According to the latest report by Savills, “Warehouse and Industrial Market in Poland”, approximately 1.64 million sq m of new industrial and logistics space was brought into use in the first half of 2024. As a result, the total warehouse capacity in Poland has reached 33.5 million sq m.
The authors of the report note that 1/5 of the total area is located in and around Warsaw, with another 53% in the main logistics hubs – in Upper Silesia, Central Poland, Wroclaw, and Poznan. The fastest growth of 18% in the last 12 months was observed in West Poland, reaching 2.34 million sq m. The next four emerging markets: Tri-City, Szczecin, Krakow, and Eastern Poland have over 1 million sq m each.
Despite a 37% decline in supply in the first half of the year compared to the same period last year, developers remain active with a 54% leasing level in the newly opened facilities, a figure comparable to previous years. The most new space was provided by Panattoni, CTP (approx. 186,800 sq m), 7R (approx. 143,600 sq m), GLP (approx. 142,500 sq m), and Hillwood (approx. 107,600 sq m).
The largest projects made available in the first half of 2024 include: CTPark Gdansk Port (119,400 sq m), Panattoni Park Wrocław Logistics South Hub (90,000 sq m), GLP Wrocław V Logistics Centre (86,200 sq m), and CTPark Warsaw South (67,400 sq m).
The second quarter of the year brought a noticeable revival in the warehouse market confirmed by growing interest from tenants. As a result, from January to June, the gross demand was 2.64 million sq m, up 19% year on year. The net demand, covering new leases and expansions, reached 1.61 million sq m, up 18% compared to the same period last year.
According to the authors of the report, Poland is one of the leaders in the warehouse industry in Europe. In the first half of 2024, with a 12% share in European demand, it took third place, right after the Netherlands (18%), Germany (16%), and ahead of the UK (11%) and France (10%).
Over half of the demand is generated by companies from the 3PL (25%), retail (15%), and e-commerce (11%) sectors, with a majority of the facilities located in five main markets: Warsaw and its surroundings, Upper Silesia, Central Poland, Wrocław, and Poznań. Changing business trends, increasing demand for green energy, electric car production, or semiconductors, will drive the development of new sectors and further revive the industry.
During the analyzed period, about 40% of all contracts were extensions, showing that tenants are eager to continue using the space they already occupy. The vacancy rate, currently at 8.1%, although it has increased by 1.6 percentage points, stabilized in the second quarter, suggesting that the market is beginning to regain its balance.
After dynamic increases in 2022 and 2023, rents started to stabilize, with slight upward adjustments only in the most desired locations with low availability. Standard big-box facilities in Poland are priced at EUR 3.50-6.50 per sq m per month. The highest rates apply in Warsaw reaching up to EUR 6.50 per sq m per month for standard space, followed by Krakow – up to EUR 5.80 per sq m per month and Tri-City – up to EUR 5.50 per sq m per month.
Source: https://ceo.com.pl/polska-w-gronie-liderow-wynajmu-powierzchni-magazynowych-w-europie-63905
