The P3 Group, an investor and developer of industrial real estate, opened halls in three industrial parks in the Czech Republic last year with a total area of almost 59,000 sqm. It is expected to complete another 70,000 sqm this year. The company, which is managed from Prague and has about a fifth of its portfolio in the Czech Republic, the company announced.
The operating portfolio of P3 Group, which has its financial headquarters in Luxembourg, totals 7.6 million square meters of space. In the Czech Republic, the company owns and manages 87 industrial properties in 16 parks with a leasable area of nearly 1.4 million sqm.
Last year, P3 built one customized hall near the D6 motorway (Stochov) in the Czech Republic for Euromedia Group, which operates the Luxor bookstore chain. The second was completed near D11 (Mstětice) for QSL, a food logistics company. Two halls were built in the first stage of construction on the Vítkovice brownfield site.
“Every month, P3 concluded an average of six lease agreements in the Czech Republic and leased a total of 300,000 sqm. Three quarters of this is attributed to so-called extensions and expansions,” said P3’s director for the Czech Republic and Slovakia, Peter Jánoši.
This year, the company is to commission 70,000 sqm of halls in the Czech Republic, in parks in Lovosice, Ostrava-Vítkovice and Plzeň Myslinka.
P3 Group operates in 11 European countries and last year had the highest occupancy rate to date – 98 percent. In 2022, it has recorded an 11 percent increase in gross portfolio value to €8.3 billion, equivalent to about CZK 195 billion. The group’s net rental income increased by 49.7 million euros (CZK 1.2 billion) to 356.8 million euros (CZK 8.4 billion) in 2022.
Source: P3 and CTK
Photo: P3 Ostrava
