pomeranian commercial real estate market | report 2015 · 4 pomeranian commercial real estate...

Pomeranian commercial real estate market | Report 2015

2 | Raport | Lorem ipsum dolor sit amet consectetur COLLIERS INTERNATIONAL & INVEST IN POMERANIA

Ladies and Gentlemen,

For the last couple of years, Pomerania has been developing at an unprecedented speed. Numerous investments in infrastructure that have been co-financed by the EU and private funds keep boosting the attractiveness of the region. As a result, FDI inflow is growing steadily.

At the turn of the century, the office space market in Tricity did not exist. Today, it is estimated at 500,000 m2, which makes us the third regional market in Poland. In addition, traffic at Gdańsk Airport amounted to 260,000 passengers in 2000. Currently, it is at a level of 3 million and Gdańsk is ranked the third biggest airport in Poland just behind Warsaw and Kraków. Finally, the sea ports – at the beginning of the century Tricity’s terminals transshipped around 350,000 TEUs a year. Today they handle 2 million TEUs making Pomerania the logistics gate to CEE.

Together with Pomerania, the business environment is changing. This report depicts these changes, particularly regarding the office, warehouse and commercial space markets. It also presents a forecast for our region’s development.

I hope you find the publication informative and useful for your business.,

Mieczysław Struk,

Marshal of the Pomeranian Voivodeship

MIECZYSŁAW STRUKMarshal of the Pomeranian Voivodeship

Pomerania - gateway to the world

DISTANCE (KM) TRAVEL TIMEBerlin 594 5h 57 min

Prague 768 8h 11 min

Poznań 332 3h 40 min

Warsaw 417 3h 32 min

Kraków 589 5h 51 min

Szczecin 363 4h 40 min

FERRY CONNECTIONS TRAVEL TIMEGdańsk - Nynashamn (Sweden) 19h

Gdynia - Karlskrona (Sweden) 10h 30 min

COLLIERS PALETA

Gdynia

Tczew

Wejherowo

Nw. Dwór Gdański

Starogard Gdański Sztum

KartuzySłupsk

Bytów

Malbork

Lębork

Kościerzyna

Puck

Kwidzyn

Pruszcz Gdański

Człuchów

Chojnice

Sopot

Gdańsk

E28

20

S6

S7

A1

91

Source: Colliers International based on Invest in Pomerania, April 2015

3 Pomeranian commercial real estate market | Report 2015 | COLLIERS INTERNATIONAL & INVEST IN POMERANIA

POPULATIONThe Pomerania province is situated in northern Poland and divided administratively into 16 districts. The largest economic centre is Tricity, which is made up of the three adjacent cities of Gdańsk, Gdynia and Sopot. This region has about 33% of the region’s population, while 40% are concentrated in seaside municipalities. In addition to Tricity, the largest cities in the region include Słupsk, Tczew and Wejherowo. The Pomerania region stands out against the rest of the country due to the high percentage of the population in working and pre-working age. In accordance with forecasts of the Gdańsk Institute for Market Economics (IBnGR), the number of people in working age will decrease more slowly in this region compared to the average for the whole Poland. The highest population growth rate in Poland was recorded in the Pomerania region in 2010, 2011 and 2013.

2.24‰ NATURAL INCREASE (Q3 2014, GUS)

63.4% working-age population*

100% = 2.3 million | population*

*2013 r., GUS

Unemployment rate

Pomerania voivodeship 11.3% Poland 11.5%Sopot 4.0%Gdańsk 5.7%Gdynia 5.8%Kartuzy subregion 8.4%Słupsk 11.0%Tczew subregion 11.3%Kwidzyn subregion 13.1%Kościerzyna subregion 13.4%Puck subregion 14.2%Wejherowo subregion 14.6%

Source: Central Statistical Office, 2014 r.

ECONOMY AND LABOUR MARKETThe Pomerania region is an above-average region in Poland in terms of development. At the end of 2012, gross domestic product (GDP) was more than PLN 93bn, i.e. 5.8 % of the total GDP in Poland. At the end of 2014, the unemployment rate in Pomeranian was slightly lower compared to the average for Poland (11.5%) and amounted to 11.3%. However, the unemployment rate in Tricity was much lower in comparison to other agglomerations and stood at 5.6%. The economy of the Pomerania region is based on services and industrial operations (52% and 21% of the generated gross added value respectively). However, the agricultural sector – even though the food industry is traditionally one of the key branches of the region’s economy – is of marginal importance and generates only 3% of the gross added value.

271 ,784 ENTITIES REGISTERED IN THE REGON (2013, GUS)

1,430 ENTITIES WITH FOREIGN CAPITAL PARTICIPATION (2013, GUS)

3,959.16 AVERAGE MONTHLY GROSS SALARY IN ENTERPRISE SECTOR (2014, GUS )

The structure of the Pomerania economy

2%

21%

18%

7% 25%

8%

19%

rybactwo

budownictwo

samochodowych; transport i gospodarka

magazynowa; zakwaterowanie i

gastronomia; informacja i komunikacja

agriculture, forestry and fishing

industry

manufacturing

construction

trade; repair of motor vehicles; transportation and storage; accommodation and catering; information and communication

financial and insurance activities; real estate activities

other services

Source: Central Statistical Office, latest available data.

Why Pomerania region?

GUS-Central Statistical Office


In 2010, an “Analysis of Pomerania’s Investment Attractiveness” was conducted. The study indicated the six industries with the largest potential for attracting foreign direct investments. The analysis showed that the following industries have the largest growth potential in the Pomerania region: logistics, BPO/SSC (Business Process Offshoring/Shared Service Centres), ICT (Information and Communication Technologies), energy engineering, the light chemical industry and the automotive industry.

The BPO/SSC sector has developed rapidly over the last 10 years. The main hub of development of shared services centres in the Pomerania region is Tricity. More than 47 state-of-the-art business service centres operate here and employ approx. 15,000 employees. The vast majority of these centres specialise in IT services (ITO centres) and financial processes. What distinguishes Tricity in the Polish SCC & BPO sector is a distinctively stronger position in employment at research and development centres. There are presently approx. 1,800 people employed in Tricity R&D centres.

During the Polish Outsourcing & Shared Services Awards Gala, Tricity was awarded the prestigious ‘Best City of the Year’ title in the BPO/SSC sector. Tricity competed for the title with other nominees: Kraków, Wrocław and Poznań. The winners were selected by an international jury consisting of approx. 20 experts from the BPO/SSC sector, consulting agencies and the most influential trade associations in Poland and in Europe.

