A total of 690,000 m2 of manufacturing, logistics and warehouse space was developed in Central Europe in 2013, representing an investment of more than €330 mln, according to Cushman & Wakefield.

A total of 690,000 m2 of manufacturing, logistics and warehouse space was developed in Central Europe in 2013, representing an investment of more than €330 mln, according to Cushman & Wakefield.

Industrial take-up reached a record of 4 million m2 across Central and Eastern Europe in 2013, up sharply on the 500,000 m2 reported in the region a decade ago.

The largest leasing deal was signed in the Czech Republic by transport group DHL, which agreed to take 420,000 m2 of space. In Poland, online retail giant Amazon signed the biggest deal with the leasing of 325,000 m2.

'Central Europe benefits from the advantages of having Germany, Europe’s economic engine, as a neighbour. German companies, especially those in the automotive industry, have been moving manufacturing to these countries for a number of years and there is no signal that the process is about to stop,' commented Ferdinand Hlobil, head of the Central European industrial team at Cushman & Wakefield.

New developments accounted for a total of nearly 700,000 m2, in line with the result achieved in 2012 but still well below a peak of 2.5 million m2 recorded in 2007 and 2008. The vacancy rate in the region remains at around 10%.