At a Glance Industrial Q4 2014 en v2.indd
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At a Glance Industrial Q4 2014 en v2.indd
At a glance INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND Q4 2014 MARKET SUMMARY Continous levels of strong occupier demand also resulted in a large amount of new completions, bringing annual supply to over 1 million sqm, of which 37% was accounted for by three BTS (built-tosuit) projects delivered for Amazon.com by Panattoni and Goodman in Wrocław (2) and Poznań regions. At the end of 2014 the total stock of modern warehouses in Poland reached 8.75 million sqm. The landlord market is dominated by ProLogis, with 25% of the stock, followed by Segro with 11% market share. In 2014, new players entered the industrial & logistic market in Poland through portfolio acquisitions, namely Logicor and Hillwood with Logicor already owning 9% of stock. Market share of warehouse stock by landlord, end of 2014 After recording a slight upward trend in the hotspots of Poznań, Kraków and Tri-City back in the latter part of 2014, no significant rent fluctuations were recorded in the last quarter of 2014. The investment market for industrial & logistic assets has also been very active, pushing the yields down to 7.15-7.25% for prime properties. Investments in warehouse assets traded in 2014 amounted €707 million, which accounts for 26% of total capital spent on properties last year. For the first time the industrial & logistic sector overtook retail in terms of volume invested. Cromwell (formerly Valad) 2% Hines 3% Given a substantial boost in take-up, vacancy rate as of December 2014 fell by 4.6 p.p. to as low as 5.7%, which is the lowest rate of over a decade. BNP Paribas Real Estate expects this trend to temporarily reverse in the mid-term horizon given the large pipeline supply planned for coming months. Hillwood 3% Panattoni 4% MLP 4% Others 28% P3 Group 5% Source: BNP Paribas Real Estate Having achieved over 2.5 million sqm of gross letting activity, 2014 was a record year for industrial and logistic market in Poland. Renegotiations accounted for approximately 30% of transactions. Goodman 5% Logicor 9% Prologis 25% Segro 11% MAP OF INDUSTRIAL & LOGISTICS HUBS & TRANSPORTATION NETWORK 6 Gdańsk Olsztyn BNP Paribas Real Estate has divided the industrial & logistics market into the 7 primary and 4 secondary hubs as marked on the map. 3 Szczecin 2 Bydgoszcz Gorzów Wlkp. Białystok Toruń 4 Poznań Primary Hubs: 1. Warsaw I & Warsaw II 2. Upper Silesia 3. Central Poland 4. Poznań 5. Wrocław 6. Tri-City Secondary Hubs: 1. Kraków 2. Bydgoszcz / Toruń 3. Szczecin 4. Rzeszów / Lublin MAJOR NATIONAL ROADS HIGHWAYS: EXISTING UNDER CONSTRUCTION PLANNED EXPRESS ROADS: 1 Warszawa 3 Zielona Góra Łódź 5 4 Piotrków Tryb. Wrocław Lublin EXISTING UNDER CONSTRUCTION PLANNED Opole 2 Katowice 1 Kielce Kraków 4 Rzeszów 1 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 PRIMARY HUBS1 Warsaw I & Warsaw II The largest market in Poland is split into two zones: Warsaw 1 Hub serves mainly the agglomeration, with some schemes providing services also to the regions. Many projects within this hub are let in smaller units when compared to typical out-of-town logistic parks. It is has experienced a lot of recent letting and reletting activity and records the highest rental rates across Poland. • Warsaw I – within Warsaw boundaries, holding 7.5% of the market share in terms of supply, • Warsaw II – within 50 km radius from the city boundaries accounting for 25.9% of market share. No scheme was delivered in Zone 1 or in Zone II in Q4 2014. In H1 2015 