Panattoni Europe has ousted Sydney-listed Goodman Group from the top spot in PropertyEU’s annual ranking of the leading logistics developers in Europe.
The Warsaw-based company saw its volume of completed developments more than double to 2.7 million m2 between 2014 and 2016. A year ago, the company ranked third after Goodman and Prologis with a total volume of 1.1 million m2.
More on the Top logistics developers ranking in PropertyEU magazine
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The previous ranking was based on projects completed between 2013-15.
Amazon drives growth
Like Goodman, Panattoni has seen its business flourish in recent years due to strong demand from e-commerce clients and their need for extra large sheds. Indeed, Amazon accounted for three of Panattoni’s largest developments in the period under review.
Goodman was a pioneer in building XXL distribution facilities for the US e-commerce giant and built the company’s first European shed in Leipzig in 2006. PropertyEU Research figures indicate about 1.6 million m2 has been developed on behalf of Amazon in the 10 years to 2016. Of this, just over 1 million m2 is attributable to Goodman group which has headed our ranking of top logistics developers for the past five years.
Interestingly, Amazon now dominates Panattoni’s list of biggest completed projects as well as new developments under construction. Earlier this year the company announced that it is developing a fifth logistics centre for the global e-retailer, this time in Upper Silesia in Poland. The price of the development was not revealed.
Prologis books 70% increase
While Goodman slipped in this year’s ranking, its total volume for the 2014-16 period is roughly 17% higher than last year’s figure. Prologis booked an even bigger increase year-on-year of more than 70%, despite falling back to third place in this year’s ranking.
Overall, however, the average size of its largest completed projects and new projects under construction is significantly smaller than that of its two peers.
Poland again takes the lead in terms of total volume of completed projects during the period under review with 2.8 million m2, according to the findings of PropertyEU’s annual survey. It is followed by Germany with just over 2 million m2. Both countries also dominate the ranking in terms of projects under construction or in the pipeline, with 3.5 million m2 and 2.4 million m2 respectively.