The human capital of Tricity has been widely recognised by investors, who have transferred advanced business support processes to Pomerania. The qualifications and skills of Pomeranian employees have allowed to the first knowledge-based service centres to be established (KPO – Knowledge Process Outsourcing – Coleman, KYC - PwC) as well as centres of excellence (i.e. Thomson Reuters).

A distinctive feature of the region is the large number of students fluent in foreign languages less popular in Poland (Scandinavian languages). 59% of people who speak Scandinavian languages in Poland reside in the Pomerania region (ABSL Report)

The sector’s development is currently gaining momentum. During 2014, six new brands entered the market – ThyssenKrupp, Proservartner, MOL Europe, CCC, CCIG and PwC. New investments will create up to 1,500 jobs.

Why Pomerania region?


Education28 higher education institutions operate in the Pomerania region, educating almost 102,000 students. In 2013 28,064 students graduated from universities in Pomerania.

28 102,000 28,064


In comparison to southern-central Poland, which is densely covered with big cities like Warsaw, Kraków, Wrocław, Rzeszów, Tricity constitutes a kind of an “island”, attracting students from adjacent regions. According to the latest analysis of Central Statistical Office, by 2050 Pomerania will be the region recording the smallest decrease in population after Warsaw.

The most important university centres in the region, providing education for students for main economic sectors, academic year 2012/2013

UNIVERSITY NUMBER OF STUDENTS

University of Gdańsk 28,684

Gdańsk University of Technology 25,217

Gdynia Maritime University 6,342

Pomeranian University in Słupsk 3,958

Medical University of Gdańsk 5,389

Naval University of Gdynia 3,445


Main subjects studied in 2012/2013

SUBJECT STUDENTS GRADUATESarchitecture amd construction 4,984 1,170biological sciences 1,468 414economics and administration 22,094 6,933engineering and technology 12,546 2,561environment protection 1,505 384IT 4,475 898journalism and information 517 165law 3,208 450manufacturing and processing 1,725 325maths and statistics 1,312 457medicine 7,526 2,010 pedagogy 9,174 4,483 physics 2,680 655 population services 4,162 1,350 defence and security 4,280 693 social sciences 9,349 2,624 social welfare 245 65 transport services 2,828 376


The seaside location of Tricity, the geographical proximity of Sweden and Denmark and the historical background favour the development of maritime and business relations with Scandinavia. For that reason, Pomeranian universities offer education in fields that are unique nationwide. The most interesting are: navigation (including maritime transport, offshore technologies, safety management in maritime transport, arctic shipping) at Gdynia Maritime University and ocean engineering and ship technology, including a major in subsea technologies at Gdańsk University of Technology funded in cooperation with General Electric.

navigation, oceanography > Gdynia Maritime University

oceanography > University of Gdańsk

biomedical engineering > University of Gdańsk

ocean engineering and ship technology, major: subsea technologies >

Gdańsk University of Technology

Scandinavian studies > University of Gdańsk

German studies > University of Gdańsk

Sinology > University of Gdańsk


TourismThe Pomerania region has a wide range of tourist attractions, which translates into visitor number. According to the Central Statistical Office, there are more than 1,400 places offering tourist accommodation in the Pomerania region. The number of hotels is increasing systematically. In 2013, there was an approximately 12% growth in the number of tourist hotels in comparison to the previous year. The number of people using accommodation and the number of overnight stays is also regularly increasing. Gdańsk and Gdynia as port cities also offer ferry connections to Scandinavia, which is important for tourism.

179Tricity

1,437POMERANIA

115Gdańsk

30Gdynia

34Sopot

The number of tourist accommodation establishments (2013, GUS)

126271157

Hotels by category in the Pomeranian province (2013, GUS)


INFRASTRUCTUREOne of the main assets of the region is its favourable geographical location, which provides excellent transport links. Two pan-European transportation routes of key importance for transit traffic cross the region:

• IA Corridor (Helsinki – Tallinn – Riga – Kaliningrad – Gdańsk), which is a branch of the I Corridor (Helsinki – Tallinn – Riga – Kaunas – Warsaw),

• VI Corridor (Gdańsk – Katowice – Zilina) which connects Scandinavia with Central-Eastern Europe and the countries of the Mediterranean basin.

The Pomerania region has “gateway region” status and therefore plays a significant role in the development of the Baltic-Adriatic transport corridor. Mainly thanks to the two seaports in Gdynia and Gdańsk, which are of critical importance to the national economy, operating oceanic (global) as well as European shipping lines. This is where the A-1 motorway begins – the main connection between north and south Poland. The No. E65 and CE65 railway lines also begin here, which are of great importance for the Baltic-Adriatic corridor.

The Pomerania region is currently witnessing a construction boom in transportation infrastructure. There are two reasons why so many new investment projects have come to Poland. One is the inflow of EU funds, the other was the organisation of the UEFA 2012 football championship that was a powerful stimulus for the economic development.

ROADS

The road with the greatest strategic importance is the A1 Motorway. It will form a part of the international route connecting Scandinavia with the south of the continent. The roads of national routes No. 7 (Gdańsk – Warsaw – Kraków) and No. 6 (Gdynia – Szczecin) are quite significant. In the near future, these routes will be extended and upgraded to expressways.

In recent years, road and rail infrastructure has also been intensively expanded. A whole range of intensive projects are underway at a central and regional level to create the integrated Baltic – Adriatic transport corridor. Poland’s geographic location, between two seas, the Baltic and the Adriatic, creates exceptional conditions for streams of cargo coming from ports on both seas to be serviced in our country.

RAIL CONNECTIONS

Rail connections in the Pomerania region constitute a very convenient method of cargo transportation for merchandise arriving at ports in Gdańsk and Gdynia by sea and then transported inland. Aside from local connections, important international railway routes also run through the region.

From 2014 onwards, connections between Gdynia and Warsaw and further to Kraków will be operated by state-of-the-art Pendolino trains, which will attain speeds up to 200km/h on this route. The journey from Gdańsk to Warsaw takes 2h 57 min.

In the very near future, three further investments will be completed which shall additionally facilitate transport within the region: the Pomeranian Metropolitan Railways, the Hel corridor, and the Koscierski corridor. The Pomeranian Metropolitan Railway will link Gdańsk and Gdynia with the airport in Gdańsk. What is more, the railway will provide direct connections between Gdańsk, Koscierzyna and Kartuzy. Thefirst trains will start carring passengers on 1 September 2015. PMR is the biggest rail investment in Poland and the cost is estimated at almost one PLN billion.

