SEGRO’s portfolio in the Czech Republic is growing – EuropaProperty

SEGRO has completed the acquisition of an 11,800 sqm warehouse facility from Damco Czech Republic, part of the Maersk Group, for €8.4 million. The property is located adjacent to SEGRO Logistics Park Prague.

The transaction is another acquisition completed over the last year, which enlarges the area of SEGRO Logistics Park Prague. In the second half of 2014, SEGRO acting on behalf of SEGRO European Logistics Partnership, acquired two warehouse facilities comprising 21,800 sqm. As a result, the portfolio managed by SEGRO in the Czech Republic amounts nearly to 120,000 sqm.

SEGRO Logistics Park Prague is located next to the R6 motorway, near the city’s ring road, which provides a convenient connection to the D5 road (Prague-Plzen) and D1 road (Prague-Ostrava). The investment is 12 km away from the city centre and close to Prague’s international airport. Currently all warehouses within the complex are fully leased, the park’s development potential allows for construction of further 150,000 sq m of modern warehouse space.

“In line with SEGRO’s strategy, we continue to grow our portfolio on main Central European markets both, by own developments, as well as through the purchase of standing investments. This transaction proves our ability to consolidate the ownership of logistics assets on fragmented markets,” Bożena Krawczyk, SEGRO’s Investment Director Central Europe commented.

The building is fully leased by Danish pharmaceutical company Orifarm Group, which is one of the largest suppliers of parallel imported and generic pharmaceuticals in Europe.