Panattoni: upward curve in demand for warehouses in Poland

2010-02-22

Demand for warehouse space in Poland accelerated at the beginning of 2010. Simultaneously, however, there is no guarantee that the number of transactions this year will be as high as two years ago, according to representatives of the property developer Panattoni Europe.
A mere 530,000 m² of office space was rented out in Poland in 2009, i.e. three times less than in 2008. According to specialists, however, 2008 was a record year in terms of transaction volume and will be difficult to surpass in the near future. In 2009 developers shelved a number of projects and tenants opted not to lease new warehouses even after decisions had been made to build them – in Panattoni's case 10-15 clients withdrew from contracts at the last moment and these failed transactions concerned warehouses ranging from 2,500 to 20,000 m² in size.
The majority of warehouse rental transactions were concluded by firms from the pharmaceuticals and food sectors. In the opinion of specialists, the warehouse market has survived the worst period. However, problems still remain, the most serious of which is relatively weak demand and major differences in exchange rates.

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