the stock will increase by a further 8,500 sqm in Zone 1 and 26,200 sqm in Zone 2. The hub benefits from the critical mass of the Warsaw agglomeration, its central location in Poland and convenient transportation links with other parts of Poland as well as Europe. Kles zczo wa 62 61 Wieliszew W-WA RAKÓW 10 9 7 21 8 14 Nieporęt LEGIONOWO Czosnów 12 OBW 23 ODNPOŁU ICA DNIO WA WA RSZ AW Y (S 2) Jabłonna 7 13 Łopu szań ska E77 6 AL .K RA KO W SK A NOWY DWÓR MAZOWIECKI N a ow zur ola ow Nar ew Pomiechówek AL .J ER OZ OL IM SK IE Ryż ow a WARSAW I Lotnisko Warszawa Okęcie im. Fryderyka Chopina Szys zkow a KOBYŁKA ŁOMIANKI WOŁOMIN MARKI 5 1 Izabelin C 19 20 16 Stare Babice ZIELONKA 18 3 24 11 22 S2 PIASTÓW A2 Opacz E30 WARSZAWA S8 OŻARÓW MAZOWIECKI BRWINÓW E67 ZĄBKI 15 E30 S8 13 7 8 21 9 10 6 14 12 23 2 17 JÓZEFÓW Janki PODKOWA LEŚNA OTWOCK 79 Lesznowola Nadarzyn a Utrat E67 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 4 PRUSZKÓW 8 2 PIASECZNO KARCZEW KONSTANCIN-JEZIORNKA 7 0 2 4 6 Wisła E77 8 km 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. Annopol Business Park Bokserska Distribution Center City Point Diamond Business Park Ursus Distribution Park Annopol Distribution Park Okęcie Gate One Airport House Ideal Distribution Centre Ideal Idea III Kolmet Krakowska Distribution Center Łopuszańska Business Park Manhattan Business & Distribution Center Metropol Park Jagiellońska Norblin Industrial Park Platan Park Prologis Park Warsaw II Prologis Park Warsaw – Żerań Segro Business Park Warsaw, Żerań Space Distribution Center Ursus Logistic Center Warsaw Distribution Center Żoliborskie Centrum BiurowoMagazynowe 1. Supply of over 200,000 sqm 2 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 KEY INDICATORS AND TRENDS WARSAW I WARSAW II Total existing supply 636,300 sqm 2,197,350 sqm Under construction* 8,500 sqm 37,100 sqm Vacancy rate Rent range 13.3% 7.3% €3.40-5.00 per sqm/month €2.50-3.20 per sqm/month * As of December 2014 Świercze WARSAW II Nowe Miasto Płońsk Dzierzążnia Winnica Pokrzywnica Zatory 61 Nasielsk Joniec 50 J. Zegrzyńskie 62 7 W kra Załuski Naruszewo E77 85 Zakroczym 62 Czerwińsk nad Wisłą Na rew 62 Dąbrówka Wieliszew NOWY DWÓR MAZOWIECKI Leoncin Czosnów Jabłonna Bzura Kampinos ra t a Ożarów Teresin Pisia 50 Baranów Wiskitki A2 Podkowa Leśna 8 E30 41 GRODZISK MAZOWIECKI Radziejowice Puszcza Mariańska 22 34 MSZCZONÓW Wiązowna Józefów Raszyn 24 79 5 30 28 43 14 Rawka 29 Karczew Góra Kalwaria Tarczyn 7 Prażmów 50 2 Sobienie-Jeziory Chynów GRÓJEC 1 Biała Rawska Konstancin-Jeziorna 9 10 Kowiesy Nowy Kawęczyn OTWOCK PIASECZNO 3 S8 50 Pniewy WARSZAWA 13 E77 Żabia Wola 2 Wisła ŻYRARDÓW E67 E30 Lesznowola Nadarzyn Utrata Jaktorów 70 Sulejówek Mazowiecki S8 12 15 32 23 6 21 25 31 42 26 40 20 17 39 19 Błonie 27 44 18 Pruszków 4 7 37 Brwinów 33 38 Milanówek 16 36 Stare Babice Leszno ior ka 92 Ut Zielonka Belsk Duży 79 S7 41. Pil ica Sadkowice 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. Warka Regnów Cielądz 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 38. 39. 40. Jasieniec Błędów Rawa Mazowiecka 9. 10. 11. Ząbki Jez SOCHACZEW 35 WOŁOMIN Izabelin C 1. 2. 3. 4. 5. 6. 7. 8. Kobyłka ŁOMIANKI Młodzieszyn Klembów Radzymin Marki Brochów S8 11 Nieporęt LEGIONOWO Wyszogród Bug Serock Pomiechówek Somianka Goszczyn E77 0 5 10 Grabów nad Pilicą 15 20 km 42. 43. 