Polish industrial market breaks the 10 million sqm barrier
14:02
Poland’s industrial and warehouse stock crossed the 10 million s m threshold in Q1. As much as 418,000 sqm of new space was delivered to market in the first three months of the year. This makes Poland the ninth largest market in Europe, consultancy JLL said in a report.
"We witnessed a particularly strong opening to the year on the Polish industrial market. In Q1 2016, total demand reached 680,000 sqm, which was the best first quarter result in the last decade and augurs well for the remainder of the year," Tomasz Mika, Head of Industrial Poland, JLL.
At the end of Q1 2016, the vacancy rate stood at 6.7 percent, which represented a small increase on Q4 2015's 6.2 percent. The highest vacancy rate is in the Warsaw Suburbs (11.8 percent of overall stock). Smaller markets, such as Szczecin and Opole have a 0 percent vacancy rate.
In Q1 2016, the highest occupier activity was recorded in the Warsaw Suburbs, where tenants leased a total of 184,000 sqm, followed by Upper Silesia (142,000 sqm) and Poznań (123,500 sqm). The biggest lease agreement was signed by Kaufland (45,000 sqm) in Panattoni Park Bydgoszcz. By the end of Q1 2016, Poland’s total industrial and warehouse stock was 10.37 million sqm. 418,000 sqm of new space was delivered to market in the first three months of the year.
