PropertyEU took the temperature of Europe’s logistics and industrial property market on Wednesday, with a powerhouse cast lifting the lid on what is driving deals and strategies.
The heavyweights also explored the genesis of the sector’s recent rise to glory starting from 2012 and whether the best is yet to come.
Towards the end of an hour-and-a-half’s discussion, Robert Dobrzycki, CEO of Panattoni Europe, summed up many components: ‘We feel very comfortable with the asset class, how defensive it is, and how it is linked with e-commerce and the projected growth of that segment.’ He added: ‘Also, the interest rate environment is very favourable and there’s a huge shift from retail, which has just started. So, things look very good and I think we are in the right sector.’
Those that assembled at PropertyEU’s offices at the World Trade Center in Utrecht were: Philip Dunne (CBRE GI’s head of EMEA Logistics), Ekaterina Avdonina (founder and CEO of Mirastar), Douglas van Oers and Marcus de Minckwitz (respectively Co head of logistics and industrial services and director regional investment advisory EMEA at Savills), Robert Dobrzycki (CEO of Panattoni Europe), Ben Bannatyne (president of Prologis Europe), and Nick Preston (fund manager of Tritax EuroBox).
There were remarkable insights into a wide range of market realities, such as last-mile delivery, the mind-boggling energy use of some facilities, labour pools, almost office-like fit outs for workers at some assets, longer permitting processes, new locations, current portfolio sales, structural consolidation, long income possibilities, the relationship with retail property, and the rise of ESG issues. There was even analysis of the public backlash against some assets in parts of Europe.
See the full report in the October issue of PropertyEU.
