Poland remains a key market for Segro following the signing of two large pre-let agreements at end-September. ‘There is continued interest among occupiers in Poland and the country remains very much a primary country focus for Segro,’ Andrew Gulliford, managing director Continental Europe, told PropertyEU at EXPO REAL .
Poland remains a key market for Segro following the signing of two large pre-let agreements at end-September. ‘There is continued interest among occupiers in Poland and the country remains very much a primary country focus for Segro,’ Andrew Gulliford, managing director Continental Europe, told PropertyEU at EXPO REAL .
‘No markets can be described as easy at the moment in the current economic climate but Poland has fared relatively well and we are cautiously optimistic.’ He added that the London-listed REIT has a well placed land bank and an active team in Poland.
In September, Segro announced two pre-lets totalling 39,000 m2 in Poland. In Gliwice, in the south of Poland, Segro is developing a new 31,700 m2 distribution facility for a major retailer which will occupy the new facility under a 28-year lease. The project is to start in October this year with completion expected in the third quarter of 2012.
Segro is also adding 7,600 m2 at its Tulipan Park development in Lodz. Opek has signed a 15-year lease and construction, subject to planning, will begin in the final quarter. The project is currently scheduled for completion in Q3 2012. Following these transactions, Segro’s group-wide current pipeline of contracted and under construction developments now totals 25 projects with 256,000 m2.
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