Transport


TransportAIR CONNECTIONSThe Lech Walesa International Airport operates in the region, providing connections with all the most important airports in Europe (56, therein 4 local connections). When compared to other airports in Poland, an unquestionable advantage is that it has the greatest number of air connections with Scandinavian countries. It is possible to fly from Gdańsk to Bergen, Copenhagen, Gothenburg, Malmö Sturup, Oslo, Oslo – Rygge, Oslo – Torp, Stavanger, Stockholm – Skavsta and Turku.

Since 2000, the passenger and cargo traffic at the airport in Gdańsk has been growing rapidly. Thanks to the completion of planned investments, the number of passengers may increase by 2020 to 7.5 million annually. At the moment, the airport is the third biggest regional airport (after Warsaw and Kraków) in terms of cargo traffic.

Passengers at Gdańsk airport in 2009-2014

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

4,500,000

2009 2010 2011 2012 2013 2014

Source: Gdańsk Lech Walesa Airport, April 2015

Cargo shipments at Gdańsk airport in 2009-2014

0

1,000

2,000

3,000

4,000

5,000

6,000

2009 2010 2011 2012 2013 2014

t


DROGI


Pomorskie

Warsaw

Turku

TrondheimAlesund

Molde

Stockholm-ArlandaOsloOslo-Torp

Oslo-Rygge

Bergen

StavangerKristiansand

Haugesund

Edinburgh

Dublin

Birmingham

Bristol London-LutonLondon-Stansted

Eindh oven

Groningen

Dortmund

Glasgow - Prestwick

Cork

Rome-FiumicinoRome Ciampino

Pisa

Malta

Milano-Bergamo

Pa ris -BeauvaisMunich

LiverpoolManchester

Copenhagen

Helsinki

KrakówCologne- Bonn

Zadar

Dubrovnik

Split

Go th enburg

Warsaw Modlin

Hamburg-Lubeck

Billund

Barcelona

Alicante

FrankfurtFrankfurt Hann

Brussels

Berlin

Stockholm-Skavsta

Doncaster-She�eldLeeds-Bradford

Aberdeen

Wrocław

Malmo-Sturup

Map of air connections from Gdańsk

Gdańsk

Transport



Modern office marketSUPPLYThe total supply of modern office space in the Pomeranian province is concentrated in the Tricity agglomeration. At the end of 2014, office resources available in Gdańsk, Gdynia and Sopot amounted to 0.5 million m2, of which ca. 400,000 m2 were for rent.

At present, Tricity is one of the most rapidly developing regional markets in Poland. Over the last five years, developers have completed 200,000 m2, which is half of the currently existing space for rent. The majority of new investments were delivered in Gdańsk, which remains the biggest office market in Pomerania.

Development of supply in the Tricity agglomeration

0

100,000

200,000

300,000

400,000

500,000

600,000

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

Total stock

(m2)

Annual supply

(m2)

Gdynia Sopot Total stock

Source: Colliers International, April 2015

At the end of December 2014, the office stock in Gdańsk stood at 282,400 m2, while the resources of the second biggest market, Gdynia, accounted for 102,000 m2. Supply in Sopot, which is the smallest market among the three, amounted to 12,500 m2.

Local developers remain the most active players in the Tricity market. Taking into account the amount of delivered space, the leading investors are Olivia Business Centre (the Olivia Business Centre complex), Torus (Arkońska Business Park, Alchemia), Allcon Investment (Allcon Park, Łużycka Office Park) Hossa (Garnizon.biz) and Euro Styl (BPH Office Park, Opera Office).

In 2014, 46,700 m2 of space was delivered to the market – 39,300 m2 in Gdańsk and 7,400 m2 in Gdynia. The biggest new buildings delivered during the period were Centrum Biurowe Neptun (15,300 m2, Hines), Olivia Four (14,700 m2, Olivia Business Centre) and BPH Office Park C (7,000 m2, Euro Styl).

As many as 111,000 m2 of office space are under construction planned for delivery within the next two years. Activity among developers is focused on Gdańsk, where 85,000 m2 are currently being built.

Investors are more and more interested in Gdynia, which is confirmed by the growing number of projects under construction, including Gdynia Waterfront (BTS, 10,000 m2, Vastint) and the first of the three buildings in the Tensor complex (4,300 m2 out of 18,000 m2, Euro Styl). Nevertheless, it should be noted that new investments located in the city are usually smaller scale projects.

DEMANDIn 2014, gross demand reached 65,600 m2, which constituted growth of over 50% as compared to the same period of 2013. The Gdańsk office market, due to its size and availability of vacant space in existing and planned buildings, recorded the strongest level of leasing activity. In the analysed period, transaction volume in the city amounted to 59,600 m2 (91% of total demand). Take-up registered in Gdynia was 6,000 m2.

The share of new deals (including owner-occupier contracts) stood at 81%. Renegotiations/renewals reached 15%, while expansions made up 4% of total demand.

Tenants looking for office space choose buildings located along the main Tricity transport axis, which guarantees easy access to public transport, business-related services and other amenities.


Selected lease transactions in 2014

TENANT AREA (m2) BUILDING

Arla Foods 3,400 CB Neptun Gdańsk

Compuware 3,100 Alchemia Gdańsk

Sii 2,700 Olivia Business Centre Gdańsk

Amazon 2,700 Olivia Business Centre Gdańsk

Young Digital Planet 2,500 Łużycka Plus

Gdynia

Your CCC 1,200 Olivia Business Centre Gdańsk


VACANCY RATEOver the last two years, the vacancy rate in the Tricity agglomeration has not undergone any substantial fluctuations. At the end of 2014, the vacancy rate for the whole agglomeration stood at 12.6%, which resulted in nearly 50,000 m2 of space available for immediate lease. The highest vacancy rate was recorded in Gdańsk (14.4%), with Gdynia (8.4%) coming second and then Sopot (6.9%). Schemes under construction were leased in 20%.

Available space and vacancy rate in the Tricity agglomeration

0%

3%

6%

9%

12%

15%

18%

0

10,000

20,000

30,000

40,000

50,000

60,000

2009 2010 2011 2012 2013 2014

Vacant space (m2) Vacancy rate (%)


RENTSDuring the year, rental rates for modern office space remained unchanged. Average base rents for office space in A-class buildings varied from EUR 12.75 to EUR 15/m2/per month, while in B-class schemes rates ranged from EUR 10.5 to EUR 12.5/m2/per month. Additional incentives included rent-free period (usually 1 month for each year of the lease term) and a fit-out budget.

TRICITY COMPARED TO OTHER REGIONAL MARKETSThe Tricity agglomeration is the third largest regional market in Poland, after Kraków and Wrocław. At the end of 2014, the office stock in Tricity constituted 15.7% of the total supply available in the eight major regional markets (2.5 million m2).

