While in the first half of 2022, the consistent interest of developers pushed up the prices of development land, the second half meant a noticeable weakening of demand from traditional buyers. However, plots of land were still being sold - only the developers were replaced by investors in renewable energy sources, which are supported by the new, more liberal legislation. The information was published by the real estate consulting company 108 Agency, which last year mediated transactions related to development plots with a volume of over 500,000 square meters.
Arete Group's third fund focused on industrial and logistics assets in the region of Central and Eastern Europe has finalized the construction of a new industrial hall within the Arete Park Rokycany I complex. The total value of the development is 7 million euros, roughly 165 million crowns. The company Raben Logistics Czech, which offers comprehensive logistics services, is moving to the premises.
The industrial real estate market in the Czech Republic grew at a rapid pace in 2022. Almost 1.1 million m2 of new space was added, which is more than 155% of the five-year average and the highest value ever recorded on the Czech market. In the middle of the year, the market crossed the threshold of 10 million m2, and at the end of the year it narrowly failed to overcome the milestone of 11 million m2 – the market reached a value of 10.8 million m2 at the end of the 4th quarter of 2022. In the last quarter, 150,300 m2 of modern industrial space was added.
The Arete Group has started the construction of a logistics hall within the Arete Park Rokycany 2 industrial park. The investment will reach a total of approximately 40 million euros. The long-term tenant of the premises, which should be completed within a year, will be the logistics company Duvenbeck.
VGP, the European owner and developer of semi-industrial and logistics real estate, has acquired a new tenant for its newly prepared technology park VGP Park Ústí nad Labem City, which will emerge from a brownfield site near the city centre on the location of the former Avirunion glassworks bounded by Sklářská, Tovární, and Kekulova streets. Bosal Aftermarket Europe, a leader in the development and production of catalytic converters and emission control systems for passenger cars and industrial applications, has leased a total 10,210 m2 of production and warehouse space in Hall A. The new hall will be built to green certification level BREEAM Very Good standards. VGP expects to complete it by the end of this year, with handover taking place in January 2024.
It has been another successful year for P3 Logistic Parks, the owner, developer and manager of high-quality European industrial real estate. Across the Czech Republic, new halls were developed by P3 with a total rentable area of almost 59,000 m2 in three parks, an average of six leases were signed each month, leasing a total of 300,000 m2. Of this, three quarters were prolongations (renewals) and expansions by customers.
The industrial developer CTP is finishing the construction of a new building in its CTPark Prague North. The hall, with the working name D8.7B, will offer facilities with an area of 32,000 square meters after its completion in March this year. The second hall D8.7A with an area of 20,000 square meters will be completed in August. CTPark Prague North is located north of the capital, close to the D8 highway.
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