 sqm could come on the market before the year's end.
Take-up last year reached record highs, and showed little sign of significantly slowing this year. Some 132,520 sqm was leased in Q1 2005, three times higher than the same period last year.
This caused vacancy rate to fall to 4.71 percent, with 72,650 sqm of space available. Rent remained stable, at between EUR 3-5.50 (zł.12.20-22.40) in Greater Warsaw and from EUR 3-3.60 (zł.12.20-14.65) elsewhere.
DTZ's retail data covered H1 2005. It says total modern stock is now at 5.1 million sqm, with Mazowieckie and Upper Silesia accounting for 29 and 19 percent of the total stock respectively. Of the 184 schemes above 10,000 sqm, 37 are located in and near Warsaw.
The first half saw a large amount of stock introduced to the market, with four major projects opening their doors: Galeria Kazimierz in Kraków; Marcelin Shopping Center and Poznań Plaza in Poznań; and Maximus at Nadarzyn near Warsaw. Several smaller schemes, including the AKS Shopping Center in Chorzów, Piekary in Legnica and Galeria Gniezno also came on the market, with total new stock coming to 232,000 sqm.
This will rise to 486,000 sqm by the end of the year. Several major projects are due in regional cities. Tri-City will see the opening of Fashion House Gdańsk and Rumia Multiport, a factory outlet, hypermarket and shopping gallery in one. Galeria Copernicus is due to open soon in Toruń and stands at 35,000 sqm. The Katowice Silesia City Center project will add 65,000 sqm of retail stock to the city.
Demand remained high for both high street locations and shopping center units, according to DTZ, with positive economic forecasts and improving urban retail figures pushing the expansion of Polish and international chains, with some Polish companies dipping their toes in international waters, including LPP/Reserved, KAN/Tatuum and Quiousque.
Rents, for the most part, have remained stable in the sector. Strong competition is making retail a tough market, but the best located schemes with a good tenant mix are likely to see some rental growth, according to DTZ.
High-street rents tend to be higher than shopping-center rents, mainly due to limited supply, with rents in Kraków and Warsaw set to reach EUR 60-75 (zł.245-305) per sqm per month.
Two scheme were unveiled in Q1 this year, adding 33,000 sqm to the total warehousing stock, with another 300,000 sqm under construction nationwide. Many of these schemes are due to come online this year. A number of major development plans have been implemented and DTZ says 500,000 sqm could come on the market before the year's end.
Take-up last year reached record highs, and showed little sign of significantly slowing this year. Some 132,520 sqm was leased in Q1 2005, three times higher than the same period last year.
This caused vacancy rate to fall to 4.71 percent, with 72,650 sqm of space available. Rent remained stable, at between EUR 3-5.50 (zł.12.20-22.40) in Greater Warsaw and from EUR 3-3.60 (zł.12.20-14.65) elsewhere.
DTZ's retail data covered H1 2005. It says total modern stock is now at 5.1 million sqm, with Mazowieckie and Upper Silesia accounting for 29 and 19 percent of the total stock respectively. Of the 184 schemes above 10,000 sqm, 37 are located in and near Warsaw.
The first half saw a large amount of stock introduced to the market, with four major projects opening their doors: Galeria Kazimierz in Kraków; Marcelin Shopping Center and Poznań Plaza in Poznań; and Maximus at Nadarzyn near Warsaw. Several smaller schemes, including the AKS Shopping Center in Chorzów, Piekary in Legnica and Galeria Gniezno also came on the market, with total new stock coming to 232,000 sqm.
This will rise to 486,000 sqm by the end of the year. Several major projects are due in regional cities. Tri-City will see the opening of Fashion House Gdańsk and Rumia Multiport, a factory outlet, hypermarket and shopping gallery in one. Galeria Copernicus is due to open soon in Toruń and stands at 35,000 sqm. The Katowice Silesia City Center project will add 65,000 sqm of retail stock to the city.
Demand remained high for both high street locations and shopping center units, according to DTZ, with positive economic forecasts and improving urban retail figures pushing the expansion of Polish and international chains, with some Polish companies dipping their toes in international waters, including LPP/Reserved, KAN/Tatuum and Quiousque.
Rents, for the most part, have remained stable in the sector. Strong competition is making retail a tough market, but the best located schemes with a good tenant mix are likely to see some rental growth, according to DTZ.
High-street rents tend to be higher than shopping-center rents, mainly due to limited supply, with rents in Kraków and Warsaw set to reach EUR 60-75 (zł.245-305) per sqm per month.
