News Article brownfield Crowdberry Czech Republic industrial investment
by Property Forum | Investment

Industrial halls, which are being built on the site of former poultry farms in Liberec, have a new owner. The investment fund CB Property Investors from the Crowdberry group has become the new owner for more than CZK 1 billion (€42 million), reports.

The investment fund CB Property Investors from the Crowdberry group has bought a majority stake in an industrial complex under construction in the Doubí district of Liberec, north of Prague. The transaction price exceeded CZK 1 billion (€42 million). The facility will house the US-based UCT Fluid Delivery Solutions, a leading manufacturer of plastic modules for the production of chips, microchips and SIM cards. "The acquisition of the site, valued at approximately CZK 1.5 billion (€63.3 million) upon completion, is a major step forward for our fund. At the same time, it helps stable companies to grow and create jobs in the technology industry, which was an important criterion for our selection," said Jan Rovný, chief investment officer at CB Property Investors.

The industrial complex being built on a brownfield site, on the site of former poultry farms, will consist of a total of three halls. The last hall is due to be completed this summer. A total of 1,000 people to work in the complex. The industrial park is located near the key I/35 road crossing Liberec. Nearby is the Denso factory producing air conditioners for cars. UCT will move production from the current two sites to the new complex, with around 600 employees at the same time, and plans to recruit new employees. "For UCT, the new manufacturing facility will be the backdrop for our planned growth, the basis for further increasing the number of employees in what is and will likely continue to be one of the most dynamic industries of the future," commented Martin Pavlata, CEO of the Czech part of the US UCT. 

Proinco from the Industrial & Capital Holding group has been the developer of the project so far. After a change of majority owner, UniCredit Bank provided a loan to finance the project.