44. AB Logistyka Atlantic Altmaster Wola Mrokowska Altmaster Pęcice Altmaster Piaseczno Błonie Business Park Diamond Business Park Raszyn (planned) Distribution Park Grodzisk Mazowiecki Good Point Puławska I Good Point Puławska II, III Goodman Warsaw Logistics Centre (planned) Logicor Błonie Logicor Łazy Logicor Piaseczno Logicor Święcice Logicor Teresin Metropol Park Błonie MLP Pruszków I MLP Pruszków II Ożarów Logistic Center P3 Błonie P3 Mszczonów Panattoni Park Błonie Panattoni Park Garwolin Panattoni Park Ożarów I, II Panattoni Park Pruszków Panattoni Park Pruszków II (planned) Piaseczno Business Park Point of View Kawęczyn Point of View Piaseczno Prologis Park Błonie Prologis Park Błonie II Prologis Park Janki Prologis Park Nadarzyn Prologis Park Sochaczew Prologis Park Teresin Pruszkowskie Centrum Dystrybucyjne Raszyn Business Park Reguły Logistic Park Segro Business Park Warsaw, Ożarów Segro Logistics Park Warsaw, Nadarzyn Segro Logistics Park Warsaw, Pruszków Techniczna Industrial Park WAN Pruszków 3 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 Upper Silesia The Upper Silesian Hub with 17.6% of the market share in terms of total stock continues to hold the second position in terms of stock. In the last quarter the market expanded by 51,700 sqm with Goodman Sosnowiec Logistics Centre and MLP Bieruń to name a few. A further 122,400 sqm is currently under construction. Due to balanced vacancy rate, which decreased by 0.5 p.p. over the last quarter, rents have remained flat over the course of the last few quarters and the situation is unlikely to change in the mid-term horizon. Benefiting from an excellent transportation network, including A4 and A1 motorways running across the region, proximity to Southern and Western borders of Poland, as well as a substantial manufacturing base and large consumer market, the Hub has attracted key players, who have developed logistic parks along the main transport corridors. KEY INDICATORS AND TRENDS Total existing supply 1,539,950 sqm Under construction* 122,400 sqm Vacancy rate * As of December 2014 Kochanowice Lubliniec Poraj 29 Kamienica Polska Boronów Starcza Koszęcin Kolonowskie J. Porajskie Żarki Zawadzkie M Koziegłowy anew Krupski Młyn Jemielnica Woźniki 11 ta ar W aP €2.50-3.20 per sqm/month Podczesna Pawonków ał 7.7% Rent range Demand remains strong within the area with occupiers recruiting mainly from 3PL, manufacturing and FMCG companies. 46 SILESIA UPPER SILESIA E75 Kalety MYSZKÓW 1 Tworóg Strzelce Opolskie Miasteczko Śl. Toszek Radzinków 94 40 E40 Rudziniec 28 ZABRZE 3 26 3 GLIWICE A4 Sośnicowice A1 88 RUDA ŚL. KNURÓW Jankowice Radlin WODZISŁAW ŚLĄSKI ŻORY Mszana Godów PSZCZYNA Miedźna Przeciszów Brzeszcze Polanka Wielka Goczałkowice-Zdrój Wisła 18 17 Osiek Wilamowice Bestwina CZECHOWICE-DZIECICE Zebrzydowice Á OŚWIĘCIM Soła Strumień Chybie 67 Libiąż Chełmek Bojszowy J. Goczałkowickie Bohumín ORLOVÁ Chełm Śl. 44 Bieruń A4 E40 E462 E462 JASTRZĘBIEPawłowice -ZDRÓJ A1 31 Lędziny 27 16 15 E40 E75 Kobiór Suszec Pszczynka 78 Gorzyce m S1 Imielin TYCHY Marklowice 94 S1 KATOWICE Rydułtowy Pszów 6 SOSNOWIEC 20 S86 9 30 JAWORZNO MYSŁOWICE 14 10 Łaziska G. Wyry 81 RYBNIK 4 11 21 5 2 1 86 Jejkowice Gaszowice 23 a sz J. Rybnickie Lyski DĄBROWA G. ze CZERWIONKA-LESZCZYNY Orzesze A1 Nędza 44 86 1. 2. 3. 4. 5. 6. 7. 8. 9. Pr Ormontowice Ruda 7 Wojkowice CHORZÓW 24 Kłodnica Gierałtowice Psary PIEKARY ŚL. 11 19 ŚWIĘTOCHŁOWICE 13 12 22 Pilchowice Kuźnia Raciborska Bobrowniki BYTOM 78 8 S1 ica 40 Siewierz 78 Mierzącice A1 Bry n Zbrosławice Pyskowice Ujazd Ożarowice Świerklaniec Prze s m 94 25 Poręba 78 a r na TARNOWSKIE GÓRY Cz Wielowieś za Warmątowice 88 Kęty 1 BIELSKO0 5 -BIAŁA K 10 52 15 Wieprz 20 km 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. Alliance Silesia Logistics Center Centrum logistyczne Milowice Diamond Business Park Gliwice Distribution Park