DTZ leased 5,000 m² of specialized industrial property in Prague 10 Uhøínìves on behalf of the the international fund and asset manager Valad Property Group. The property is one asset contained within the Central European Industrial Fund ('CEIF'), a joint venture between Aviva Investors and Valad Property Group. The new tenant is a leading European carrier of frozen goods SALM CZ-La Bretagne s.r.o, who agreed a lease for a three year term creating 25 new jobs.
Following a recent letting of 8,000 m² to a distributor of Author bicycles in Lodìnice near Beroun, this is another succes of DTZ on the industrial / logistics market.
David Svoboda, Head of Property Management of DTZ Czech Republic, comments: "The case in Uhøínìves illustrates the increasing length of negotiation periods seen in the current market. The negotiation period for this letting was close to 18 months, a vast difference between the periods of 3 to 6 months seen pre credit crunch. In the meantime, working with Valad Property Group we are concentrating on leasing the final unit providing approximately 3,000 m² of ambient warehouse space."