News Article CTP Czech Republic development industrial lease logistics Prague
by Property Forum | Industrial

CTP has completed two industrial lettings with 12,000 sqm of space at CTP Park Cerhovice. Two speculatively developed sustainable warehouse spaces have been leased to French global automotive supplier Valeo Vymeniky Tepla s.r.o and leading European logistics operator Raben Logistics Czech s.r.o. CTP plans to develop a further 58,000 sqm in this industrial park by the end of 2024, the company announced.

CTP has leased two modern speculatively developed sustainable warehouse spaces to French global automotive supplier Valeo, and to Austrian logistics and transport provider Raben at CTPark Cerhovice to the southwest of the Czech capital Prague. This industrial park is about 50 minutes from Prague between Prague and Plzeň on the E50/D5 motorway.

Valeo has taken an approximately 7,000 sqm unit on a 10-year lease, while Raben has signed for a circa 5,000 sqm unit, also on a 10-year lease. CTP will develop another 58,000 sqm of industrial space at CTP Cerhovice between now and the end of 2024. Two units totalling 19,000 sqm each is being built this year, with another 20,000 sqm unit planned for 2024.  "These two new units will provide Raben and Valeo with state-of-the-art facilities that will support the further growth of their businesses. CTP has built a close relationship with Raben and Valeo over the past decade and has consistently delivered for them on a regional and transnational market basis. These lettings also demonstrate that despite a more uncertain economic landscape, there is still strong demand for high quality well-located industrial space. This is why we are pushing ahead with our plans to build another three units totalling 58,000 sqm at the CTPark Cerhovice,” said Jakub Kodr, Head of Business Development at CTP.

Both tenants have formed long-term partnerships with CTP since 2012. Raben previously leased over 130,000 sqm at multiple CTParks across five markets including the Czech Republic, Poland, Slovakia, Hungary, Romania, and Austria. French-listed Valeo has leased over 33,000 sqm with CTP across its parks in the Czech Republic, and the proximity of the warehouse to Valeo’s production factory of battery coolers for electric vehicles in Zebrak will enable faster logistic transportation between the production lines.

Tomáš Hejný, Warehouse Manager, Valeo: “The high-tech nature of our business means we need to work with real estate companies that are flexible, technologically savvy, and able to go the extra mile to provide what we need and in CTP we have a partner that has delivered excellent space for us time and again. The fact CTP holds its properties for the long term also means it remains our partner as a landlord on an ongoing basis, ensuring it consistently understands how our business is growing and developing.” 

CTPark Cerhovice is a part of CTP's Czech portfolio, which comprises over 3.5 million sqm of gross lettable area with CTP positioned as the market leader in the country.