In 2014, the supply of modern office space in the eight major regional markets increased by 306,000 m2. Most of newly completed space was delivered in Kraków (111,000 m2), Wrocław (56,000 m2) and Katowice (55,800 m2).As compared to other regional markets, Tricity is characterised by a relatively high level of activity among developers – there is more office space under construction in Wrocław (160,000 m2) and Kraków (140,000 m2).

During the analysed period, most of the markets recorded an increase in leasing activity. Kraków and Wrocław achieved the highest results in terms of total transaction volumes (117,200 m2 and 94,700 m2 respectively). Tricity, with take-up levels totalling 65,600 m2, recorded the third-best result.

Modern office market


Existing supply, space under construction and vacancy rates in the eight major regional markets in Poland

5.6%

11.1%

12.6% 14.3% 13.2%

11%

15.8% 13.5%

0%

5%

10%

15%

20%

25%

30%

35%

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

Existing supply Space under construction Vacancy rate (%)


The vacancy rates in almost all regional cities exceeded 10%. The only exception was Kraków, where the vacancy rate was 5.6% at the end of 2014.

Rental rates in the regional cities ranged from EUR 10 to EUR 15.5/m2 per month. The most competitive leasing conditions were offered in Lublin and Łódź (EUR 10-13.5/m2 per month). The highest rents were in Kraków (EUR 13.5-15.5/m2 per month), mainly due to limited availability of space for rent.

Rental rates in major regional cities (EUR/m2/month)

10-13

11-14

11.5-13.5

12-14

12.5-15

12.75-15

12-15

13.5-15.5

9 10 11 12 13 14 15 16 17

Lublin

Szczecin

Katowice

Tricity


TRENDSIn 2015, 90,000 m2 of new office space will enter the market. As usual, the majority of the new supply (75%) will be delivered in Gdańsk, including Tryton Business House (21,800 m2, Echo Investment), phase II of Alchemia (19,000 m2, Torus) and Olivia SIX (15,000 m2, TPS). New supply planned for delivery in Gdynia is estimated at 19,800 m2, 10,000 m2 of which will be completed within the Gdynia Waterfront scheme. The office stock in Sopot will grow by 2,100 m2 (Nowe Centrum Sopotu).

In 2015, the vacancy rate is anticipated to trend upwards, mainly due to the high level of new supply. Strong competition from newly developed schemes will translate into a growing vacancy rate in older buildings. This trend will affect primarily the Gdańsk office market, where there is the highest level of construction activity.

Developers are trying to increase the attractiveness of their offer and distinguish it from their competitors. As a result, more and more new office investments offer additional amenities such as a fitness club, kindergarten and laundry. What is more, an increase in the number of buildings with green certificates can be observed.

The development of transport infrastructure, particularly the completion of the Pomeranian Metropolitan Railway, may have a significant impact on the office map of the Tricity agglomeration. Thanks to improved transport links within the western part of the agglomeration, existing office buildings as well as potential new developments located in this area might gain in importance in coming years.

Modern office market


Tricity - office map

WIELKOPOLSKA

Gdańsk Wrzeszcz

Gdańsk Główny

Gdańsk Oliwa

Sopot

Gdynia Orlowo

Gdynia Głowna

7

S6

S6

E28

E28

E28

S6

89468

20

501

501

222

218

472

89

91

Rumia

Grudziądz

Gdynia

Sopot

Gdańsk

Pruszcz Gdański

<10 buildings

10-15 buildings

>15 buildings

MAIN OFFICE LOCATIONS

CLICK TO SEE LIST OF OFFICE

PROPERTIES ONLINE

www.officemap.pl



http://www.officemap.pl/search/?city=trojmiasto

THE SUPPLY OF SHOPPING CENTRES (EXISTING, UNDER CONSTRUCTION AND PLANNED SCHEMES)There are approx. 847,000 m² of retail space available to residents and visitors in Pomerania in 34 shopping centres. The supply of retail space is concentrated in the Tricity agglomeration, where 25 facilities operate with a total gross leasable area (GLA) of approx. 692,000 m². In addition to Tricity, there are smaller cities such as Słupsk, Chojnice and Tczew, which offer retail premises, catering and service points in shopping centres.

Taking into account the number of inhabitants, retail space density is 371 m2 per 1,000 inhabitants for Pomerania as a whole and 674 m² per 1,000 inhabitants for the Tricity agglomeration. The highest density is noted in Słupsk (995 m2 per 1,000 inhabitants) and in Gdańsk (977 m2 per 1,000 inhabitants).

Retail space structure by location in Pomerania

53%

21%

11%

3%

2% 1%

9%

Gdynia

Chojnice

Tczew

Malbork

other locations


In terms of the types of space, the retail market in Pomerania is highly varied. Consumers have the choice of traditional shopping centres including city-centre shopping and entertainment centres, hypermarkets, small convenience shopping centres (80% of space) and also retail parks (18%) and one outlet centres (2%).

The largest shopping centre in Pomerania and in the Tricity agglomeration remains Matarnia Retail Park with an area of almost 81,300 m² GLA. It is located in Gdańsk near the ring road, built in phases in 1998-2010. The largest retail centre in Gdynia is Riviera with an area of 70,500 m² GLA. Two Tricity shopping centres (Riviera in Gdynia and Galeria Bałtycka in Gdańsk) lead

the market in terms of diversity. Each of these sites has 200-250 shops, cafes, restaurants, services and entertainment outlets. Among the smaller cities, the largest shopping centre is located in Słupsk (Jantar 46,000 m² GLA) and the next in terms of size is in Chojnice (Brama Pomorza 25,300 m² GLA).

Historically, the modern retail market in Pomerania began to develop in the middle of the 1990s and the first full-scale shopping centre – Klif in Gdynia – was built in 1996. Further development of the market came with the entry of major retail chains to Poland such as IKEA, Geant, Real, HIT, Tesco, Carrefour and Auchan, which built sites according to their needs with additional units for rent. Moreover, national and international developers appeared on the market and started to build shopping centres at first in the Tricity agglomeration and subsequently in smaller towns in Pomerania. The last five years has seen investments mainly in smaller retail schemes in Tricity, as well as the modernisation and expansion of old schemes, including the most spectacular expansion of Wzgórze shopping centre (currently Centrum Riviera).

