Latest report by AXI IMMO about the Polish Industrial Market in H1 2024

AXI IMMO is a major corporate property consultancy in Poland.

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Take-up: Rebound with a high share of renewals

In the first six months of 2024, the total lease volume on the Polish Industrial market amounted to 2.7 million sqm (+23% y-o-y), with a 39% share of lease renewals. The result for renegotiations increased by 26% year-on-year. On the other hand, 1.7 million sqm (+22% y-o-y) was signed in purely new contracts (net take-up). The three most active provinces were Dolnośląskie (nearly 527,000 sq ), Mazowieckie (506,000 sqm), the podium is closed by Śląskie (469,000 sqm). The so-called ‘big five’ continue to dominate the Polish industrial market. In the first half of 2024, it collectively accounted for 81% of gross take-up on the Polish market. Among the largest lease transactions between January and June 2024 was a new contract signed by a retail company in Bydgoszcz Białe Błota LC in Kujawsko-Pomorskie Voivodeship for 103,800 sqm, while in Dolnośląskie, a 3PL decided to extend and expand an existing contract in Prime Logistics Wrocław Pietrzykowice (98,700 sqm). The third place was a new contract, under which an e-commerce tenant will move into Panattoni Wrocław Logistics South Hub for 91,000 sqm.

“Despite a slower consumer recovery and a reduction in output, Poland’s industrial market will grow gradually in the second half of 2024. Extending leases in current locations will continue, although client development will be selective. We expect the end of 2024 to offer even greater optimism on the take up front. On the supply side, we anticipate that developers would choose projects with pre-leases over speculative space. On the other hand, ongoing due diligence processes point to increased transactions in the investment sector in the coming quarters.”

Analyses Renata Osiecka Managing Partnert at AXI IMMO.

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https://www.axiimmo.com/en/reports-publication/polish-industrial-market-in-h1-2024-report-by-axi-immo/

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