At the end of September, the total supply of warehouse space in Poland amounted to 20.3 million sqm. Warsaw remains the largest among the 11 major warehouse markets, where 4.73 million sqm is located within three zones, which constitutes 23 percent of the total supply in the country.
Over the past 12 months, over 2 million sqm has been delivered to the Polish warehouse market, of which 683,700 sqm in the third quarter of this year. This is the best result this year, taking into account the first two quarters of 2020. The largest increase in supply in Q3 2020 was recorded in the Upper Silesia region (232,200 sqm).
At the end of the analyzed period, 1.53 million sqm of modern warehouse space was under construction, slightly less than in the corresponding period of 2019 (1.83 million sqm). In terms of commenced investments, the leaders are the markets of Upper Silesia (351,700 sqm) and Warsaw (320,800 sqm in three warehouse zones).
“The newly started investments are largely BTS projects, areas at least partially secured with lease contracts and small municipal warehouses (SBU). Developers are partially departing from typically speculative investments, which does not mean that they do not secure land for further projects,” Maciej Chmielewski, senior partner, director of the Logistics and Industrial Agency at Colliers International, commented.
The vacancy rate increased compared to the end of the first half of this year. to the level of 8.2 percent (+1.5 pp.). The largest amount of available warehouse space is currently located in Warsaw zone I (11.1 percent) and Upper Silesia (10.5 percent), the least in Szczecin and Eastern Poland (less than 1 percent). Rental rates remained stable.
(WBJ)