Będzin Distribution Park Sosnowiec DL Invest Park Dąbrowa Górnicza (planned) DL Invest Park Psary / Czeladź (planned) Goodman Gliwice Logistics Centre (planned) Goodman Sosnowiec Logistics Centre Górnośląski Park Przemysłowy Logicor Czeladź Logicor Gliwice I Logicor Gliwice II Logicor Mysłowice MLP Bieruń MLP Tychy Panattoni Park Bielsko-Biała Panattoni Park Bielsko-Biała II Panattoni Park Gliwice II Panattoni Park Sosnowiec Prologis Park Będzin II Prologis Park Chorzów Prologis Park Dąbrowa Prologis Park Ruda (planned) Prologis Park Ujazd (planned) Segro Business Park Gliwice Segro Industrial Park Tychy Segro Logistics Park Gliwice Silesia Logistic Park Śląskie Centrum Logistyczne Terminal Logistyczny Promont Tychy 4 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 Poznań The Poznań Hub with over 199,000 under construction remains to be the most active region in terms of development activity. The region overtook Central Poland as the third largest hotspot in terms of overall stock, which exceeded 1.2 million sqm at the end of 2014. Poznań region expanded for example by Goodman Konin BTS or the next phase of Clip Poznań. KEY INDICATORS AND TRENDS Total existing supply 1,204,100 sqm Under construction* 199,050 sqm 0.9% Vacancy rate €2.60-3.75 per sqm/month Rent range Continous high level of new supply is balanced with high demand, which pushed vacancy down to the record low of 0.9%, the lowest in Poland. Prime headline rents remained flat at €3.75 per sqm/ month. POZNAŃ POZNAŃ * As of December 2014 11 Lubasz WĄGROWIEC Ryczywół Połajewo Wronki Rogoźno Obrzycko Mieścisko Sroki Oborniki Ostroróg Kłecko Wa rta Szmotuły Kiszkowo Murowana Goślina 11 Rokietnica Tarnowo Podgórne Duszniki M Łubowo Kaźmierz 92 15 19 20 7 SWARZĘDZ S11 14 Dopiewo Buk 12 Opalenica Stęszew 32 Puszczykowo Kleszczewo 10 16 9 3 11 Dominowo 4 E261 A2 E30 Kórnik 5 Mosina Kamieniec Czerniejewo Nekla Środa Wielkopolska 11 Miłosław W arta Granowo 22 8 13 17 E261 Kostrzyn 92 2 POZNAŃ 21 23 18 Komorniki Grodzisk Wielkopolski S5 1 6 E30 Pobiedziska Czerwonak 5 og il ca ni A2 Suchy Las 15 Czempiń Zaniemyśl 11 Brodnica ŚREM Kościan Nowe Miasto n. Wartą Krzykosy Książ Wielkopolski Śmigiel E261 5 Lipno Dolsk Krzywiń Jaraczewo 0 5 12 10 JAROCIN 15 20 km 15 1. Centrum Magazynowe Bugaj 2. Clip – Centrum Logistyczno Inwestycyjne Poznań 3. Distribution Park Gądki 4. Doxler 5. Goodman Poznan II Logistics Centre 6. Goodman Poznań Airport Logistics Centre (planned) 7. Goodman Poznań Logistics Centre 8. Logicor Poznań I 9. Logicor Poznań II 10. Logicor Poznań III 11. Logit 12. Luvena Logistic Park Poznań 13. MLP Poznań 14. MLP Poznań Zachód 15. Nickel Technology Park Poznań 16. P3 Poznań 17. Panattoni Park Poznań III 18. Panattoni Park Poznań IV (planned) 19. Prologis Park Poznań I 20. Prologis Park Poznań II 21. Prologis Park Poznań III (planned) 22. Segro Logistics Park Poznań, Gądki 23. Segro Logistics Park Poznań, Komorniki 5 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 Wrocław The Wrocław Hub has been very active over the last quarters both in terms of supply as well as demand. The region benefits from proximity of A4 motorway allowing excellent links with Germany and south of Europe. KEY INDICATORS AND TRENDS Total existing supply 1,186,400 sqm Under construction* 29,300 sqm The total industrial & logistic stock amounted 1.2 million sqm at the end of 2014, boosted by Goodman Wrocław South Logistics Centre and Panattoni Wrocław BTS Amazon. Vacancy rate The vacancy rate in Wrocław Hub stood at 2.3%, down by 2.8 p.p. since September. Rents have remained flat despite drop in availability. * As