German chain of coffee retailers Tchibo has completed the first half of a new distribution centre in Panattoni Park Cheb in Prague, which will serve online customers from the CEE region and southern Germany.
Currently, the total rentable area has reached 39,000m², which will be shortly extended to 73,000m² after completion. The second phase of the project will be completed in the middle of next year. The construction started in May this year.
On completion, the premises will become the second largest logistics hall ever constructed in the Czech Republic, after Amazon’s distribution centre in Dobrovíz. Tchibo is one of the world´s biggest coffee roasters worldwide and a leader in online fashion retail in the Czech Republic. As such, the new distribution centre will create up to 350 new jobs in the Karlovy Vary region. The distribution centre shall start its operation by the end of this year.
Both phases are managed and constructed by the development company Panattoni Europe in cooperation with the Czech company Accolade, who will be the owner and long-term landlord of the building.
"Tchibo is one of the largest retail chains, so we are pleased that for its expansion that the company picked our park in Cheb. Profile of this company also fits perfectly among our existing tenants, where we now have a fairly significant representation of automotive and mechanical engineering. Tchibo thus contribute to increasing the diversity of the portfolio of tenants Accolade," said Milan Kratina, CEO of Accolade.
Our goal is to contribute to the economic growth of the region and open it up to a wider group of qualified investors, in particular from the Czech Republic, to participate on revenues of leading global companies operating on our market. Securing lease of the building for Tchibo fulfills these criteria completely."
Real estate company Colliers co-operated with Panatonni and Tchibo in this transaction, an investment of over €60m.
