On the road to Helsinki

Joeston Invest within SP Transit Poland has laid the cornerstone for a new warehouse on a 10-ha plot in Karpin, near Radzymin, in Warsaw.

The first stage, which will include some 5,000 sqm of warehouse space and 1,200 sqm of offices, is scheduled for completion in August 2007. The total value of the development is EUR 10 (zł.39.7) million. The developer already has four tenants for the first stage of the development.

"The new warehouse will be located in the 'B zone'. The competition is high, but we will be located near Via Baltica, the route leading to Helsinki, which is planned for completion within the next two years. We don't have many competitors on this side of Warsaw and we are quite a flexible provider of warehouse space with a regional strategy," says Arkadiusz Prejna, managing director of SP Transit.

According to Prejna, further expansion of the complex is planned. The first stage will cost some EUR 5 million (zł.19.8) because the developer has to invest in the infrastructure. Depending on demand, the company could build warehouses and offices with a total space of 30,000 sqm, which would cover 30 percent of the whole plot.