At the end of 2023, Accolade has maintained its strong position in the warehousing market with 1,500,000 sqm of space leased and in the pipeline in 27 modern parks across Poland. The investor has also retained its leadership status in several regions of the country, including the West Pomeranian, Kuyavian-Pomeranian and Podlasie regions. The company continues to focus on sustainable investments, winning BREEAM certificates for its industrial parks and supporting local communities. At the beginning of 2023, the investor obtained Poland’s first BREEAM Outstanding certificate for an industrial building, and closed the year with two such highly certified warehouses in the country. One is located in Szczecin and the other in Konin. Accolade Group closed the year with 3.3 million sq m of space leased and in the pipeline worth EUR 3 billion.
300,000 sq m of leased space under new, renewed and extended contracts.
2023. Accolade consistently invested in the Polish warehouse sector, leasing 300,000 sq m of space and achieving results similar to those of the previous year. A number of tenants chose to continue working with Accolade and develop within investor-owned locations. The largest transactions included an agreement with Tyco Electronics Polska, which occupies 56,000 sq m in Park Szczecin I, and Iveco for 16,500 sq m in Park Zielona Góra, as well as Data Modul, which increased its space by 11,000 sq m in Park Lublin. Accolade also acquired new tenants in 2023, examples of which include an agreement for more than 54,000 sq m with a retail company in Park Szczecin VI, the lease of transport operator Regesta for 32,900 sq m in a park in Ruda Śląska, a new production location for Kostal Automobil Elektrik (17,000 sq m) in Świdnik, and the selection of Zielona Góra by ECE (12,000 sq m). At the end of 2023, the total warehouse space owned by Accolade was 1,500,000 sq m within 27 parks located throughout Poland, with a portfolio under management worth more than EUR 1.2 billion.
“Accolade is not only an investor, but also an experienced asset manager who is equally committed to creating green and modern parks, as well as growing with tenants, within their existing locations. Recent investments in new industrial parks in Ruda Śląska, Świdnik, as well as the expansion of those already owned, in Piła, Bydgoszcz and Białystok, are an expression of our readiness for further growth in the Polish market. Our ambition is to shape the future of the sector, where innovation and sustainability go hand in hand,” said Joanna Sinkiewicz, commercialisation director of Accolade Group.
Over €75 million in funding for industrial park development.
Accolade has received a net €75.6 million in financing from several banking institutions for new developments in 2023. The funds raised secured investments in four modern, strategically located parks in Poland. The largest transaction was a loan granted by Santander Bank. EUR 29.8 million net enabled the project in Ruda Śląska to be realised. Funding at a similar level was also provided by Alior Bank, whose net EUR 28.5 million enabled the investment in a park in Świdnik near Lublin. Funding from other banks, including PEKAO and Aareal, provided financing for warehouses in other locations, including Zielona Góra and Lublin.
“The €75.6 million financing, combined with our business strategy of investing in environmentally friendly and tenant-specific projects, as well as the local perspective and experience gained internationally, has resulted in an increase of Accolade’s portfolio in Poland by almost 156,000 sqm of new space. The capital we receive for the development of our projects is mainly due to the quality of the portfolio created, the high level of leases and the high income potential. In 2023, the amount of financing for the entire Accolade Group was EUR 389.1 million, including refinancing at EUR 29.5 million and new financing at EUR 359.6 million,” Lukáš Répal, chief operating officer at Accolade, said.
Accolade key regions.
In the past year, Accolade remained the leader in terms of owned warehouse space in many regions of Poland. Its dominant position is particularly noticeable along the country’s western border, including the West Pomeranian region, where the investor offers industrial parks with a total area of almost 420,000 sq m in Szczecin, Goleniów and Koszalin. The scale of the investment in this region prompted the company to open its first regional office in Szczecin, ensuring active cooperation with the local community. Accolade is also developing dynamically in the Kujawsko-Pomorskie Voivodeship with parks totalling almost 250,000 sqm in Bydgoszcz, the Lubuskie Voivodeship with parks in Zielona Góra of 170,000 sqm and the Podlaskie Voivodeship with 80,000 sqm. Accolade’s investments support the economic development of the regions, contributing, among other things, to the creation of new jobs (almost 13,000 throughout Poland).
Sustainable development and close relations with local communities.
The company gives priority to projects in line with the idea of sustainable development, which is confirmed by the BREEAM certificates obtained. Furthermore, investments on revitalised sites account for as much as 33% of Accolade’s portfolio. In 2023, the investor obtained the highest Outstanding rating for its two parks – Szczecin III and Konin, of which the building in Szczecin was the first industrial building in Poland to be so highly certified. Accolade aims to have all new parks certified at a minimum of Excellent, focusing, among other things, on increasing the energy efficiency of the buildings, providing tenants with access to renewable energy, investing in AED equipment or containers for electro-waste. In the past year, the investor has also expanded the apiaries located in several parks. The bee farms benefit the ecosystem, but also provide a space for workshops for local communities.
The investor does not limit itself to business activities, as evidenced by the creation of the Accolade Industrial Art programme, which has brought art into industrial spaces. In the first quarter of 2023, this initiative saw the opening of an open-air exhibition dedicated to the industrial history of Zalom, where Accolade’s largest industrial park in Poland, Park Szczecin I, is now located, and at the end of the year a new mural was made available in Park Białystok II. In addition, educational programmes aimed at children and young people are also carried out on the initiative of the investor. Accolade also cooperates with the Theatre for One Smile, whose actors make time pleasant for children in hospitals, and develops employee volunteering. Such events are an integral part of the company’s strategy, which emphasises building close and positive relationships with local communities.
