The logistics market in the Ukraine is characterised by strong demand in regard to modern standards, Property-Magazine.EU reports.

As a result, current rents are on a considerably higher level than in the rest of Europe and amount to EUR 7 per sq m per month. Yields of 10.5% p.a. are currently among the highest in Europe. Encouraged by the admission negotiations to the WTO and the rapprochement to the EU, we expect this strong growth to continue during the coming years.

This is a good reason for the Akron Group to further increase activities in this growth market. Currently, the company is developing three logistics projects in Kiev and Odessa. The logistics centre Westgate, with its extraordinary location just at the Western access road to Kiev, will be erected in the scope of a forward purchase deal with the Austrian development group GLD. With a total surface of 80,000 sq m in newly developed storage and office spaces, the logistics centre Westgate will be one of the most modern parks in the country.

After acquiring the object, the Akron Group will add this investment to its AICEEII portfolio. The completion of the logistics centre and its full letting is already expected for the fourth quarter of 2008, emphasises Stefan Ausch, partner of the Akron Group.

A second project is being developed east of Kiev. The Baltic Logistics Park, with a total surface space of about 50,000 sq m (3,500 sq m thereof are office space) will be extended to a modern A-class location and will be let to renowned companies. Akron will take care of the development management and the letting of this project.

In Odessa, the Western standard A-class object Odessa Logistic Park is being developed in a joint venture with the GLD Invest Group. The object has an easily accessible location, just 10 km from the city centre of Odessa and directly adjacent to the motorway to Kiev. Phase I of the logistics park offers a total surface of 54,900 sq m, divided into 46,900 sq m storage space, 4,000 sq m office space and 4,000 sq m mezzanine storage space. Bank Austria and UniCredit Bank Ukraine jointly finance the first phase of the project.

The logistics park as a whole will be built in three phases until 2010 und will have some 170,000 sq m in storage and office space as well as parking units for 230 trucks and 400 cars.

"Our role as pioneers in the Ukraine has paid off. We have established ourselves in this growth market as the Austrian quality pioneers and will use this advantage for the realisation of further projects in the Ukraine during the upcoming months and years", says J. Christian Thalhammer, CEO of the Akron Group.