ARTICLES LABELLED WITH TAG logistics

Service providers, including international property agencies, are bound to adjust their services to the rapidly changing demand from occupiers, developers and investors. Property Forum asked Kata Mazsaroff, the recently appointed Managing Director of Colliers Hungary to unveil her expectations about the commercial real estate market in the region and in Hungary in particular.

Over one million square metres of industrial space is currently under construction in the Czech Republic. Most of them are pre-leased. New completions reached a record 521,600 sqm, representing the highest-ever volume of new space delivered to the Czech market. This is a 295% increase compared to Q3 2021 and an incredible 340% increase compared to Q2 2022. However, possible pressure on the correction of market rents can be expected. Given the current rent levels, it is already possible to register a declining interest of some of the Czech and foreign companies in leasing industrial space in the Czech Republic, according to the latest Knight Frank report.

Industrial and logistics developer P3 closed transactions for 78,000 square meters of office and logistics space in Romania in the first nine months of this year. Of the total transactions, 34% are new long-term contracts, while the rest comprises short-term contracts or extensions of existing lease agreements. 

RSJ Investment Group has purchased part of the land formerly owned by Poldi Kladno, where Panattoni will build a modern industrial complex with a total area of 88,500 sqm. Demolition and remediation works will start by the end of this year. The new area is expected to create 2,000 new jobs, RSJ reports.

Villar Group, a company listed on the Tel Aviv Stock Exchange, has under development 100,000 sqm of prime logistics space based on an investment budget of €50 million. 

Industrial and logistics developer CTP recorded strong like-for-like rental growth of 4.3% in the first nine months of 2022, while net rental income rose 36.8% to €328.2 million by the end of September compared to the same period of last year. 

Rising energy prices and construction costs, the volatility and depreciation of the forint against the euro, rising interest rates and tightening financing conditions all represent challenges for the actors over the short term, the Hungarian National Bank (MNB) states in its fresh outlook. 

The 143,000 sqm logistics facility of the Danish furniture retailer will serve more than 200 retail units in Hungary, Slovakia, Croatia and Slovenia. Online sales will be managed also from this centre. The complex was built by the Hungarian construction company Market Group.

CTP sees growing interest in smaller multifunctional spaces of up to 2,000 sqm in the Czech Republic. In Brno's Ponávka Business Park, which is owned by CTP, there has been a long-standing interest in small spaces despite their full occupancy. Therefore, the developer has built two CTBox buildings in the revitalised brownfield CTPark Brno Líšeň, in which it is possible to rent multifunctional spaces from as little as 400 sqm, and more than half of the units have already been occupied. Most recently, the same type of units has also become available at CTPark Hradec Králové.

According to a survey conducted by Savills involving real estate investors with total EME assets under management exceeding €500 billion, European multifamily, big box logistics, urban logistics, CBD offices and student housing are the top five sectors that investors are looking to invest in over the next 12 months.