Erste Group Immorent to develop new IMMOPARK logistics centers in central Europe (CZ/SK)

Erste Group Immorent was granted the construction permit for a new distribution center, IMMOPARK Praha, to be developed in the Czech Republic. The group thus continues to expand its European network of production, logistics and storage IMMOPARKs, after having developed IMMOPARK Zagreb as one of the largest logistics centers in Croatia and IMMOPARK Košice, in Slovakia’s second largest city.

The latter is currently being expanded by a second hall, which will offer a further 17,500 m² intended for storage and logistics. “By developing IMMOPARK Praha and building another hall at IMMOPARK Košice we are responding to an ever increasing demand for high-quality storage and production properties in our core central European markets,” says Richard Wilkinson, CEO of Erste Group Immorent.

The IMMOPARK Praha project is a modern distribution center in the western part of Prague, adjacent to the R6 speedway (Prague - Karlovy Vary - Germany). The center will be built in several stages on a land plot of 341,000 m² and will consist of seven halls of 131,000 m², suitable for logistics, distribution, storage as well as light production. The halls have been designed to provide tenants with maximum efficiency and can be tailored to accommodate specific needs. IMMOPARK Košice offers more than 250,000 m² of logistics, industrial and office space. At present, it accommodates logistics and production companies such as Dachser, Faurencia and Raben. One of the world’s leading automotive suppliers, Valeo, has recently signed the agreement to expand its Slovak branch at IMMOPARK Košice.

Net take-up of industrial property in the Czech Republic amounted to nearly 585,000 m², 26% higher than in 2011 (464,000 m²); the greater Prague area remains the most sought after region. According to Erste Group Immorent analysts, 2013 net take up will at least reach 2012 level or slightly increase. As of year-end 2012, the total industrial stock in Slovakia amounted to approximately 1.16 million m², most of which was located in the Bratislava area, followed by Trnava region, Trenčín and Košice. For 2013, Erste Group Immorent analysts expect 190,000 m² of new industrial space to be built in the Czech Republic, and 65,000 m² in Slovakia.

Source: Erste Group Immorent

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