The numbers are consistent with the company’s development trend since 2009.
In 2016, P3 has delivered nearly 320,000 sqm within 15 warehouses and has 124,000 sqm under construction in five parks from four countries.
2016 saw a series of major projects and agreements, including the development of a logistics centre on 81,000 sqm P3 Bucharest park for one of the most important European retailers, Carrefour.
P3’s portfolio has reached in 2016 3.5 million sqm in 165 buildings (173 including the buildings under construction).
The total area rented in 2016 totalled 1.26 miilion sqm, with 213,000 sqm BTS, registered constant growth compared to previous year.
Lease renewals also increased from 398,000 sqm to 716,000 sqm and the vacancy rate across the portfolio dropped from 7.6% to 4.9%.
Commenting on the 2016 performance, Ian Worboys, CEO of P3 said: “2016 was an amazing, exciting and eventful year with the refinancing of €1.4 billion of debt and the change of ownership. As the numbers clearly demonstrate, we achieved a huge amount of progress in 12 months. But, to quote Bachman-Turner Overdrive, ‘You ain’t seen nothin’ yet’. With the backing of our new shareholder, 2017 promises to be even more exciting, as we pursue our growth plans by bringing forward the development of our existing land bank as well as acquiring new sites in the nine European countries in which it is already represented as well as entering new markets. Watch this space.” (source: P3)