of December 2014 WROCŁAW 2.3% Rent range €2.60-3.30 per sqm/month Wąsosz Jemielno Milicz Wińsko 36 WROCŁAW Żmigród Krośnice 15 S5 Prusice Twardogóra Wołów Zawonia Trzebnica Oborniki Śl. Brzeg Dolny 25 Wisznia Mała Odra Malczyce Dobroszyce S8 5 Miękinia E261 19 94 Środa Śląska A8 go rze St E40 14 18 4 1 m 8 16 13 9 7 17 5 A1 Kostomłoty Kąty Wrocławskie 12 5 11 ka OLEŚNICA 2 Długołęka BIerutów WROCŁAW 3 Czernica 10 6 Siechnice A4 15 94 ra O w Żórawina J. Mietkowskie 8 Żarów 35 Lubsza E40 Jordanów Śląski ŚWIDNICA Borów 5. Domaniów BRZEG Skarbimierz Osiedle Wiązów Łagiewniki Strzelin 94 39 a Oła w E40 Niemcza Pieszyce Grodków BIELAWA Piława Górna 8 Ciepłowody 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. Olszanka A4 Kondratowice DZIERŻONIÓW 1. 2. 3. 4. a OŁAWA E67 Marcinowice Sobótka Jelcz-Laskowice Od ła S8 Kobierzyce Mietków S8 E67 Przeworno 0 5 10 15 20 km 18. 19. Distribution Park Wrocław Eurologis Gazowa Industrial Park Goodman Wrocław East Logistics Centre Goodman Wrocław South Logistics Centre Panattoni Park Wrocław I Panattoni Park Wrocław II Panattoni Park Wrocław III Panattoni Park Wrocław IV (planned) Prologis Park Wrocław I Prologis Park Wrocław III Prologis Park Wrocław IV Prologis Park Wrocław V Segro Industrial Park Wrocław Skalski Logisitic Park Tiner Logistic Park Wrocław Bielany Business Park (planned) Wrocław Business Park VATT Invest Wrocław 6 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 Central Poland Being located close to A2 and A1 motorway junctions is the key advantage of the Hub, attracting both developers as well as occupiers. Rents have moved up by €0.25 over the last quarter and should remain stable in the short-term. Due to no completions, Central Poland Hub lost its third position and currently is the fifth largest hotspot for industrial & logistics stock in Poland having 13.1% market share and over 1.45 million sqm. KEY INDICATORS AND TRENDS Take-up of space in the Central Poland Hub has increased substantially over the course of last quarters, decreasing vacancy rate from 11.1% in September 2014 to 2.1% at end of 2014. This is a record fall in availability of industrial & logistic space ever recorded. 45,500 sqm Nowa Sucha Mr og a a Nieborów 14 Bolimów a E30 A2 Domaniewice Łyszkowice SKIERNIEWICE Głowno Maków 70 Dmosin Stryków E30 71 1 72 Lipce Reymontowskie 20 6 17 ur a Aleksandrów Łódzki Lutomiersk Rogów 71 Konstantynów Łódzki Ner S14 5 2 PABIANICE Dobroń 72 12 18 11 3 13 9 4 19 A1 Andrespol Żelechlinek Budziszewice Rzgów Brójce Rokiciny Czerniewice Lubochnia Będków Tuszyn órk a olb Moszczenica 12 Rzeczyca E68 Ujazd 48 TOMASZÓW MAZOWIECKI Inowłódz Pili c a Wolbórz a bi A1 91 Grabica S8 W 1 Dłutów Zelów Rawa Mazowiecka Koluszki Czarnocin G ra 7 16 Głuchów Brzeziny E75 14 10 8 15 8 E67 ka aw id 1 E75 Rozprza 91 Sławno Mniszków ża Sulejów Opoczno 12 44 cią Lu 74 Paradyż Pilica W Wola Krzysztoporska 11. PIOTRKÓW TRYBUNALSKI 14 BEŁCHATÓW 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. J. Sulejowskie Drużbice Kluki Jeżów Ksawerów 71 Nowy Kawęczyn n 72 ŁÓDŹ 72 er Ski Słupia ZGIERZ Bz Godzianóww ka A2 ie Parzęczew R awka Ozorków Bzur 70 Bielawy M o szczenic 91 92 ŁOWICZ 50 ka Raw Góra św. Małgorzaty €1.80-3.25 per sqm/month Chąśno Piątek A1 2.1% Rent range Bzura Łęczyca E75 Under construction* * As of December 2014 Zduny Witonia 1,145,100 sqm Vacancy rate 92 CENTRAL POLAND CENTRAL POLAND Total existing supply Cza rn 0 Białaczów a 5 Aleksandrów 10 Żarnów 15 20 km 12. 13. 14. 15. 16. 17. 18. 19. 