1) What projects does GARBE currently work on in Slovakia?
You already know the first project Garbe Green Park Piešťany very well. These are two halls (8,000 and 16,000 m2), where a smaller one is currently under construction and is expected to be completed by the end of the second quarter of this year. We currently have a signed client on 3K m2 and we are speculatively building the remaining space (5K m2). We have a building permit for the second larger hall and we will start construction as soon as we manage to rent a smaller hall, or if we sign a client who will be interested in more than 5K m2.
Info video: https://www.youtube.com/watch?v=yuLyVqB0qkk
The second Anthracite Prešov project will have a Building Permit at the turn of Q2 / Q3 2022. The biggest advantage of this project is its variability as we offer two alternatives for what the project may look like. The first variant is three smaller buildings + SBU and the second variant would consist of one large hall.
Info video: https://www.youtube.com/watch?v=vRN2w7xbRVY&t=7s
2) How would you assess the development of the logistics and industrial space market in 2021, especially against the background of the Covid-19 pandemic?
The pandemic has somewhat indicated how important logistics and infrastructure are to our daily lives. The market recorded record-high occupancy as well as growth in rents and the value of the industrial real estate. I do not like to talk about it, but it is probably possible to agree that the pandemic has helped our real estate sector.
3) What do you think are the most important changes during this time (market in general, customer mentality, competition, etc.)? How your company has adapted to them
I think the mentality of customers does not change much, they are more reactive due to the fact that time is very fast and their business environment is changing rapidly. The competition is riding a wave of ESG and sustainability, and only time will tell if they meant it. In any case, everyone does what they can, except for the state and local governments, which are unable to support the creation of quality jobs, but on the contrary, often do not fulfill their basic functions.
4) What GARBE Industrial's real estate portfolio currently looks like (m2, number of logistics parks, cities in which it is located, leased area, rental area, etc.)
We currently have one existing and leased head in Senec with a size of 36,000 m2 and a park under construction in Piešťany with a total size of 26,000 m2. From June 2022, there will be another 5,000 m2 available. Otherwise, we focus on western Slovakia and the surroundings of Bratislava.
5) What are GARBE Industrial's logistics and industrial development plans? Is it more about BTS or speculative development?
And also. The BTS model is also interesting as speculative construction. We always make emotional decisions according to the current market situation and we do not set ourselves. We also want to work in locations where they want us and where we enjoy it. Indeed, our only obstacle is the state, the permitting processes and the overall business environment, realizing our intention from the acquisition of the land to the lease of the last free square meter is really a trifle.
