The Warsaw office of international property consultant King Sturge advised in a transaction in which Associated British Foods (AB Foods) has taken over 26,000 m[sup]2[/sup] of production and warehouse space near Poznan in west-central Poland.
The Warsaw office of international property consultant King Sturge advised in a transaction in which Associated British Foods (AB Foods) has taken over 26,000 m2 of production and warehouse space near Poznan in west-central Poland.
AB Foods has taken a 15-year lease on the space from UK landlord London and Cambridge Properties. The deal sees AB Foods position its Twinings tea production within Europe’s expanding markets, alongside Volkswagen, CLIP (Centre for Logistics and Investment in Poznan) and STS, a logistics provider to Mercedes Benz.
Ben Havery, a chartered surveyor in King Sturge's Industrial Agency team in Warsaw noted: 'This is one of the largest industrial deals to have taken place in Central and Eastern Europe in recent months. We are delighted to have been involved particularly since market conditions on the Continent remain challenging.'
'2009 saw a decline in demand for industrial and logistics space in Poland. Consequently, there has been downward pressure on rents and speculative development has slowed considerably. 'Today we effectively have a very competitive tenant’s market,' added Havery, 'and companies such as AB Foods are typical of the types of operators showing interest in this sector of the CEE property market.'
