In its first financial results announcement since the IPO in March 2021, CTP recorded a 16.9% growth of net rental income in Q1 2021 vs Q1 2020, increasing its market share in its core CEE markets to 24% by the end of Q1 2021 and more than doubling leasing activity to 397,000 sqm GLA (compared to 184,000 sqm in Q1 2020).

Polish Logistics LLP, a new investment vehicle established by IO Asset Management, the specialist manager of industrial real estate, and REINO Capital, a real estate holding company listed on the Warsaw Stock Exchange, with the backing of Grosvenor Group, one of the largest privately-owned international property companies, has completed its first investment – the Logistic City prime logistics park in Piotrków Trybunalski. 

Panattoni is entering a new market. The company has announced the opening of an office in Hungary, headed by László Kemenes. He will be responsible for the development of speculative and big-box projects in Hungary, from the site acquisition and investment preparation, through to the commercialisation of the projects and their transfer to their eventual tenants. The developer already has two projects secured in the Budapest market.

Colliers Czech Republic secured the expansion of the Tchibo distribution centre in the Panattoni Park Cheb industrial zone, which was agreed upon by the developer Panattoni and Tchibo in the first quarter of 2021. The warehouse thus ranked second behind the Amazon distribution centre at Panattoni Park Prague Airport near Dobroviz in Central Bohemia. The modern hall is financed and the Cheb industrial zone is owned by Accolade.

Industrial developer P3 is preparing the construction of a modern industrial park in Myslinka, located about 15 km from the centre of Pilsen, which will offer 64,000 sqm of space to potential tenants. Construction of the first buildings is expected to be completed in the second quarter of this year. A total of five buildings will provide units ranging from 3,000 sqm to 30,000 sqm.

The development of the industrial and logistics market remains strong in 2021 in terms of leasing transactions and deliveries of new projects. Demand for new spaces across Romania is driven by automotive and retail players. 

In Q1 2021 Accolade signed new lease agreements in Poland of total GLA amounting to more than 61 000 sqm. Thanks to this quarter, Accolade´s portfolio has increased by 6 new tenants and the total rental space increased year to year by over 150 000 sqm, ultimately hitting the 750 000 sqm mark. 

Hungarian state-owned NIPÜF Group commenced the construction of a 10,000 sqm warehouse in its Tatabánya industrial park. The developer signed a lease agreement for one third of the building, and the remaining space awaits prospective tenants. The facility is to be delivered in the first quarter of 2022.

Ikea extended its lease contract at Segro Logistics Park Prague in the vicinity of the Václav Havel Airport. It will continue leasing the warehouse space totalling almost 12,500 sqm in the building it uses as a goods pick-up warehouse for its customers. The lease transaction was assisted by Cushman & Wakefield.

In Q1 2021, industrial take-up on the Czech market registered an increase of 147% compared to the same quarter of the previous year. The Industrial Research Forum announced industrial market figures for Q1 2021.