The warehouse industry recovered some in the first quarter of 2012, thanks to the massive road investments that have been underway in the run-up to Euro 2012. “The developers who build warehouse parks and logistic centres in Poland are familiar with all the plans for road expansion and they’re select their locations from this point of view,” says Radołsaw Krochta, the vice-president of MLP Group. ”That’s why we’re seeing an increasing number of investments being made to the Polish market in these specific locations, rather than expansion across the whole country,” he adds. There’s a total warehouse stock of 7.2m sqm on the Polish market, 215,000 sqm of which was delivered in the first quarter of 2012. That’s nearly 60 percent of the total supply for 2011 in the country. In the first three months of the year, there was 478,000 sqm in take-up, which represents a 10 percent increase compared to the fourth quarter of 2011. More encouragingly, 68 of all the leases signed in Q1 were new agreements, while just 32 percent of them were re-leases or extensions.