Evolution of retail stock in the Tricity agglomeration 1993-2014

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

Extensions New projects Total supply

Annual supply (m2) Total supply

(m2)


Currently in Pomerania, approx. 74,000 m2 GLA of new retail space is under construction, both in the Tricity agglomeration and in smaller cities. The largest new shopping mall under construction is Galeria Metropolia in the vicinity of the Pomeranian Metropolis Railway station Gdańsk Wrzeszcz. Furthermore, the most spectacular modernisation of an existing site is the expansion of Centrum Morena in Gdańsk. An additional 90,000 m2 GLA is at an advanced stage of planning, including Forum Radunia in the vicinity

Modern retail market


of the main railway station in Gdańsk. Starogard Gdański (Galeria Neptun) and Kwidzyn (Galeria Liwa) have joined the commercial locations that developers are interested in. It is worth to mention the construction of New Centre in Sopot – a multifunctional project, which combines the function of railway/SKM station with retail and services. The complex will also include office area and a hotel. It is the first such project in the city of Sopot.

VACANCY RATEThe demand for units in shopping centres in Pomerania remains at a good level; however, it is strongly dependent on location and the quality of the site. Most of the national and international retail chains operating in Poland are already present in the Pomeranian market and operate in more than one location. However, retail chains are looking for units for the development of their new brands. The highest demand is observed in the health&beauty, gastronomy and sport&recreation sectors. At the end of 2014, the vacancy rate in the Tricity agglomeration amounted to 1.8% and displayed a downward trend.

The vacancy rate in the Tricity agglomeration (2011-2014)

0,0%

0,5%

1,0%

1,5%

2,0%

2,5%

3,0%

3,5%

4,0%

4,5%

H1

2011

H2

2011

H1

2012

H2

2012

H1

2013

H2

2013

H1

2014

H2

2014

4.5%

4.0%

3.5%

3.0%

2.5%

2.0%

1.5%

1.0%

0.5%

0.0%


RENTAL RATESRental rates for retail space depend on the city, location and quality of the site as well as the area leased and the industry in which tenant operates. The highest rents in Pomerania are in Tricity shopping centres, where rates for a unit between 100-150 m2 from the fashion sector reach EUR 41-43/m2/month. In smaller Pomeranian cities, the rates for similar premises are in the range EUR 23-25/m2/month. Tenants also have to pay a service charge between EUR 7-9/m2/month. Incentives are available in the market for anchor tenants such as partial

financing of the arrangement of the premises, suspension of operating costs and a step rent based only on a percentage of turnover.

SHOPPING STREETS*In each of the major cities in Pomerania, apart from leasable area in shopping centres, there are commercial units in city centres situated on the main shopping streets. Depending on the city, there are different types of streets – some offer daily shopping, some of them are focused on tourists and others concentrate on exclusive goods. The most interesting shopping streets in Pomerania are in Gdańsk, Gdynia and Sopot. In Gdańsk, the main shopping streets are Długa Street, Długi Targ Street and Stągiewna Street, in Gdynia there is Świętojańska Street and in Sopot-Boh. Monte Cassino Street.

While Długa Street (approx. 55 units) and Długi Targ Street (approx. 30 units) are adapted for tourists with plenty of restaurants, cafes, souvenir shops and jewellery stores, Stągiewna Street (approx. 20 units) is dominated by services including banks and grocery stores. Tenants from gastronomy sector in Gdansk city centre include: Hard Rock Cafe, Sphinx, Grycan, Subway, Soprano ice cream, Sowa confectionery, Green Way and Costa by coffeeheaven.

On Świętojańska Street in Gdynia (approx. 270 units), apart from services and gastronomy, there are stores from the non-food sector including well-known brands such as: Rossmann, Hebe, Douglas and Empik.

Boh. Monte Cassino Street (approx. 100 units) is a very varied street with plenty of gastronomy units, services and grocery stores but it also offers a lot of brands from the fashion sector such as: H&M, Reserved, Big Star, Adidas, Reebok, Nike and Puma. On Boh. Monte Cassino Street there are small commercial buildings offering service units such as DH Monte, Krzywy Domek, Laura (old DT Bryza), Haffner Centre and Dom Zdrojowy.

* As for Q3 2014



THE RETAIL MARKET IN TRICITY COMPARED WITH OTHER POLISH AGGLOMERATIONSThe largest modern retail market in Poland is the Warsaw agglomeration, which offers 43 shopping centres totalling 1.4 million m2 GLA. The most saturated market is the Wroclaw agglomeration with a density ratio of 765 m2 per 1,000 inhabitants. Most modern retail space (107,000 m2 GLA) is being currently built in the Poznań agglomeration. Across the eight major Polish retail markets, the highest vacancy rate is noted in the Katowice conurbation (3.5%). However, the highest rental rates are in the best shopping centres in Warsaw and are in the range EUR 95-100/m2/month for premises 100-150 m2 GLA for the fashion sector.

Compared to the markets from other agglomerations, Tricity is a relatively well saturated market in terms of shopping centres. A further increase in competition in the Tricity agglomeration is expected as new supply will be delivered to the market in 2015-2017. The low level and stability of the vacancy rate is evidence of the good condition of the lease market. The level of rents place Tricity in the middle of the ranking.

TRENDSThe modern retail market in Pomerania is a mature one in which different types of retail schemes operate in the Tricity

agglomeration as well in smaller cities. However, there are market niches for new investments. New shopping centres will be built in Gdańsk as well in Starogard Szczeciński, Kwidzyń and Malbork. A significant investment in the region is Forum Radunia in Gdańsk (62,000 m2 GLA), which is planned to be delivered to the market in 2017.

The modern retail market in Pomerania will develop through the expansion of existing facilities with a stable trading position, an example of which is the ongoing expansion of the Morena shopping centre in Gdańsk. Moreover, small retail parks and shopping centres located in the vicinity of large residential areas and city-centre mixed used commercial buildings will be built.

Demand for modern retail space will remain selective and rents will be in a slight downward trend due to increasing competition and the expansion strategy of retail chains. In the coming years, new entrants to the market will be limited but new retail brands will appear as newly created brands by existing chains.

In the coming years, the development of technology and access to information, e-commerce and “green building” will shape the modern retail market, which will enter a phase of qualitative changes in place of quantitative.