20. Diamond Business Park Stryków Goodman Łódź Logistics Centre Logicor Łódź Logicor Łódź II Logicor łódź III Logicor Stryków Logis Logistic City – Piotrków Distribution Centre Łódź Business Park P3 Piotrków Europolis Park Poland Central Panattoni Park Business Center Łódź Panattoni Park Business Center Łódź II Panattoni Park Łódź East Prologis Park Piotrków I Prologis Park Piotrków II Prologis Park Rawa Prologis Park Stryków (planned) Segro Business Park Łódź Segro Logistics Park Łódź Segro Logistics Park Stryków 7 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 Tri-City Located close to the sea (Deep Container Terminal in Gdańsk) and A1 motorway connection with south of the country, provides a good ground for development of this industrial and logistics hub in the Tri-City area. KEY INDICATORS AND TRENDS The total stock of Tri-City Hub reached 245,000 sqm with a further 66,400 sqm under construction, which in relation to its current stock, is relatively high. TRI-CITY Total existing supply 245,000 sqm Under construction* 66,400 sqm Vacancy rate 5.0% Rent range €2.80-3.50 per sqm/month * As of December 2014 Vacancy rate has shrunk from 6.4% to 5.0% in Q4 2014. TRI-CITY Władysławowo Krokowa J. Żarnowieckie Puck Jastarnia Gniewino Zatoka Pucka Re d a 6 Reda E28 Hel WEJHEROWO Kosakowo RUMIA Luzino 4 9 GDYNIA S6 Z a t o k a G d a ń s k a Szemud SOPOT E28 20 Przodkowo KARTUZY 10 Żukowo 7 Somonino Kolbudy S7 unia Rad 11 Stegna w a Sztutowo E77 Cedry Wielkie 7 PRUSZCZ GDAŃSKI sł W Przywidz 7 Nowy Dwór Gdański Ostaszewo a 20 rt ła is J. Raduńskie Dln. 8 5 1 2 W 3 a M Chmielno GDAŃSK 6 i Suchy Dąb Trąbki Wielkie Pszczółki Nowa Karczma Nowy Staw 91 Lichnowy E75 ga No A1 Skarszewy TCZEW t 55 Liniewo 22 22 MALBORK Sulkowy Stara Kiszewa 22 Zblewo STAROGARD GDAŃSKI Miłoradz 55 91 0 5 10 SZTUM 15 20 km Stary Targ 1. Centrum Logistyczne Gdańsk Kowale I 2. Centrum Logistyczne Gdańsk Kowale II 3. Centrum Logistyczne Gdańsk Kowale III 4. Centrum Magazynowe Hutnicza 5. Diamond Business Park Gdańsk (planned) 6. Goodman Pomeranian Logistics Centre 7. Logistic Center Pruszcz Gdański 8. Panattoni Park Gdańsk 9. Port Gdynia Logistic Centre 10. Prologis Park Gdańsk 11. Segro Logistics Park Gdańsk 8 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 SECONDARY HUBS2 Kraków Despite high demand for logistics space for the Kraków Hub, which has been confirmed by continuous low level of vacancy rates, the market has not been developing fast and lags behind the Primary Hub league. KEY INDICATORS AND TRENDS KRAKÓW Total existing supply 196,700 sqm Under construction* 24,700 sqm As a result of lack of balance between supply and demand, rents in Kraków Hub belong to the highest rates in Poland with the tendency to grow. The situation will continue in the mid-term horizon. Vacancy rate Vacancy dropped from 2.9% recorded in Q3 to 1.5% at the end of Q4 2014. The planned delivery of 24,700 sqm over the next months will put Kraków region on the list primary industrial & logistics hubs. * As of December 2014 1.5% Rent range €3.50-4.00 per sqm/month Ogrodzieniec KRAKÓW Pilica Książ Wielki 7 Słaboszów E77 Wolbrom Charsznica Działoszyce Miechów Klucze Czarnocin Gołcza Racławice Trzyciąż Pałecznica Sułoszowa Radziemice 94 Bukowno Iwanowice Włościańskie Jerzmanowice Trzebinia 79 CHRZANÓW A4 Babice E40 Zabierzów 5 Alwernia Spytkowice KRAKÓW Skawina a aw Sk 52 Mucharz A4 J. Dobczyckie Sułkowice 75 BOCHNIA Nowy Wiśnicz Raba Łapanów Lipnica Murowana Raciechowice Trzciana Myślenice Żegocina Wiśniowa Budzów Maków Podhalański S kawa Stryszawa 4 Dobczyce E77 Rzezawa E40 Gdów S7 Laskowa Jodłownik Pcim Sucha Beskidzka Kłaj 1 Siepraw Świnna Poręba (bud.) Zembrzyce 75 Niepołomice Świątniki Górne