GARBE Industrial Real Estate has acquired as part of its European expansion strategy into the CEE market, a first-class development opportunity in Chomutov, Czech Republic. The land plot compromises 65000m² is directly located on highway exit D7. Demolition of the current properties will begin by the end of this
year and construction of the new, 32000m² state of the art logistics real estate facilities are scheduled to begin in summer 2021. The purchase price was not disclosed.
The new property in Chomutov will not use any greenfield land and the development will include revitalisation of the current site with its derelict properties. This ensures that original paved areas will be incorporated into new paths, parking spaces, and roads. The area, previously a construction yard, will provide new valuable jobs in a region with one of the country’s highest unemployment rates. Tenants will benefit from a sustainable environment and the asset will generate eco-friendly energy by using photovoltaic panels for power generation.
“We are proud to complete this purchase in the midst of challenging times. We are excited to partner with companies, which share a similar set of values and we want to assist our customers with their product and their operations to be most successful. All our properties will be constructed according to the latest technologies and comply with the latest environmental standards to minimize the impact on the environment,” said Martin Polak, Managing Director Garbe CEE.