The purchased land is an old industrial brownfield, where the building yard was originally built. Construction of the project will begin by the end of the year with the demolition of older buildings. The construction itself is to begin in the summer of 2021. The land has a total of 65,000 square meters. A hall with an area of 32,000 square meters will be built on it. The sellers of the plots were two natural persons. The developer did not comment on the price of the transaction or the investment in the project.
“In the area of northern and northwestern Bohemia, we still see great potential for the development of modern business in Central Europe. Negotiations are already underway with the first potential tenants, “said Jakub Holec, CEO of the consulting company 108 Agency, which was involved in the transaction with Garbe. According to Polák from Garbe, companies from light industry are mainly interested in the premises. The new complex will be created within sight of the existing logistics park of the developer VGP.
The German company Garbe announced its entry into the Czech Republic and other countries east of Germany at the beginning of this year. In the Czech Republic and Slovakia, it plans to get a portfolio worth around 70 to 80 million euros in the near future.
Garbe is a German family business. Until now, he had business concentrated in Germany, France, Austria and the Netherlands. In the middle of this year, it managed 4.4 million square meters of leasable space. Their value was a total of 3.5 billion euros.
According to real estate professionals, modern warehouses and production halls have proven to be the most resilient segment of real estate in this turbulent year. According to Savills consultants, total demand in Europe will fall to 3.5 million square meters from last year’s four million this year, but in 2021 it is expected to return to its original values.
In the Czech Republic, gross demand for industrial real estate fell by 14 percent year on year in the second quarter. The companies leased almost 361 square meters of logistics centers and factories, according to data from the association of consulting agencies Industrial Research Forum. The figures for the third quarter have not yet been published by consultants.