Dynamic growth for P3
P3, owner and developer of logistics properties in Europe, grew steadily over the past twelve months and the number of customers rose by 20%. Due to rising online demand, the proportion of P3 in the e-commerce and retail sector increased to over 30% for the first time ever. The property specialist also boosted its portfolio by 0.5 million sqm in business year 2018s.
At the same time, P3 sold 250,000 sqm that were not part of its strategic alignment. At present, more than 1.2 million sqm are in P3’s pipeline. Plans are in place to construct build-to-suit facilities and some of the space will be used for speculative developments. The property portfolio is almost fully utilised at over 95%.
Ian Worboys, CEO, P3 Logistic Parks, observed: "Great demand, the willingness to invest and new technologies are characteristics of the logistics industry, which, in our view has long since shed its old traditions and evolved into one of the most attractive and stable investment classes." (mw)