The Polish industrial and logistics market demonstrated solid growth throughout 2022. Around 0.8 million sqm came on stream in the last quarter, bringing total stock to just over 28 million sqm at the end of December. Key market highlights reported by BNP Paribas Real Estate Poland include high gross take-up, continuous rental growth and subletting which is becoming an increasingly popular option. Another notable trend is brownfield development which is emerging as an interesting alternative for many developers.
Our analysis of data for 2022 clearly shows that the Polish market maintains its momentum. It continues to power ahead, capitalizing on the advantages it has over other CEE countries and other geographies. Forecasts show that it will soon surpass another milestone - the 30 million sqm mark. In 2022, supply levels remained healthy amid still relatively substantial net take-up which fell to over 4.4 million sqm from the record high of 5.6 million sqm in 2021. And yet, it is clear evidence that occupier activity remained strong. However, take-up structure did change due to economic conditions. E-commerce, whose growth is being hampered by high inflation and the falling purchasing power, is giving way to manufacturing
says Tomasz Arent, Head of Industrial and Logistics, BNP Paribas Real Estate Poland.
Tapping into the potential to build attractiveness
Subletting is being increasingly taken into consideration as an option. Its biggest advantage to both parties is its immense flexibility. Subtenants can easily negotiate a short-term lease with an option to terminate at any time or even secure favourable financial conditions from tenants occupying unused space
says Wojciech Nowicki, Associate Director, Industrial and Logistics, BNP Paribas Real Estate Poland.
Now is the time for brownfields
To meet customers’ demand for the fastest possible delivery, warehouse developers will go the extra length to build urban depots in well-connected locations. Despite being more complicated, costly and time-consuming, brownfield projects are highly valued by companies from such sectors as FMCG, e-commerce and catering
says Piotr Załęski, Associate Director, Industrial and Logistics, BNP Paribas Real Estate Poland.