Warehouse construction up 79% in Q1

The pandemic accelerated the development of the warehouse market in Poland. According to a CBRE report, 2.5 million sq m is currently being developed in Poland, by far the best result ever.

In the first quarter of 2021, 766,000 sq m warehouse space, i.e. 79 percent. more compared to the previous year and 159 percent. more than in the last quarter of last year – according to a CBRE report. As a result, modern warehouse space in Poland amounts to 21.3 million sq m.

Over 2.5 million sq m is under construction. of warehouse space, of which nearly three-quarters is already secured by lease contracts, according to the latest CBRE report. A significant part of this space under construction, 1.2 million sq m, is construction started this year. Most is being built in Wielkopolska – 431 thousand. sq m area and in the Łódź Voivodeship – 411 thousand. sq m and Silesia – 353 thousand sq m

The factor driving the construction of new warehouses is high demand. In Q1, according to the CBRE report, demand for warehouse space amounted to 1.63 million sq m. This is the highest ever result recorded at the beginning of the year and one of the highest quarterly results. Most of that demand was new deals, expansions and BTS contracts, with renewals taking 30%. demand for warehouses. The largest lease transaction was the contract for 109 thousand. sq m of warehouse space at Panattoni BTS Poznań – informs CBRE in a press release.

Such a great interest in warehouses allows keeping the vacancy rate low. It is now 6.5 percent. Compared to the previous year, this means a decrease in vacant space by 0.6 pp. Base rents for warehouse space lease in the first quarter of this year. have not changed and remain stable at EUR 4-5.2 per sq m. for a month in Warsaw and EUR 2.7-3.9 per sq m. in a month in other regions of the country.

Source

Our privacy policy