2024-10-28-莱坊-Warehouse_market_Upper_Silesia_Q2_2024_4页_387kb

Summary of the Warehouse Market in Upper Silesia (H1 2024)

Core Content

This report provides an overview of the warehouse market in Upper Silesia during the first half of 2024. It highlights key statistics such as existing warehouse stock, supply under construction, vacancy rates, and leasing activity. Additionally, it outlines the region's economic and infrastructural context, which contributes to its appeal as a logistics and distribution hub.

Key Market Statistics

• Existing warehouse stock: 5.6 million square meters
• Supply under construction: 280,000 square meters
• Vacancy rate: 5.9%
• New supply: 155,000 square meters
• Take-up: 470,000 square meters

The warehouse market in Upper Silesia is the second-largest in Poland, after Warsaw, and accounts for 16.7% of the country's total warehouse stock.

Lease Terms

• Standard lease terms for warehouse space: EUR 3.50–6.00 per square meter per month
• Asking rents for office space: EUR 10.00–12.50 per square meter per month
• Service charge: PLN 4.00–7.00 per square meter per month
• Rent-free period: 1–1.5 months

Supply and Demand Trends

• Year-on-year increase in take-up: Over 30%
• Quarter-on-quarter increase: More than 50% compared to Q2 2023
• Newly constructed space: 155,000 square meters in H1 2024
• Pre-lease percentage: 70% of new construction
• Vacancy rate decrease: 1.6 percentage points from the same period last year

The market is showing strong demand, driven by both new agreements and renewals, with expansions contributing a smaller share.

Major Warehouse Projects

Completed Projects (H1 2024):

• Panattoni Park Ruda Śląska V: 44,000 sq m
• Panattoni Park Bielsko-Biała IV: 31,000 sq m
• Fortress Logistic Park Zabrze: 23,000 sq m

Under Construction (End of Q2 2024):

• Booster Zabrze by LemonTree: 40,000 sq m (with 12,000 sq m already under construction)
• Other projects: Total of 280,000 sq m under construction, with a notable increase compared to previous quarters and the same period last year.

Top 5 Warehouse Destinations in Upper Silesia (by existing stock)

1. Sosnowiec South: 630,000 sq m
2. Gliwice South: 470,000 sq m
3. Czeladz: 330,000 sq m
4. Gliwice: 300,000 sq m
5. Tychy: 300,000 sq m

These locations are central to the region's warehouse market due to their existing stock and strategic positioning.

Economic Context of the Śląskie Voivodeship

• Population: 4.3 million
• Area: 12,334 square kilometers
• Average monthly salary (enterprise sector): PLN 8,220 (gross)
• Unemployment rate: 3.6%
• Average monthly salary (transportation and storage sector): PLN 7,920 (gross)

The region's strong economy and skilled workforce support the demand for warehouse space, especially in logistics and distribution industries.

Infrastructure and Connectivity

Upper Silesia benefits from a well-developed infrastructure, particularly its highways (A1, A4) and expressways (S1, S52, S86), which span a total of 250 km and 130 km, respectively. These roads facilitate efficient transportation to neighboring countries such as the Czech Republic, Germany, and Slovakia.

Contact Information

• Knight Frank Poland: +48 22 596 50 50 | www.KnightFrank.com.pl
• Research: Dorota Lachowska (dorota.lachowska@pl.knightfrank.com)
• Industrial Agency: Przemysław Jankowski (przemyslaw.jankowski@pl.knightfrank.com)
• Capital Markets: Krzysztof Cipiur (krzysztof.cipiur@pl.knightfrank.com)
• Valuation & Advisory: Małgorzata Krzystek (malgorzata.krzystek@pl.knightfrank.com)

Disclaimer

This report is for general information only and should not be relied upon for decision-making. Knight Frank does not accept any responsibility or liability for losses or damages resulting from the use of this information. Reproduction of the report without prior written approval is not permitted.

Conclusion

The warehouse market in Upper Silesia is experiencing growth and strong demand, with a significant increase in take-up and a decline in vacancy rates. The region's strategic location, developed infrastructure, and skilled labor force make it an attractive destination for logistics and distribution companies. Developers are showing cautious optimism, with a focus on pre-lease agreements to mitigate risks associated with speculative construction.