CBRE advises on substantial land sale near Pilsen for the development of a large logistics park

The end of 2020 saw the completion of an exceptional investment transaction that will enable the future development of one of the largest logistics parks in the Czech Republic on the extensive land surrounding the D5 motorway near Pilsen. CBRE prepared and managed the disposal process on behalf of the Icelandic asset manager Kaupthing. In addition to advising on the sale, CBRE also assisted with the land due diligence, feasibility studies and provided technical advisory.

“This land is one of the last consolidated areas in the Czech Republic designated for the development of prime logistics park in popular logistic hub. We registered strong interest from investors. Congratulations to the new owner on acquiring these lands,” commented Katarína Brydone, Head of Investment Properties in CBRE.

“We greatly appreciate the support and advice provided by CBRE on this transaction. The team has worked hard during a difficult year and provided assistance across a number of workstreams. The final result represents a very successful sale at an excellent price,” added Rupert Horrocks, Managing Director at Kaupthing.

The land, with a total area of more than 1,371,000 sqm, is strategically located by the highway exit no. 93 (Nýřany) and is very easily accessible. It offers the opportunity to construct premium industrial and logistics space on more than 474,000 sqm and it is unique within the Czech Republic in terms of its size. The Pilsen district is one of the three most popular localities in the entire Czech Republic, especially due to its proximity to the border with Germany and to the capital city of Prague. Since 2017, more than 350,000 sqm of space has been leased in this region for industry and logistics, according to CBRE.