Lanckorona Stryszów 7 Wieliczka Mogilany 7 Kalwaria Zebrzydowska 3 8 79 Tomaszkowice 6 28 Tomice Wadowice Drwina Wisła 44 Brzeźnica Wawrzeńczyce 2 Czernichów Nowe Brzesko Zielonki 9 Liszki Proszowice Luborzyca S7 E462 Koniusza Michałowice Wielka Wieś Krzeszowice Kazimierza Wielka Słomniki Skała ba OLKUSZ Ra Bolesław Skalbmierz Tokarnia Tymbark Limanowa Dobra 28 Lubień Zawoja Bystra Mszana Dolna Jordanów 28 Rabka-Zdrój Niedźwiedź 28 Słopnica 0 5 10 Łukowica 15 20 km 1. Centrum Logistyczne Kraków Kokotów 2. Centrum Logistyczne Kraków I 3. Centrum Logistyczne Kraków II 4. Centrum Logistyczne Kraków III (planned) 5. Goodman Kraków Airport Logistics Centre 6. MARR Business Park 7. MK Logistic 8. Panattoni Park Kraków 9. Witek AirPort Logistic Centre 2. Supply up to 200,000 sqm 9 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 Rzeszów / Lublin The Rzeszów-Lublin Hub has been gaining in importance due to the fact that these are the last industrial and logistic spots at the EU border. The majority of the stock, estimated at nearly 160,000 sqm, is built-to-suit. Still the region has the second highest vacancy rate in Poland, which stood at 12.6% at the end of 2014. Total existing supply 158,900 sqm Under construction* 20,800 sqm Due to increasing vacancy rate, rents have fallen by €0.25 over the last quarter and should remain stable in the mid-term horizon. Rent range KEY INDICATORS AND TRENDS RZESZÓW / LUBLIN Vacancy rate 12.6% €3.00-3.50 per sqm/month * As of December 2014 LUBLIN S17 Kurów 12 Końskowola Markuszów W Niemce Spiczyn Garbów 17 Puchaczów Jastków str By Łęczna Jakubowice Murowane ca zy LUBLIN Nałęczów Cyców 82 Wąwolnica 1 2 Wojciechów Mełgiew Milejów S17 ŚWIDNIK Konopnica Poniatowa 12 S12 Bełżyce Ch Ludwin iep rz od elk a Piaski Niedrzwica Duża Chodel Jabłonna 5 10 Fajsławice 15 20 km Łopiennik Borzechów RZESZÓW Koprzywnica Rytwiany STALOWA WOLA Grąbów isł Łoniów 1. Centrum Logistyczne Mełgiewska 2. MLP Lublin TARNOBRZEG a Staszów W Szydłów 0 Trawniki Osiek Tuczępy Łęg Baranów Sandomierski Oleśnica 79 73 Pacanów 9 Gawłuszowice Borowa Majdan Królewski Tuszów Narodowy Wisł o k isła W Bojanów Nowa Dęba Padew Narodowa Połaniec Łubnice rw a a y Raniżów Dzikowiec Kolbuszowa Niwiska Radomyśl Wielki Przecław Głogów Małopolski Dąbrowa Tarnowska Pustków 3 A4 73 Żyraków Lisia Góra Trzebownisko 7 Iwierzyce 0 5 4 Boguchwała E40 Pilzno RZESZÓW Ropczyce Zalew 5 Czudec 10 15 9 20 km ok 4 DĘBICA is ł Skrzyszów 6 Sędziszów Młp. Świlcza Czarna TARNÓW Ostrów W Radgoszcz rz E371 MIELEC Wadowice Górne P Cmolas Szczucin Tyczyn 3. Centrum Logistyczne Rogoźnica 4. Korczowa Logistic Park (planned) 5. Omega Pilzno 6. Panatonni Park Rzeszów (planned) 7. Skalski Logistic Park Podgrodzie 10 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 Toruń / Bydgoszcz Panattoni and Goodman are the most active players within Toruń/ Bydgoszcz Hub, which remains the second smallest industrial and logistics market in Poland. The trend is likely to continue for the upcoming year. KEY INDICATORS AND TRENDS Br The region continues to struggle with high vacancy, which was further inflated to 32.3% at the end of 2014. Therefore the hub offers very competitive rental rates. In the foreseeable future, no significant change is expected. TORUŃ / BYDGOSZCZ – 32.3% €2.60-2.80 per sqm/month Rent range * As of December 2014 Papowo Biskupie A1 Chełmża Osielsko E75 Kowalewo Pomorskie Dąbrowa Chełmińska Łubianka Białe Błota 2 S5 na Ka tec No E261 101,100 sqm Under construction* Vacancy rate Unisław 10 5 Total existing supply Dobrcz Sicienko BYDGOSZCZ TORUŃ / BYDGOSZCZ ł 80 S5 4 Zławieś Wielka 1 