News Article CTP Czech Republic industrial report
by Property Forum | Report

CTP has increased its total lettable area in the Czech Republic to over 4 million sqm, reaching a 27% share of the Czech industrial real estate market.

As CTP´s 2023 financial report states, occupancy across CTParks remains high at 97%. CTP's client base lists over 600 companies across industries. With a net rental income of €247 million in 2023, CTP is optimistic for the year ahead. 400,000 sqm of new space currently developed confirms CTP appetite in the Czech Republic. CTP currently owns 7.6 million sqm of strategic land for further development in the Czech Republic.

In 2023, demand continued to change - while it remained steady in e-commerce, it grew from companies in the manufacturing and technology sectors. This trend was driven by supply chain disruption and turbulent global developments. In the wake of this, nearshoring, where firms seek to get closer to their customers and suppliers and minimise the risk of supply disruption, has been gaining momentum.

"We are seeing changes in demand; logistics and e-commerce may not be growing as they have in the past,  but they still have their place and potential for growth. The world is changing very fast and even today companies across industries must think about the availability of their resources and goods, for example,  due to the disruption of shipping lanes in the Red Sea," explained  Jakub Kodr, Managing Director and Head of Business Development at CTP, Czech Republic. 

CTP leased about 350,000 sqm of new space to new clients over the past year. Top deals include approximately 53,000 sqm in CTPark Blučina, which will soon be occupied by Inventec (Czech), a manufacturer and developer of electronics and IT solutions. Vitesco Technologies, a manufacturer of advanced drives and electrification solutions for the automotive industry, has leased 40,000 sqm in CTPark  Ostrava Hrušov. CTPark Bor welcomes a company which provides complex automated systems for omnichannel and parcel distribution in premises totalling almost 33,000 sqm in two buildings. A further  31,000 sqm found its tenants in the automotive sector (21,000 sqm) and a toy warehouse (9,500 sqm) in  CTPark Čerhovice. Pharmaceutical company ViaPharma, one of the main suppliers of pharmaceuticals to  Dr. Max pharmacies, leased space in two locations with a total area of 27,000 sqm in CTPark Brno Líšeň and CTPark Ostrava Poruba.

CTP extended several existing lease agreements of almost 54,000 sqm in CTPark Bor for an IT distributor and in CTPark Modřice, Kollmorgen, a manufacturing company with its research and development, extended its lease for 10,000 sqm.