Helios is to launch an aggressive distribution development programme in the Balkans and the neighbouring countries of the former Soviet Union.
The company has set up a 50/50 joint venture with logistics operator Delamode to develop ‘big sheds’ in Romania, Moldova, Bulgaria and Ukraine.
The joint venture, which will be called Helios Eastern Europe, will be run by former Chesterton industrial head Giles Scott.
Last month, Helios bought Romanian business park Mercury Park, near Bucharest, which has capacity for more than 1m sq ft. The first 120,000 sq ft unit has been prelet to Delamode.
It is understood that build costs in the countries the joint venture is targeting . all of which have yet to join the European Union, are much lower than in Central European countries such as Poland, which have already been targeted by Parkridge CE, ProLogis and Panattoni.
References: EGi News 02/12/05
