Industrial real estate developer P3 Logistic Parks wants to invest heavily in its Czech portfolio, with a focus upon acquiring land and existing parks in attractive locations. This year, it intends to expand its portfolio by tens of thousands of square metres to serve tenants in the logistics, light manufacturing, retail and e-commerce sectors.
Peter Jánoši, Managing Director P3 in Czech Republic and Slovakia, said: “P3 is a long-term investor, owner, manager and developer of logistics properties. With the financial strength of our shareholder, we continue to be active buyers and want to focus on new investment opportunities that show value-add gains for our clients. We are especially interested in acquiring sites of at least 30,000 sqm in the vicinity of Prague and Brno, and of at least 50,000 sqm in other locations.”
This intent by a European developer based in Prague is an opportunity for owners who want to access their capital which is currently tied up in real estate, by releasing it in a sale & leaseback transaction. P3 is particularly looking for sites with a designation for light production and logistics use, which are easily accessible by transport.
Ondřej Vodička, Acquisition Manager in P3, said: “We are ready to buy not only land for future development, but also existing buildings that are either empty or occupied by tenants. We are interested in buildings not only of A or A+ quality, which are close to our standard, but also sites of a lower standard that are suitable for redevelopment.”
Location is a key parameter for new acquisitions as P3 always prioritises excellent transport accessibility. In addition to good connections to arterial and Class 1 roads, the route to the park should not pass-through residential areas, in order to limit impacts upon the quality of life in the local community. More broadly, the developer is also considering the employment potential of the site.
