Up and away in Wrocław
Today, however, the supply of modern warehouse space in the city is huge and amounts to around 254,000 square meters.
Pessimism has turned to optimism in the south-western city and several distribution centers are planned for development there in the near future. One of the most advanced of these will be delivered by the Portuguese developer Tiner in Kęty Wrocławskie over the next two years. This will consist of four buildings totaling 88,000 square meters and ProLogis and Parkridge are also lining up significant projects near the city.
As things stand, Wrocław's logistics centers are concentrated along the road leading to Warsaw and also in the north-western part of the city; this trend is likely to continue as long as Wrocław does not lose its ability to attract foreign investors. Fortunately, the local authority maintains a positive approach to new investment and it is relatively easy to embark on new projects in the city. Investors can count on incentives such as a property tax relief and support with infrastructure development. Mayor Rafał Dutkiewicz has himself contributed to the favorable investment climate with his policy of fostering co-operation between the local authority and private investors, which is still a very unique stance as far as Poland is concerned.
Wrocław compares favorably with even Warsaw in this regard and a number of foreign manufacturers such as Volvo, the Cussons Group, ABB and others have decided to establish production facilities there, rather than in the capital or its immediate vicinity. Such a presence of manufacturing companies inevitably attracts interest from warehouse developers and these include operators such as Raben and Koelner, who are planning to start construction of their own buildings in Wrocław, as well as those higher profile developers such as ProLogis and Parkridge.
As most of the existing premises in and around the city are owner occupied, (80 percent of the total stock), the warehouse boom is likely to continue over the next few years because of the comparatively low level of lease transactions currently on the Wrocław market. A report by the International Advisory Search for Trade & Finance in July 2004 stated that developers are ready to invest heavily in this immature urban sector and total investment could well exceed €200 million by 2010. If the local authority goes ahead with its plan to build a large Technological Park near the airport, the investment boom in Wrocław might be further sustained by the arrival of advanced technology and innovative entrepreneurs to the city.
Pessimism has turned to optimism in the south-western city and several distribution centers are planned for development there in the near future. One of the most advanced of these will be delivered by the Portuguese developer Tiner in Kęty Wrocławskie over the next two years. This will consist of four buildings totaling 88,000 square meters and ProLogis and Parkridge are also lining up significant projects near the city.
As things stand, Wrocław's logistics centers are concentrated along the road leading to Warsaw and also in the north-western part of the city; this trend is likely to continue as long as Wrocław does not lose its ability to attract foreign investors. Fortunately, the local authority maintains a positive approach to new investment and it is relatively easy to embark on new projects in the city. Investors can count on incentives such as a property tax relief and support with infrastructure development. Mayor Rafał Dutkiewicz has himself contributed to the favorable investment climate with his policy of fostering co-operation between the local authority and private investors, which is still a very unique stance as far as Poland is concerned.
Wrocław compares favorably with even Warsaw in this regard and a number of foreign manufacturers such as Volvo, the Cussons Group, ABB and others have decided to establish production facilities there, rather than in the capital or its immediate vicinity. Such a presence of manufacturing companies inevitably attracts interest from warehouse developers and these include operators such as Raben and Koelner, who are planning to start construction of their own buildings in Wrocław, as well as those higher profile developers such as ProLogis and Parkridge.
As most of the existing premises in and around the city are owner occupied, (80 percent of the total stock), the warehouse boom is likely to continue over the next few years because of the comparatively low level of lease transactions currently on the Wrocław market. A report by the International Advisory Search for Trade & Finance in July 2004 stated that developers are ready to invest heavily in this immature urban sector and total investment could well exceed €200 million by 2010. If the local authority goes ahead with its plan to build a large Technological Park near the airport, the investment boom in Wrocław might be further sustained by the arrival of advanced technology and innovative entrepreneurs to the city.
