Pan-European logistics specialist CTP has acquired additional warehouse capacity in Ostrava, Czech Republic for an undisclosed sum.
The deal with Bluehouse Capital concerns a 330,000 m2 plot of land, formerly used by chemical plants, in the city district of Ostrava - Hrušov.
The latest acquisition will enable the expansion of the CTPark Ostrava Hrušov with an additional 76,000 m2 of industrial-logistics space.
This is in addition to the existing first phase of 18,000 m2, which is already leased to Prosperplast, Hyundai Steel and the logistics company LogFlex.
Construction work is due to start in H1 2023 and the project will include the surrounding industrial park facilities typical for all developer projects, such as the necessary infrastructure, abundant greenery and electric vehicle chargers.
Michal Felcman, head of M&A at CTP, said: ‘Our long-term aim is to acquire land and projects in order to offer our clients the widest network of quality facilities to further their business development in Europe. Owing to its strategic geographic location, the Czech Republic continues to demonstrate strong growth potential in the industrial and logistics real estate sector in the long term, which is why I am delighted that we have added a new project in Hrušov to our portfolio. The site is in a great location near the centre of Ostrava and the motorway, neatly complementing our other successful projects in the region.’
Vojtech Perka, business developer at CTP, added: ‘We perceive Ostrava as a place with enormous potential, which is developing very quickly thanks to the openness of local governments and institutions. The new project in Hrušov fits perfectly into our strategy of creating high-quality and accessible infrastructure for companies in logistics, e-commerce, light manufacturing and R&D. The Hrušov site benefits not only from its excellent location, but also the state of readiness of the land and completed building permits. We can now begin construction work immediately and offer our existing clients and new tenants the highest class-A premises with a number of features to increase the sustainability of operations as soon as possible.’
Victor Pisante, director of Bluehouse Capital, commented: ‘The successful transformation of the development site and completion of Phase 1 was one of our key project milestones. It also provided an optimal point to hand over the project to a long-term owner-developer such as CTP.’
The new warehouse will be the largest in CTP’s portfolio that spreads across 57 locations in the Czech Republic.
