Record high amount of new industrial and

Record high amount of new industrial and

MARKETVIEW
Poland Industrial, H1 2015
Strong development activity within the
industrial and logistics market in Poland,
indicating a positive developer response
to both historical-low vacancy rates and
high tenant demand for warehouse space
5.5%
730,000 sq m
1.33 million sq m
460,000 sq m
*Arrows indicate change from H1 2014.
1 400
14 000
1 200
12 000
1 000
10 000
800
8 000
600
6 000
400
4 000
200
2 000
0
Total supply
Supply yearly
Figure 1: Space completed, under construction and total supply of modern industrial and logistics space (000 sq m)
0
2006
2007
2008
2009
2010
Completions
2011
Under construction
2012
2013
2014
H1 2015
Total supply
Source: CBRE Research, H1 2015.
HOT TOPICS:
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Total stock of modern industrial and logistics space
exceeding 9.3 million sq m.
Strong development activity. Ca. 730,000 sq m
under construction now.
Increase in developer interest in the East
and Szczecin regions.
Limited availability of vacant space. Average
vacancy rate for Poland at 5.5%.
Strong leasing activity throughout the whole
H1 2015, indicating a 20% increase y-o-y.
H1 2015 CBRE Research
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© 2015 CBRE sp. z o. o. |
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M A R K E T V I E W POLAND INDUSTRIAL
Figure 3: Largest lease transactions in H1 2015
Figure 2: Investment volume (million EUR)
3 500
3 000
2 500
2 000
1 500
1 000
500
0
Property
Size
(sq m)
Type
Tarnow Logistic Park
56,000
Renewal &
expansion
Q Tenant Region
2
2007 2008 2009 2010 2011 2012 2013 2014 2015
Office
Industrial
Source: CBRE Research, H1 2015.
Retail
Other
East
2 Leroy Merlin
Central Panattoni Park Strykow II 53,000
2 FM Logistic
Central
P3 Piotrkow
37,000
2
Flextronics
Central
Logicor Lodz II
27,100
1
Nissin
North
New
Renewal &
expansion
Renewal &
expansion
Goodman Torun Logistics
25,700
Centre
Renewal
Source: CBRE Research, H1 2015.
Figure 4:Total leasing activity (000 sq m)
Figure 5: Headline rents, Q2 2015 (EUR/ sq m/ month)
3 000
2 500
2 000
1 500
1 000
500
0
2007 2008 2009 2010 2011 2012 2013 2014 2015
Warsaw I
Warsaw II Wroclaw
Central
North
Szczecin
Source: CBRE Research, H1 2015.
GoodYear
Poznan
Krakow
Silesia
East
Figure 6: Largest projects’ completions in H1 2015
Warsaw City
Krakow
East
Wroclaw
Szczecin
North
Poznan
Central
Warsaw Region
Silesia
2.0 2.5 3.0
Source: CBRE Research, Q2 2015.
3.5
4.0
4.5
5.0
Figure 7: Largest projects’ commencements in Q2 2015
Region
Property
Size (sq m)
Region
Property
Size (sq m)
Poznan
Goodman Poznan II Logistics Centre
82,400
Central
Panattoni Park Strykow II
60,000
Warsaw II
P3 Mszczonow
46,200
Poznan
Clip Poznan
36,000
Poznan
Panattoni Park Poznan IV
35,000
East
Centrum Logistyczne Melgiewska
34,000
East
Goodman Lublin Logistics Centre
33,400
Warsaw II
Panattoni Park Grodzisk
27,700
Poznan
Segro Logistics Park Poznan Komorniki
32,000
Poznan
Panattoni Park Poznan III
26,000
Source: CBRE Research, H1 2015.
H1 2015 CBRE Research
5.5
Source: CBRE Research, Q2 2015.
© 2015 CBRE sp. z o. o. |
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M A R K E T V I E W POLAND INDUSTRIAL
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Figure 8: Market essentials, Q2 2015
Warsaw I Warsaw II Wroclaw
Poznan
Silesia
Central
North
Szczecin
Krakow
East
Poland
Existing
650,700
2,281,200
1,220,000
1,410,600
1,613,000
1,124,400
420,500
115,800
240,300
232,800
9,309,300
Planned total
739,300
3,557,900
2,013,900
2,258,300
2,181,200
1,811,800
1,130,600
208,200
387,200
619,700
14,908,100
Vacancy rate
10.8%
8.9%
1.9%
1.5%
7.4%
3.3%
1.9%
3.8%
4.2%
7.7%
5.5%
U/C
5,200
47,400
98,600
106,300
147,700
93,000
60,800
32,300
13,500
123,000
727,800
25,600
159,900
68,100
28,700
98,100
152,200
24,500
31,700
17,800
95,800
702,500
4.00-5.50
2.50-3.40
3.00-3.90
2.80-3.50
2.50-3.50
2.80-3.80
2.50-3.20
3.10-3.70
3.50-4.90
3.00-4.20
2.50-5.50
Take-up
Headline rents
(EUR/ sq m/
month)
Source: CBRE Research, Q2 2015.
H1 2015 CBRE Research
© 2015 CBRE sp. z o. o. |
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M A R K E T V I E W POLAND INDUSTRIAL
North
Szczecin
Poznan
Warsaw I & II
Central
Wroclaw
East
Silesia
Krakow
Existing stock
CONTACTS
Under construction
CBRE OFFICE
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