The prolific change of 2020 has shaped the real estate industry more than anything else in decades. The digitization had been underway before the pandemic, but the speed of that shift has accelerated in ways that nobody could have predicted.
Developer and owner of logistics and semi-industrial real estate VGP has begun construction of a new technology park near the South Bohemian metropolis. VGP Park České Budějovice will be established directly on the outskirts of the city in the Světlík commercial zone with excellent transport connections to the center and a direct access to the D3 motorway connecting Prague and Linz, Austria.
108 The Agency published the first edition of the original project. A report that provides a clear summary of the most interesting data and information from the industrial real estate market in terms of the share of individual development companies and owners. The updated report will be published regularly twice a year.
While the current pandemic situation has accelerated the development of e-commerce, retail parks in the CEE region have shown resilience to the constraints of traditional brick-and-mortar retail. Last year, they were among the more profitable types of real estate. In addition, interest in investing in them is growing. Retail parks have higher operational flexibility, in essence it is an open, partly outdoor shopping concept, the advantage is their location with good accessibility for shoppers with a spacious parking lot. The design and area of the stores in them adaptability to the requirements of retailers using the omnichanne model of sales.
The fund from the domestic real estate company Arete sold a package of warehouses and production halls across the Czech Republic and Slovakia. The transaction also included, for example, the European logistics headquarters of the C&A clothing chain in Nové Mesto nad Váhom. The price exceeded 113 million euros, which is almost three billion Czech crowns according to the current exchange rate. The buyer is the Cromwell European Real Estate fund from the Australian Cromwell Property Group.
Petr Narwa, Head of Transaction & Consulting Services at Prochazka & Partners, who has long been involved in commercial real estate and investment services, answered the interview. What does Petr say about the current situation in the market, where tenants are currently trying to save as much as possible and where the pandemic has disrupted the income of real estate investors?
Originally a Czech company, CTP, one of the top five real estate developers in Europe, is expanding its network of CTParks to the Netherlands. The company, which Remon Vos founded in Humpolec in 1998, has now appointed new management in the Netherlands and recently committed to invest 300 million euros (less than 8 billion Czech crowns) in the country after the recent announcement of its intention to list Euronext Amsterdam with its shares.
Most industrial developers have received building permits for large industrial halls or warehouses in Ostrava and its surroundings. Almost three-quarters of a million m2 of industrial real estate will now appear here. This is a consequence of the fact that the Moravian-Silesian Region and the City of Ostrava, within the framework of reclamation, support the establishment of logistics and storage zones also on the territory of former industrial areas, in which production no longer takes place today.