Basic data of modern retail space market in major agglomerations

CITY SUPPLY (m² GLA)

DENSITY (m² GLA/ 1,000

inhabitants)

SPACE UNDER CONSTRUCTION

(m² GLA)

VACANCY RATE (%)

RENTAL RATE EUR/m²/month

(unit 100-250 m² GLA)

Warsaw agglomeration 1,422,800 560 66,000 1.6 95-100Upper Silesia 1,109,200 510 53,000 3.5 45-47Tricity agglomeration 692,500 674 44,000 1.8 41-43Poznań agglomeration 622,300 759 107,000 3.3 45-47Wrocław agglomeration 599,800 765 50,000 2.6 43-45

Kraków agglomeration 549,400 534 0 2.8 45-47

Łódź agglomeration 508,400 520 46,000 2.4 37-39

Szczecin agglomeration 275,300 494 0 3.3 37-39




WIELKOPOLSKA

Gdańsk Wrzeszcz

Gdańsk Główny

Gdańsk Oliwa

Sopot

Gdynia Orlowo

Gdynia Głowna

7

S6

S6

E28

E28

E28

S6

89468

20

501

501

222

218

472

89

91

Rumia

Grudziądz

Gdynia

Sopot

Gdańsk

Pruszcz Gdański

1. Centrum Kowale

2. Fashion House

3. Morski Park Handlowy

4. Rental Park

5. Auchan

6. Matarnia Park Handlowy

7. CH Morena – in extention

8. Tesco (Galeria Chełm)

9. Madison

10. Manhattan

11. Galeria Bałtycka

12. ETC

13. Oliwa

14. Real

15. Alfa Centrum

16. Galeria Przymorze

17. Osowa

18. Tesco

19. Klif

20. Centrum Riviera

21. Batory

22. Galeria Szperk

23. Tesco

24. Galeria Rumia

25. Auchan Port Rumia

26. Galeria Metropolia – under construction

27. Verus – under construction

28. New Centre in Sopot – under construction

1

4

5

6

7

8

9

12

16

17

18

19

20

21

22

23

27

26

RETAIL PROJECTS

23

1514

13

11

10

2425

28

Tricity - retail map



SUPPLYThe total supply of modern industrial space in the Pomeranian province is 257,900 m2, available within 11 existing projects. The stock is concentrated in the Tricity agglomeration (Gdańsk, Gdynia) and its surrounding commune (Pruszcz Gdański, and Kowale). The other locations (Malbork, Słupsk, Chojnice) offer predominantly B-class projects, which are not included in the general statistics.

Gdańsk is characterised by having the largest total amount of space among existing projects: Prologis Park Gdańsk I (91,000 m2), Panattoni Park Gdańsk (46,870 m2) and Pomeranian Logistics Centre (14,100 m2). The second location in terms of total supply is the Kowale commune, where three stages of Centrum Logistyczne Kowale (55,300 m2) and the Torus warehouse (7,300 m2) are located. Another 28,500 m2 are offered in Centrum Magazynowe Hutnicza (12,000 m2) and the Port of Gdynia Authority warehouse (16,500 m2) located in Gdynia. The stock of modern industrial space in Pruszcz Gdański totals 15,200 m2, offered within two projects: Centrum Logistyczne Pruszcz Gdański (10,000 m2) and SEGRO Logistics Park Gdańsk (5,200 m2).

Supply of modern industrial space in Pomeranian province by location

59%

11%

6%

24%

Gdynia

Kowale


The rapid development of the Tricity industrial market dates back to 2007, when the supply increased from 7,300 m2 to over

88,000 m2 due to the completion of projects totalling 81,000 m2 – four stages of Prologis Park Gdańsk I (71,300 m2) and Centrum Logistyczne Pruszcz Gdański (10,000 m2). During the following seven years, approximately 24,200 m2 of modern industrial space were delivered to the market yearly. However, it is worth noting that 2009 was a period when no completions were recorded in the Tricity industrial market. It was a result of an economic slowdown, the results of which were observable in all Polish industrial markets. In 2014, total industrial stock grew by 52,300 m2, delivered within four completed projects: two further stages of Panattoni Park Gdańsk (17,400 m2), the third stage of Centrum Logistyczne Kowale (18,400 m2) and a warehouse of the Port of Gdynia Authority (16,500 m2).

Development of supply of modern industrial space in Tricity market

0

50,000

100,000

150,000

200,000

250,000

300,000

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

Total supply (m2) New supply (m2)


VACANCY RATEAt the end of 2014, 12,300 m2 of modern industrial space remained unleased in the Tricity market, which constitutes 4.8% of total existing stock. In years 2010-2014, the vacancy rate in the analysed market varied between 2.5% and 6.9%, excluding the period June 2011 to June 2012, when a temporary surge in the figure was observed, up to 13.3%.

Modern industrial market


Vacancy rate in Tricity industrial market in 2010-2014

0%

2%

4%

6%

8%

10%

12%

14%


DEMANDIn 2014, 89,100 m2 of modern industrial space were leased in the Tricity market, within 24 signed leasing agreements. Over half of this space (46,100 m2) was leased in the last three months of the year. Approximately 28% of tenant activity in 2014 was made up of BTS agreements. Another 28% were leased within renegotiations. The average transaction size in 2014 was 3,715 m2.

Demand in Tricity industrial market in 2006-2014 (m2)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

m2

New deals Renegotiations


The yearly transaction volumes in the period 2006-2010 did not exceed 40,000 m2 and demand was represented predominantly by new agreements. In the following years, the demand for modern industrial space increased significantly from 15,200 m2 noted in 2010 to over 68,000 m2 leased one year later. At the same time, an increase in the share of renegotiations in demand

was observed. During past four years (2011-2014), tenant activity reached between 60,700 m2 and 89,100 m2.

Taking into account the sum of industrial space leased between 2006 and 2014, the major group of tenants in the Tricity industrial market are representatives of the 3PL sector (Third Party Logistics). Logistics companies present in the analysed market include DSV, Nagel, Raben and Schenker. The activity of the 3PL sector constituted 39% of the demand recorded in the analysed period. Another 24% of industrial space was leased by companies representing the FMCG (13%) and retail (11%) sectors. The remaining share of demand was made up of agreements entered into by companies from other sectors. The average transaction size in the period was 3,744 m2.

Tenants by sectors (by total leased space in 2006-2014)

39%

11%

34%

3%

13%

3PL

FMCG

Other

Production

Retail


RENTAL RATESDuring past three years, the rental rates in A-class warehouse projects in the Tricity region remained at a relatively stable level with a slight downward trend between 2012 and 2013. At the end of Q4 2014, the effective rates for prime industrial space varied between EUR 2.50/m² and EUR 3.50/m². A slight decrease in the rental rates was observed at the beginning of 2015, stabilising in the range from EUR 2.50/m² to EUR 3.20/m2. Tenants who decide to rent industrial space in the Tricity market are able to negotiate very attractive lease conditions.

Apart from rent, tenants also have to pay a service charge. The average rate of this fee in A-class industrial projects in the Pomeranian market is EUR 1/m2. Moreover, the consumption of utilities constitutes an additional fee. Value Added Tax must be added to lease costs.



