The new 42,800 m2buildingis to be developed to respond to the live requirements of current customers that are planning to expand their businesses in Bucharest. The remaining space will be available for lease to potential clients. Since its purchase of the park at the beginning of 2015, P3 has commenced construction of 47,100 m2 in two units as part of a deal to deliver a new logistics hub for Carrefour.
The new logistics facility, which will comprise 41,800 m2of warehouse space and mezzanine offices of 1,000 m2, is scheduled to be completed in summer2016. It has been designed to meet P3’s highest build and environmental standards. It features a height of 11.5 m, higher than the majority of industrial stock in Bucharest, which allows customers to benefit from extra storage space.
Laurențiu Duică, P3’s Head of Leasing for Romania, said: “There is strong demand for space from our current clients at P3 Bucharest who are planning to expand. P3 is ready to respond to their needs and we are happy that we can expand P3 Bucharest even further.”
Blake Horsley, P3´s newly appointed Country Head for Romania, said: “The Bucharest market currently has very few large spaces available and there is even less availability in the city’s prime logistics area surrounding P3 Bucharest. As such, we are looking forward to bringing our latest new building to the market in summer and working with both our existing and new customers to provide them with quality logistics space to help them grow their business.”
Once the three new buildings are finished, P3’sportfolio in Romania, which already includes eight warehouses at P3 Bucharest park, will increase to circa 305,000 m2GLA. Strategically located 13 km west of Bucharest’s city centre, P3 Bucharest has the potential to provide a further51,980 m2of new space, in units ranging from 4,000 m2 to 40,000 m2, in addition to the current developments.
P3 currently has a total of 209,000m2 under construction in logistics locations across Europe and many more are in the pipeline for development during 2016.In the last 12 months, P3 has experienced significant growth across Europe and created a portfolio of more than 3 million m2of lettable space in 9 countries. During the year, the company almost tripled both its number of warehouse properties (from 59 in 2014 to 145) and the number of customers (up to 300). The company grew from 48 to over 110 employees over the same period.
P3’s buildings meet and exceed European requirements regarding environmental impact and deliver operational savings through sustainable technology solutions such as LED lighting, energy efficient composite panel cladding, water supply management and a comprehensive building management system. (source: P3)
