Brand new warehouse acquired outside Warsaw for €27.5 million
In October 2019 the Company acquired this newly built fully income producing logistics warehouse to the west of Warsaw, Poland, for a purchase price of €27.5 million providing a net initial yield of 5.64%. The developers were Panattoni Development Europe and Marvipol Logistics, which are specialised developers of logistics projects.
The warehouse is located in an established logistics location in Poland along the A2 motorway which is one of the arterial routes for Warsaw and benefits from easy access to the city. There are also two international airports within easy access, Warsaw Chopin and Warsaw Modlin. These factors make this an ideal location for urban logistics and e-commerce related delivery. The logistics centre comprises two warehouses totalling approximately 24,600 square metres, including over 1,900 square metres of office space, with one building containing cross-docking facilities. The main tenant is DHL, a division of the German logistics company, Deutsche Post DHL, the world's largest logistics company operating globally, particularly in sea and air mail. Other tenants include ICS Polska (specialising in industrial cleaning products) and Spedimex (a logistics company).