CTP, a Dutch industrial real estate developer which listed on the Euronext Amsterdam stock exchange last week, has acquired an industrial park in Žilina, Slovakia.
Financial details were not disclosed, but CTP said the deal was part of a strategy to invest €200 mln across the country, doubling its current holdings in Slovakia by 2023.
The asset acquired comprises three existing buildings offering 25,000 m2 of space and land for further development, in a strategic location near Žilina airport. CTP will develop a new park, CTPark Žilina Airport, comprising up to 145,000 m2 of logistics and industrial space on completion.
CTP currently has a Slovak portfolio of around 460,000 m2 across 12 locations.
Stanislav Pagác, head of CTP Slovakia, said: 'CEE has been experiencing strong acceleration in the demand for logistics and industrial space - in 2020 the occupancy in our parks reached 98% while our rental income has grown by 24%.
'There is a sizeable undersupply of the logistics stock in Central and Eastern Europe with less than 50% of stock per capita than in Western Europe, which is spurred by new consumer habits such as online shopping but also new emerging manufacturing trends such as near-shoring.
'Our strategy is to expand our CTPark network to strategic locations throughout Slovakia to take advantage of the unique position of the country, which is a natural gateway between East and West, connecting Austria, Poland, Czech Republic and Hungary.'
Ivan Šimo, CTP’s Slovak construction director said: 'After the acquistion of CTPark Košice in 2019, we‘ve completed our second transaction with Immorent Slovakia with an acquisition in Žilina.
'This deal strengthens our position in Slovakia and provides more development potential in the very attractive Žilina region. Our intention is to start developing a new 24,000 m2 building in the location in just a few months to meet growing tenant demand.'
CTP currently has 88,000 m2 under development across sites in Bratislava, Trnava, Košice and Prešov. All new CTP buildings are being constructed to Breeam Excellent standards (and higher), alongside a commitment to sustainability and carbon neutrality operations.
This year, CTP will start installing photovoltaics on its facilities’ rooftops with 2 MWp capacity, and plans to do so on its entire portfolio where feasible, including CTPark Žilina Airport.
