Arcona Capital, acting on behalf of the Jersey-based Belgravia European Fund, has completed the sale of the Fund’s residual industrial development site located in Chomutov, northern Bohemia, to VGP Group. The site, with planning permission for industrial use, is located next to the D7 motorway close to the town of Chomutov.
The northern Bohemia region is currently experiencing a boom of new investors. The site’s location enjoys excellent road network connections, readily available skilled labour supply and a short transport distance to the main industrial automotive clusters in both the Czech Republic and Germany. The site comprises 92,667 sqm of land and allows for the building of 48,000 sqm of logistics/light industrial facilities.
Arcona Capital took over management of the property in 2009 and by completing land development activities such as project design and planning permission, created the opportunity for the sale of the site to the reputable industrial developer VGP.
Income-producing properties are becoming an increasingly appreciated option for Romanian or foreign private investors who have previously been mainly active in the residential sector and who are now targeting...