by Property Forum | Industrial

CTP is starting 2019 with the announcement of ambitious development plans in three of its markets, the Czech Republic, Serbia and Hungary.


Big plans with CTPark Prague East in 2019
 
CTPark Prague East is now under the process of significant revitalization with a goal to become the best place for premium logistics hubs, high-tech industry, R&D and retail companies in the wider Prague area. Located at the junction of the major North-South D1 (E55) highway and the Prague ring road with close proximity to the Čestlice retail zone (Makro, Auto Opat, KiKa, RenoCar, Albert).
 
The 11,700 sqm NU3 offers great insulation, full LED lighting of the interiors and full air-conditioning in office areas. The site is also linked by public transportation to the city of Prague and includes a restaurant and a gas station on-site.
 
Another 15,000 sqm building in the park will satisfy the demand for modern hi-tech warehouse, light manufacturing or R&D centre in the near future, while there is still a chance to rent cca. 3,500 sqm of shell & core space in the NU2 building. Some of our clients are already moving in: CTS recently rented 4,500 sqm, another client, Backbone, has 1,200 sqm of warehouse space and 800 sqm of office space.
 
CTP Serbia to reach more than 70,000 sqm GLA in 2019
 
CTPark Belgrade West recently obtained a building permit for 14,110 sqm. Half of the GLA is already rented and there is demand for the rest of the warehouse space as well. CTP expects the start of construction in Q1 2019 and handover to tenants in Q3 2019.
 
The development of the first phase of 25,660 sqm in CTPark Belgrade North is in progress. Eventually, the park will offer 64,720 sqm in the 15.3 ha park. The permitting process is in progress with a goal to obtain permits in mid-2019 so CTP can start offering the industrial spaces to the market as soon as possible. Currently, CTP plans to start construction of phase one in Q3 2019, with a possible handover to clients in Q4 2019. Next year phase two expects the development of another 39,060 sqm.
 
In CTPark Novi Sad, CTP expects building permits in February 2019, bringing the total leasable area to 24,340 sqm. Due to the park’s strategic location, CTP already has several clients under negotiation and the production facility and warehouse construction is set to start Q2 2019, with hand over to tenants in Q4 2019.
 
Among the several acquisitions in progress, CTP is in the midst of serious negotiations in central Serbia, where the company intends to purchase 5 ha of land. The acquisition deal is in its finalization phase together with the permitting process and client negotiation. The total surface of the new Serbian park is expected to be 21,500 sqm.
 
The target for CTP Serbia is to reach more than 70,000 sqm of GLA at the end of 2019 and to secure more land for new development for 2020.
 
Multiple developments under construction in Hungarian markets
 
In CTPark Budapest West, CTP is building the next phase of the park: a 32,000 sqm speculative building with approximately 19,000 sqm already booked by the new tenants. In CTPark Budapest South, CTP is moving forward with the speculative construction for its first building in this location, a 22,000 sqm building.
 
Due to tenant relocations in CTPark Budapest East CTP has approximately 23,500 sqm which became vacant at year-end but the company already has new deals agreed for 14,000 sqm and is expecting to sign the remaining vacant space shortly. In Q1 201, CTP plans to start developments of new space in CTPark Budapest East, in the first phase 20,000 sqm with a total of 80,000 sqm still buildable in the future.
 
Additionally, Dana Hungary (major Audi supplier) has requested a 9,000 sqm extension to their 15,000 sqm facility which the developer recently built in CTPark Arrabona in Győr.