Today we effectively have a very competitive tenant’s market
(PRWeb UK) May 28, 2010
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 26,178 m² (281,777 ft²) of production and warehouse space on a 15-year lease in Swarzedz, near Poznan from British landlord London and Cambridge Properties. The deal sees AB Foods ideally 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 that, “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.”
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