The Polish developer 7R is entering the Czech market, it will build a hall at D1 for 750 million crowns
Polish developer 7R is entering the Czech industrial real estate market. A storage hall will be built near the D1 highway in Vysočina for 750 million crowns. In a press release, the company said it had received a building permit. After the planned completion in the third quarter of next year, the building should have an area of 26,000 square meters. The company plans to further expand its activities in the Czech Republic in the future.
“The Czech market offers 7R new opportunities for growth and is characterized by limited supply and strong demand from investors and tenants. I am convinced that it will meet the interest of potential tenants in the local market. At the same time, we are actively pursuing further acquisitions and expanding our operations in the Czech Republic,” said Chris Zeuner, 7R’s investment director responsible for the group’s development in the Czech Republic.
The 7R Park Lavičky D1 Highway facility will be located in Vysočina near Velké Meziříčí, 50 kilometers from Brno and 135 kilometers from Prague. It will be equipped with many ecological solutions, the aim of which, according to the developer, is to reduce carbon dioxide emissions and operating costs. These elements include LED lighting, a photovoltaic installation, charging stations for electric cars, and the use of purified wastewater for toilet flushing. Flower meadows, trees, and shrubs will be planted around the park. Rainwater will be used to maintain the green areas.
The 7R Group is a Polish commercial real estate developer offering warehouse and industrial space for rent, including custom-built projects for pre-agreed tenants (BTS). Its portfolio includes large-scale logistics parks, but also small business units and urban warehouses known as 7R City Flex. To date, the company has completed projects with a total area of more than 1.8 million square meters and is preparing another approximately 2.3 million square meters in Poland and the Czech Republic.
According to the analysis of the real estate consulting company Colliers, industrial and logistics areas in the Czech Republic expanded by almost a million square meters last year, which was 22 percent more than the five-year average. At the same time, however, the vacancy rate increased and demand decreased. The highest achievable rent decreased by three percent at the beginning of 2023 and remained at the level of 7.5 to 7.7 euros (about 190 to 195 crowns) per square meter for the rest of the year.
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Author of the article: ČTK
Source: Estateandbusiness.cz
