EUROPE EGLS enters the scene

You founded European Green Logistics Space last year, so I believe this is the company's first Expo Real. What are you hoping to do here and get from this fair? And could you tell us something about your company?

Ian Worboys, founder and CEO, European Green Logistics Space: Yes, this is our first Expo Real as European Green Logistics Space and it’s actually been a really positive experience. We came to meet investors, developers and occupiers across Europe to share our story and to listen carefully to what’s happening on the ground in each market. EGLS was founded to create a genuinely pan-European platform focused on sustainable logistics real estate. Our model combines the upgrade of existing logistics assets – our “brown-to-green” strategy – with the development of new, energy-efficient buildings that meet the highest sustainability standards. We are currently active in eight markets – the UK, France, Germany, Austria, the Czech Republic, Slovakia, Poland and now Spain – with local teams in each country identifying opportunities for both development and investment. From Expo, we’ve taken away some excellent new relationships. Both Marta and I have met long-term investors who like the fact that we have a strong local presence in every market, backed by deep technical expertise and a clear environmental mission.

You have many years of experience in logistics and industrial real estate. How would you assess the current prospects for the market, and does the mood at Expo Real reflect this?

IW: I was pleasantly surprised by the level of optimism at Expo Real this year. After a difficult start to 2025, there’s now a growing sense that the market is stabilising and that investors are adjusting to what I’d call the “new normal”. According to Savills, take-up in the first half of the year was below the ten-year average, but that was largely because investors and occupiers were delaying decisions, not because the fundamentals were weak. Those decisions are now being made, and we expect the second half of the year to be much stronger. Consumer confidence is also improving. When people start buying again, manufacturers produce more, which means they need more storage – and that’s always a good sign for logistics real estate. At the same time, construction prices have stabilised and are relatively low compared with recent years, so for developers and investors this is actually a very good moment to act. In short, I think the tone at Expo reflected cautious optimism. The smart money is already starting to move back in, especially among core and core-plus investors who see this as a good time to buy ahead of the next cycle.

And what are EGLS’s plans going forward? Which markets are you going to be focusing on, and how do you intend to be active there?

IW: We’re continuing to expand across Europe. This week during Expo, we launched our new Iberian operation, led by Thierry Bougeard, with offices in Madrid and Barcelona. That means we now have full coverage across Northern, Central and Southern Europe. Our strategy remains consistent: to combine development, investment and asset management expertise under one platform, with a strong local presence in each market. We believe having experienced local teams, like Marta in Poland, gives us a real advantage in sourcing opportunities, both on- and off-market, and in managing assets through the full investment lifecycle. If there is an interest-rate cut early next year, as many expect, that will further boost investor confidence. And because we’re already positioned across the continent, we’re well placed to act quickly as the market gathers momentum.

Marta Gorońska, Poland investment and development director, EGLS: In Poland, we see strong fundamentals and an increasingly sophisticated occupier base. While some regions have seen temporary oversupply, there are still select locations with healthy demand where we are actively identifying opportunities for land banking and build-to-suit developments. EGLS’s strength lies in being local: we understand where the supply-demand balance is favourable, and we can act decisively to create the right product – modern, energy-efficient space that meets occupiers’ needs while delivering long-term value for investors. Poland remains a key logistics hub for Europe, supported by robust GDP growth, strong consumer spending and a central position in regional supply chains. We believe it will continue to outperform many Western markets in the years ahead.