Europe is changing, interest in warehouses and halls remains high, Accolade figures confirm
Fewer orders, but more interested parties. The industrial construction market is changing, it reflects the European path to independence, says the head of the Accolade construction investment company, which manages millions of square meters of halls and warehouses.
More than three million square meters of warehouses and production halls and an increase in rental income by almost a third. Although the overall construction market fell last year, this is certainly not the case for industrial real estate.
Last year, Accolade leased or extended leases for 550,000 square meters; the total rental income was 3.7 billion crowns.
The mirror of the economy
“The Accolade group results are such a mirror of the entire economy. We can see that there are fewer requests, but they are rather really large projects. An example is the Ostrov North Park with a total area of 120,000 square meters or the Cheb East Park with an area of 60,000 square meters for the American tire manufacturer Goodyear. This was not so common before,” says Accolade boss Milan Kratina.
Therefore, the company continues to invest in construction – and for most of the projects on more than 745,000 square meters, it already has tenants.
“In 2023, we felt a significant increase in tenants connected to the industry. This once again confirms Europe’s path to greater self-sufficiency, and it also shows a certain reshaping of the industry – whether it is automotive or engineering and overall manufacturing companies that today hold demand and need to grow in Europe. Thanks to this, we continue to expand our network of industrial parks,” added Kratina, adding that the group currently cooperates with approximately 180 tenants across Europe.
The total value of Accolade’s portfolio was 75 billion crowns last year. The largest part comprises projects in Poland with one and a half million square meters of leasable space, followed immediately by the Czech Republic. The company also manages hundreds of thousands of square meters in Germany, Spain, or the Netherlands and has recently entered Croatia.
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Article author: Zuzana Hodková
Source: Seznam Zprávy
