Accolade Industrial Fund reaches a significant milestone, now owning 1.5m² of premium industrial property. Its portfolio is bolstered by 4 exceptional parks worth more than 271 million EUR
Accolade Industrial Fund has added 4 premium industrial and logistics parks, worth over 271 million EUR, to its portfolio. Thanks to these acquisitions, the fund now owns property with a leasable area of more than 1.5 m², returning in excess of 80 million EUR annually in rents. This development puts them among the largest real estate funds in Central Europe. In the first two quarters of 2022, the fund appreciated by 5.45%, which is consistent with an expected annual growth of 7%.
“The 1.5 million m² of leasable space that we own, along with our investors, is a pleasing figure. We believe that we will continue to significantly grow the fund in the future through further acquisitions. This will continue to strengthen the stable income from rents – positive news for investors,” remarked Milan Kratina, Chairman of the Board of Accolade Industrial Fund and Accolade CEO.
Specifically, three new parks in Poland and one in the Czech Republic are now part of the Accolade fund. In terms of the Polish properties, the fund purchased the final phase of the Szczecin Załom park, the final part of the Gorzow Wielkopolski park, and Szczecin Kniewska. The Szczecin Załom park is located on a former brownfield site and covers 230,000 m². It is in the proximity of the Szczecin – Świnoujście port, the largest on the Baltic coast and considered to be the most important port for the Czech Republic and Slovakia. The park’s tenants generally consist of logistics and distribution companies. One of the most notable is Autodoc, an online retailer of car replacement parts.
The Gorzów Wielkopolski site, which is situated to the west of the country, is ideal for international businesses looking to move their activities to Central Europe, due to its proximity to the German border. Another advantage is the excellent transport links with the Czech Republic, such as the S3 expressway from Szczecin to Prague. The modern Gorzów Wielkopolski park, with more than 70,000 m², is an attractive proposition for tenants as they are able to take advantage of the advanced local infrastructure and the influx of highly qualified workers.
The Szczecin park on Kniewska street consists of two fully occupied buildings of more than 30,000 m². Its tenants include, for example, logistics company Svendsen, as well as Procent and DS produkte, who supplies advertising, food, and retail goods to discount stores in Europe.
The Czech addition to the fund comes in the form of the recently completed distribution centre in Kojetín, near the town of Přerov, for e-commerce giant Amazon. It is the first multi-level distribution centre in the Czech Republic, which, thanks to its modern equipment, environmentally friendly operation, and high energy self-sufficiency, has become one of the most modern logistics properties in the country.
“The demand for industrial property is stable. It still comes mainly from the manufacturing industry and logistics, retail, and e-commerce sectors,” responded Milan Kratina to the question of the shortage of manufacturing and warehouse spaces leading to a rise in rents. “As regards our fund, from the beginning of next year we expect a further increase in rents. This is facilitated by inflation clauses, which we believe to be an effective investment protection. Such clauses guard against at least 80% of the impact of inflation,” explained Milan Kratina. More than 2,800 investors have already placed their trust in the fund, with more to come. This is due not only to the attractive investment appreciation, but also a certain form of anti-inflation safeguard.
The Accolade fund puts a large emphasis on the environment and sustainability. Its portfolio is one of the greenest in Europe, which will not change as it continues to grow. The key is also the diversification and reliability of tenants, which ensure stable returns over the long term. Annual rent from the properties has now surpassed 80 million EUR. Last year, Accolade Industrial Fund achieved a record appreciation of 20%. It is important to mention that a revaluation of the portfolio, driven by a reduction in market yields, had a major impact on this figure. In the first half of this year, the fund appreciated by 5.45%, which corresponds to an expected annual appreciation of 7%.