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Goodman maintains 100% occupancy in Hungary, signing a new lease agreement with Bosal Hungary Kft.

Thursday, 16 April 2015

Potential to develop 120,000 sqm of new logistics space near Budapest

Goodman, a global leader in the ownership, development and management of industrial real estate, has signed a new lease agreement with Bosal Hungary Kft. for a 7,700 sqm logistics facility at the Goodman Kecskemét Logistics Center in central Hungary. With the signing of the agreement, the real estate group maintains 100% occupancy in Hungary and is focusing on developing an additional 120,000 sqm of new logistics space near Budapest.

Bosal Hungary Kft., a leading automotive parts supplier, needed immediate additional warehousing space to accommodate its stock overflow due to increased production activity. The Kecskemet area is known as a fast growing location for the automotive industry, in part due to the new Mercedes production plant nearby.

“Bosal has seen a marked increase in demand and production, which required an immediate response to help us manage our warehousing requirements. Goodman acted quickly to provide a great solution that is perfect for our needs,” said Pál Gajda, Managing Director at Bosal Hungary Kft.

Over the course of the lease, Bosal will benefit from Goodman’s experience in managing nearly 300,000 sqm of logistics space for automotive sector customers in Continental Europe. In addition to having access to Goodman’s technical and operational property services experts, Goodman also develops tailored investment plans to ensure that the quality of the property is maintained.

“We are proud to have been able to provide an immediate solution for our customer and it reinforces the Goodman Kecskemét Logistcs Center as a prime location for customers in the automotive industry,” said Blazej Ciesielczak, Goodman Regional Director for Central and Eastern Europe. “Having fully leased all of our existing properties in Hungary, we will focus on expanding our portfolio through new developments on our land banks to meet growing customer demand.”

Prime land available for development
Goodman has two land banks ready for development approximately 20 km from the city centre of Budapest. The two sites are located next to existing properties owned by Goodman’s flagship European fund, the Goodman European Logistic Fund (GELF). The Goodman Gyál Logistics Centre has the potential to develop an additional 20,000 sqm of logistics space next to an existing 23,000 sqm facility. The property is located at the junction of the M5 highway and the M0 ring road, which provides excellent connections to the M1, M3, M6 and M7 highways.

The Goodman ÜllÅ‘ Airport Logistics Centre already comprises 46,000 sqm of leased logistics space, with the capacity to construct a further 109,000 sqm on the site. The property is only five kilometres from the Liszt Ferenc International Airport and benefits from great road connections via the M4 highway and the M0 ring road.

The strategic value of the land is underpinned by strong market trends. According to Colliers, the Hungarian market experienced an increased gross take up of 56% in 2014 compared to 2013. Looking ahead to the remainder of 2015, the brokerage firm predicts the biggest demand for logistics space to be in the region of Budapest around the M0 ring road.

For further information, please contact Goodman:
Christopher Flores
Communications Manager CE
+32 2 451 42 08