Effective rental rates in Q4 2014 (EUR/m²)

REGION MIN. (EUR/m²) MAX. (EUR/m²)

Warsaw I 3.40 5.00

Warsaw II 2.00 2.90

Warsaw III 2.00 2.90

Central Poland 1.90 2.90

Poznań 2.20 2.90

Upper Silesia 2.00 3.00

Kraków 3.70 4.60

Wrocław 2.40 3.20

Tricity 2.50 3.50Toruń/Bydgoszcz 2.20 2.80

Szczecin 2.80 3.50


TRICITY COMPARED TO OTHER INDUSTRIAL MARKETSThe Tricity region is a sixth largest industrial market in Poland in terms of existing space, after Warsaw (3 zones), Upper Silesia, Central Poland, Poznań and Wrocław. In Q4 2014, the supply in Tricity represented ca. 3% of the total industrial stock in major Polish markets.

The vacancy rate noted at the end of 2014 in the Tricity region (4.8%) was by 0.7 p.p. lower than the general vacancy rate calculated in Poland (5.5%).

The analysed market is characterised by a relatively high volume of space currently under construction, which exceeded 66,000 m2 at the end of 2014 and was the third largest figure among the nine major Polish industrial markets.

Supply and vacancy rates in major Polish industrial markets (Q4 2014)

0%

5%

10%

15%

20%

25%

30%

35%

0

250,000

500,000

750,000

1,000,000

1,250,000

1,500,000

1,750,000

2,000,000

supply vacancy rate

m2


In terms of take-up recorded in 2014, the Tricity industrial market was in sixth position. Compared with other markets, Tricity recorded a relatively high ratio of renegotiations in the total leased space (28%). A larger share of renegotiations than in the Tricity market was observed only in Upper Silesia (45%) and Warsaw (39%).

TRENDSAt the end of December 2014, three projects exceeding 66,000 m2 remained under construction: two stages of Pomeranian Logistics Centre (39,300 m2) and a second building within SEGRO Logistics Park Gdańsk (27,100 m2). Nearly 80% of space under construction has already been secured by leasing agreements. The completion of all projects under construction is planned for 2015.

A significant number of projects planned for construction are observable as well. However, those will not be purely speculative projects: developers will aim to secure at least some part of their planned investments with leasing agreements.

In the upcoming quarters, the vacancy rate may increase slightly; however, this will be a temporary phenomenon.

Rental rates are forecast to remain at a stable level.



WIELKOPOLSKA

Gdańsk Wrzeszcz

Gdańsk Główny

Gdańsk Oliwa

Sopot

Gdynia Orlowo

Gdynia Głowna

7

S6

S6

E28

E28

E28

S6

89468

20

501

501

222

218

472

89

91

Rumia

Grudziądz

Gdynia

Sopot

Gdańsk

Pruszcz Gdański

INDUSTRIAL PROJECTS

1. SERGO Logistics Park Gdańsk

2. Centrum Logistyczne Pruszcz Gdański

3. Pomorskie Centrum Logistyczne

4. Panattoni Park Gdańsk

5. Prologis Park Gdańsk

6. Centrum Logistyczne Kowale I

7. Centrum Logistyczne Kowale II

8. Centrum Logistyczne Kowale III

9. Centrum Logistyczno-Magazynowe Kowale

10. Centrum Magazynowe Hutnicza

11. Port of Gdynia Authority

Tricity - industrial map

1

4

5

68

9

2

3

10

11

7


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The Tricity agglomeration is one of the fastest growing regions in Poland, especially due to our new transport infrastructure. The result is a significant increase of the attractiveness of land along new main routes. In terms of the investment land market, 2014 proved to be extremely stable. Interest rates were reduced, which had a positive effect on the situation. Additionally, the government prepared a new financial support program called Apartments for Youth (MdM), designed to support the purchase of flats. The Bank Supervision Commission also changed its Recommendation S, which allowed for a 5% buyer deposit on mortgage loans until the end of 2014 and 10% from January 2015.

The land market for office developments in Tricity is growing rapidly, primarily through investments from the modern business service sector. A large number of new locations and a high level of supply mean that Gdańsk offers most modern office space (over 60%), while Gdynia has about 30% of volume and Sopot only 6-7%. It is worth nothing that in recent years new office locations have appeared such as Oliwa and Wrzeszcz, areas near the airport in Gdańsk and Łużycka Street in Gdynia. The next significant location is the waterfront in Gdynia, primarily through the approved Special Zoning Plan for Shiprepair Yard Nauta S.A., which is creating a unique business character along the shoreline. Land prices for office developments in Tricity slightly decreased in 2014 (by 1% compared to 2013), thereby stabilising the price of land in the region.

Analysing land for retail projects, previous year was not easy for developers. The prices for retail plots remained stable for both shopping centre and retail park sites.

In the Tricity agglomeration in 2014 far fewer residential projects were delivered to the market than in 2013. However, the number of building permits significantly increased last year and a high level is predicted for 2015. The first three quarters of 2014 in the residential sector were characterised by a stable purchasing rate. However, there were many transactions at the end of the year, especially in Gdańsk. Prices for residential land in Tricity remained at an unchanged level.

According to data published by the Central Statistical Office, Tricity is the fourth investment market in Poland. Price stability and a low number of spectacular transactions are typical for the Tricity market. Not only local developers but also investors outside from the Tricity area invest in the region. They often choose Tricity because of its growing infrastructure, attractive labour market, strong local economy, favourable investment climate and access to land that is well-prepared in respect of administration and law and on which investments can be started quickly.

Investors are looking for markets where residential prices, leasing conditions and demand guarantee a fast return on equity. The shortage of land fulfilling the requirements of developers means that despite the relatively high level of supply, the demand for land has not been fully satisfied.

The low level of interest rates and the increased popularity of apartments are favouring the purchase of land. In 2014 in Tricity, investors were keen to analyse land for residential projects and dedicated 75% of their funds for these kinds of investments, compared to 15% for office and retail projects and 10% for industrial projects. A high level of sales was noted among state-owned enterprises, the Military Property Agency, the Agricultural Market Agency and other local government units.

When summarising 2014, it is worth looking at the slowly developing alternative for development contracts-i.e. the option of carrying out investments in a Joint Venture/cooperation formula. In 2015, we can expect a few interesting premiers in the cooperation formula, for example the yet undeveloped land on Spichrzów Island, Polski Hak and the above-mentioned company Nauta.

In the near future, Tricity will still be attractive for investors mainly from the residential and office sectors. The rapid development of transport, road and port infrastructure is noticeably changing the geometry of Tricity investment. The Pomeranian Metropolitan Railway or road tunnel under the Dead Vistula will have a significant impact on the growth in the attractiveness of land in the vicinity of these investments. When it comes to retail investments, we do not predict significant changes in the upcoming future.

