It's all kicking of Wrocław

Despite a considerable improvement in the situation on the warehouse market in terms of the growing demand and availability of capital, we are still not seeing the construction of purely speculative projects. For the time being each project in the near future will be preceded with a pre-lease agreement. The percentage of speculative space depends on the maturity of that particular market, the demand and the free space available. Wrocław happens to be one of the most active markets at the moment. Despite the fact that it is fifth in terms of existing area, the projects that are currently being carried out and the fact that the highest amount of space was completed in this region in 2013 – as much as 117,000 sqm – should soon make Wrocław move up the ranking. This is mainly due to its proximity to the Czech and German borders and the development of road infrastructure, including the Wrocław motorway ring road on the north-western outskirts of the city. As a result of this, more projects are appearing on the warehouse map of Poland and they are opening up new possibilities for the developers and tenants of warehouse space.

In Lower Silesia Panattoni has built 190,000 sqm in two logistics parks and two BTSs. Wrocław and Legnica are popular with tenants, particularly those who enter Poland from the West. This is why we expect further interest in dedicated facilities. After a break we are also starting anther logistics park in Bielany Wrocławskie – Panattoni Park Wrocław III. This will initially offer around 20,000 sqm, the majority of which is speculative. We are also planning to start a number of other similar projects in other parts of Poland.