Europa Capital has completed the acquisition of a 32,000 sq m warehouse facility with 150,000 sq m of adjacent development land in Prague, Czech Republic.
The property, which is located in the prime logistics location of Rudna on the D5 corridor to the West of Prague, is a 32,000 sq m warehouse facility, with ambient, chilled and frozen space, constructed in 1997. Shortly after acquisition, Europa will commence a comprehensive refurbishment of the existing premises in order to provide a first class, modern warehouse facility which will then be marketed for lease. There is potential for an additional 55,000 sq m of new warehouse space (the majority of which already benefits from planning) on the development land.
The Charnwood Company, with whom Europa has concluded other successful investments in this sector in the Czech Republic, will assist with the delivery of the refurbishment, leasing and further planning permits.
James Farmer, Senior Associate at Europa Capital, commented: “The European logistics sector is attractive to us and this represents an interesting opportunity for Europa to acquire a substantial warehouse property with development land in a prime distribution location. We are acquiring at a significant discount to replacement cost and this investment offers an attractive blend of immediate value add potential and some longer term angles”.
For further information, please contact:
Gordon Simpson/Claire Scicluna, Finsbury PR: + 44 20 7251 3801Robert Martin, Europa Capital Partners +44 02 7881 6800James Farmer, Europa Capital Partners +44 20 7881 6800
About Europa Capital:
Since 1995, Europa Capital’s Principals have collectively raised 7 real estate funds and committed to over 75 transactions totalling some €7.0 billion across 18 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Further information can be found at www.europacapital.com
Europa Capital is a member of The Rockefeller Group (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.