Pan-European logistics developer Panattoni Europe has unveiled plans to invest €1.2 bn in its so-called City Logistics projects – facilities built within city limits dedicated to the 'last mile' deliveries.
Four such parks are already under development in Poland, totalling €65 mln in value. The most recent of these, the 26,000 m2 City Logistics Warsaw, has just secured its first tenant, Frisco.pl – the online supermarket. Over the next three years, the developer will pursue other markets including Germany, the UK and the Czech Republic.
'By the end of this year, we will have delivered approx. 150,000 m2 in City Logistics Parks, focusing on the Polish market,' said Robert Dobrzycki, CEO Europe, Panattoni Europe. 'We are planning to expand our portfolio to include in-city facilities in Germany, the UK and the Czech Republic in early 2019, and we will be allocating €400 mln every year to these projects, totalling €1.2 bn over the next three years.'
The remaining City Logistics Parks in Poland – City Logistics Wroclaw I, Lódz I and Warsaw Airport - are under development with an occupancy rate currently in the range of 60%, according to the firm. The deal with Frisco.pl was driven by the positive climate for ecommerce.
'Our decision to go ahead with the investment was influenced primarily by the dynamic growth in the scale of our business over the past few years, as well as the enormous growth potential of the entire e-grocery market in Poland,' said Grzegorz Bielecki, management board member Frisco.pl. 'Already, one in seven Polish internet users regularly buys groceries online, and according to projections the market is set to grow at 15-20% a year.'
Panattoni Europe's formats currently include both custom-tailored big boxes, featuring in excess of 161,000 m2 with robotics and automation solutions, as well as warehouse space adapted for e-commerce within proprietary parks.