Solec Kujawski ki TORUŃ 10 Wielka Nieszawka Nowa Wieś Wielka 25 eć Not Barcin 5 Łysomice S10 Łabiszyn 15 80 Obrowo Wisła Gniewkowo Złotniki Kujawskie Drwęca S10 Mała Nieszawka Rojewo 3 Lubicz Dolny 0 15 5 Aleksandrów Kujawski 10 15 20 km Ciechocinek 1. Bydgoski Park TechnologicznoPrzemysłowy 2. Logistic and Business Park Bydgoszcz 3. Diamond Business Park Toruń (planned) 4. Goodman Toruń Logistics Centre 5. Panattoni Park Toruń Szczecin Hub The Szczecin Hub has been developing slowly, holding the smallest market share of all the industrial and logistics hubs across Poland. Recent activity was limited to completion of the next phase of North-West Park, which were successfully leased. KEY INDICATORS AND TRENDS SZCZECIN Total existing supply 73,350 sqm Under construction* 42,550 sqm It should be noted that Szczecin Hub has no space available for immediate lease. Vacancy rate 0% €2.80-3.50 per sqm/month Rent range * As of December 2014 Osina Odra POLICE 2 104 Brüssow 13 Kołbaskowo 10 Gryfino 10 Kobylanka STARGARD SZCZECIŃSKI S10 J. Stare Miedwie Czarnowo S3 E65 h Stara Dąbrowa E65 20 E28 2 Gartz 1 nia Pło Penkun Małe Dąbie Maszewo 31 Odr aZ ac h . A6 E28 S3 S6 SZCZECIN 10 ow nd Ra E28 J. Dąbie Dobra Goleniów Ina SZCZECIN 0 Ina 5 10 15 20 km 1. North-West Logistic Park 2. Prologis Park Szczecin 11 AT A GLANCE - INDUSTRIAL & LOGISTICS MARKET REVIEW, POLAND - Q4 2014 List of major letting transactions in 2014 Tenant Scheme Hub Area leased (sqm) Millenium Logistic Park Poznań Zachód Poznań 53,800 New ID Logistic P3 Mszczonów Warsaw II 46,200 New Carrefour Distribution Park Będzin Upper Silesia 45,800 Renegotiation BTS Bielsko-Biała Upper Silesia 45,000 BTS MLP Pruszków Warsaw II 41,500 BTS Czerwona Torebka GE Merlin.pl Type of lease Polo Market Goodman Konin Poznań 39,700 BTS Confidential Logistic City Piotrków Trybunalski Central Poland 40,000 New Procter & Gamble Viva group Prologis Park Sochaczew Warsaw II 37,900 Renegotiation Prologis Park Teresin Warsaw II 34,000 Renegotiation Rhenus CLIP Poznań 30,800 New Geodis Distribution Park Wrocław Wrocław 22,200 New Selected completions in 2014 Project Hub Developer Area (sqm) Goodman Wrocław South Logistics Wrocław Goodman 123,500 BTS Amazon Wrocław Wrocław Panattoni 123,000 BTS Amazon Poznań Poznań Panattoni 123,000 Goodman Konin Logistics Centre Poznań Goodman 39,700 Prologis Park Wrocław V Wrocław Prologis 27,000 BTS Home & You Gdańsk Kowale III Tri-City 7R Logistic 20,700 List of major investment transactions in 2014 Seller Price (€ million) Warehouse portfolio Project Łódź, Wrocław, Gdańsk Location Purchaser PZU FIZ Panattoni €140.0 Warehouse portfolio Poznań, Stryków, Mysłowice Logicor Standard Life €118.2 Warehouse portfolio Pruszków, Łódź, Poznań Segro Tristan Capital Partners €100.0 Warehouse portfolio Błonie, Czeladź, Gliwice, Kraków, Łazy Logicor Pramerica / Panattoni €80.0 Warehouse portfolio Błonie, Wrocław Hillwood Standard Life €70.0 Tesco warehouse Gliwice ProLogis Invesco €48.0 Żerań Park Warsaw ProLogis Heitman €34.0 Ideal Idea I - III Warsaw CBRE GI BPH TFI €32.0 Source: BNP Paribas Real Estate CONTACTS Anna Staniszewska Director, Research & Consultancy CEE, [email protected] Katarzyna Pyś-Fabiańczyk Head of of Industrial & Logistics Department, [email protected] Martyna Kajka Junior Consultant, Industrial & Logistics Department, [email protected] Erik Drukker Managing Director, Agency & Valuations, [email protected] John Palmer Director Industrial Investments & Valuations CEE, [email protected] BNP Paribas Real Estate Poland Sp. z o.o. 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