Land market


The ports in Gdańsk and Gdynia are the largest such facilities in the south Baltic Sea region. The increasing number of transhipments and the resulting greater importance of the ports in Gdańsk and Gdynia as distribution and transit centres are the motivation for numerous investments. Port infrastructure is being adapted on an ongoing basis to changing market requirements for handling cargo and vessels, which makes it possible to service different types of cargo. Both ports offer a broad range of services and are capable of handling any type of merchandise.

Sea transport connections are available from Pomeranian ports to all corners of the world, including to Asia (including China, Taiwan, Singapore, Lebanon), North America (the USA, Mexico), South America (including Guyana, Venezuela, Colombia) and Central America (including Guatemala, Honduras, Costa Rica), and also European ports (including Rotterdam, Hamburg and St. Petersburg).

There are four container terminals operating in Tricity. DCT Gdańsk ranks first in terms of capacity, reaching more than 1,000,000 TEU. As result of the planned investments, the total capacity of the terminal will increase up to 4,000,000 TEU by 2016. In addition to DCT Gdańsk and Gdańsk Container Terminal (GTK), there are also two big, state-of-the-art container terminals operating at the Baltic Container Terminal (BCT) and Gdynia Container Terminal (GCT). Since 2003, the operator of BCT has been ICTSI international corporation, registered in the Phillipines. Starting from 2005, a number of investments at the Port of Gdynia have been implemented by Hutchison Port Holdings (HPH), which have resulted in the conversion of the shipyard company into and advanced container terminal.

PORT OF GDAŃSKThe port in Gdańsk offers a state-of-the-art deep-water container terminal on the Baltic Sea – DCT Gdańsk. The DCT is a port hub for this part of Europe, a transport gateway to the world. Thanks to the capabilities offered by the terminal, in January 2010 the Pomerania region acquired a direct connection with Asia within the Maersk Line service. Beginning from mid August 2013, the service has been handled by ‘Triple-E’ state-of-the-art vessels, with a capacity up to 18,000 TEU (20-foot containers). In March 2013, the Port of Gdańsk and CEO of the Deepwater Container Terminal Gdańsk signed a contract for a second container terminal – DCT II, that will increase transshipment capacities up to 4 million TEU. The cost of the investment is estimated at EUR 250 million.

One of the largest investments in Pomeranian ports and at the same time in Polish petroleum logistics is the construction of a liquid fuels transshipment base. The estimated value of the investment is approximately PLN 800 million. It is the only such investment in the Baltic Sea region.

Ports

Photo: Container Terminal DCT Gdańsk


In addition to transport infrastructure, the Pomerania region also offers a well-developed logistics base. On port land, near the state-of-the-art container terminal DCT Gdańsk and the Sucharskiego Route, an area of 110 hectares has been leased by Goodman Poland.

The investor will carry out infrastructure and warehouse investments within the Pomeranian Logistic Centre. 500,000 m2 of warehousing, production and office space will come into being. The investment is estimated at EUR 300 million. The second stage of the project is due to be completed by the end of 2016.

DCT with Goodman implements the concept of Port Centric Logistics based on the London standard. This is the first center in Europe which integrate port and logistics functions on a larger scale than it is in London. This solution allows to reduce transport costs and save time.

PORT OF GDYNIAOn the other hand, the Port of Gdynia is maintaining its competitive advantage by investing in an increase in handling capacity and a development of the port’s communication infrastructure. The most ambitious project was the dredging

of the port channel to 13.5 m, which allows it to serve larger vessels. The total cost of the project was PLN 95 million.Additionally, in January 2014, the Port of Gdynia Authority (PGA) signed a contract to acquire a section of the Guest Quay from the Naval Shipyard. The PGA plans to knock down the part of the quay in order to build a new turn basin with a diameter of 480 metres. The following stage of the investment will be to deepen the approach channel from the current 13.5 m to 15.5 m. As a consequence of the investments conducted by the Port of Gdynia Authority, the port will be able to receive ocean-going vessels of a capacity of 14,000 TEU (currently Gdynia handles container ships of 6,000-7,000 TEU) and of length of 380 m.

Also in the western part of the Port of Gdynia, a Logistics Centre will be created in the vicinity of the two existing large container terminals. It is planned that various businesses will operate within the centre, in particular logistics operators, enterprises providing storage services and forwarding companies, as well as other providers of logistic services, which will be able to adjust the space and improved land to their needs.

Photo: Baltic Container Terminal (BCT) in Gdynia, photo T. Urbaniak

Ports


Cargo shipments at Pomeranian ports in 2007-2014 [t]

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000

t

Source: Ports in Gdańsk and Gdynia

Container shipments in Pomeranian ports in 2007-2014 [TEU]

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

TEU

Source: Ports in Gdańsk and Gdynia

Logistic sector companies operating in the region:

DCT Gdańsk, Goodman, ProLogis, PANATTONI, GCT, BCT, Europort Grain Terminal, EuroPort Inc. Poland, C. Hartwig Gdynia, Terramar, Balticon, LPP S.A., ATC Cargo, Jeronimo Martins, Netto,KGI Glomb Logistics, DAMCO, Maersk Line, ROHLIG SUUS Logistics, Europol, Grain, Segro, Schenker DB, Gefco Wincanton, Raben, Poczta Polska, Cargoforte, Dachser, Kuehne&Nagel, Panalpina, Aalborg Portland Polska

Ports


CONTACTS

Magdalena Piechota – SieczkowskaPR&MARKETINGInvest in Pomerania+48 58 32 33 [email protected]

Dominika JędrakDIRECTOR | RESEARCH AND CONSULTANCY SERVICESColliers International Poland+48 666 819 [email protected]

Błażej KucharskiREGIONAL DIRECTOR | TRICITY | OFFICE AGENCY | REGIONAL MARKETSColliers International Poland+48 661 660 [email protected]

WE KNOW WHERE TO INVESTTRICITY

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Almost all global corporations can be found among the tenants of office buildings, shopping centers, and industrial and logistics sites in Poland. For this reason real estate in Poland attracts capital from around the world. In 2014, the total value of investment transactions in Poland amounted to EUR 3.18 billion. Approximately 60 percent of capital was invested outside Warsaw.

The Tricity is one of the most rapidly developing regional markets in Poland. That is why Colliers office is here. Call us: +48 22 331 78 00

Gdańsk | Katowice | Kraków | Łódź | Poznań | Warsaw | Wrocław

colliers.pl

www.investinpomerania.pl

Invest in Pomeraniaul. Arkońska 61 80-387 Gdańsk POLAND+48 58 32 33 254

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Colliers International PolandPl. Piłsudskiego 3

00-078 WarsawPOLAND

+48 22 331 78 00

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