Long-term manager and developer of logistics warehouses, P3 Logistic Parks, continues to record strong growth over the past 12 months. This has been driven, in part, by the boom in online demand, which has fuelled the need for strategically-located warehouses in Europe. P3’s customer base has grown by 20 percent, with customer retail share surpassing 30 percent for the first time in the company’s history.
P3’s fundamentals remain strong. Throughout 2018, the company’s portfolio grew by almost half a million square metres, offset by the strategic disposal of 250,000 square metres of non-core assets. This includes construction starts and a development pipeline exceeding 1.2 million square metres of committed BTS (built to suit) and speculative development projects. Occupancy in the portfolio remains above 95 percent.
“The logistics industry is experiencing a perfect storm of investment appetite, customer demand and technological innovation,” said Ian Worboys, Chief Executive Officer of P3 Logistic Parks, as cited in the press release. “No longer consigned to the shadows, the logistics industry is now one of the most attractive and stable investment classes around.”
In terms of Slovakia, Bratislava and its surroundings is still a strong region.
“But the new logistics properties in northern and central Slovakia are also intensively increasing and the east of Slovakia is also attractive,” said Peter Jánoši, Managing Director of P3 Logistic Parks for Slovakia.
P3 will open a new modern urban park this year at Bratislava Airport with an initial capacity of more than 87,000 square metres. It wants to still seek potential for further development in the locations where it operates.
P3 has headquarters in Prague and logistic parks in nine countries across Europe, with more than 4.1 million square metres of lettable space under management and a land bank of over 1.3 million square metres for further development.