News Article Czech Republic industrial lease Pardubice Savills
by Property Forum | Industrial

IRE-TEX Praha, which designs, manufactures, and supplies packaging solutions, is moving part of its production, warehouse and offices to new premises in the Fáblovka industrial zone in Pardubice from October 2023. Savills mediated the five-year lease of the entire 7,500 sqm hall. IRE-TEX has two more production halls in Pilsen.

Vladimír Hobza, Director of IRE-TEX Praha, says: "The newly leased premises will help us to create conditions for increasing the quality of services to our customers and create conditions for further increase in production and deliveries. At the same time, the negotiated terms provide us with sufficient flexibility to change warehouse and production space. This provides the prerequisites for further expansion of our company in the Hradec Králové and Pardubice regions."

Jana Čožíková, Associate, Industrial Agency at Savills adds: "The existing tenant in the Fáblovka industrial zone needed to leave its premises before the expiry of the lease agreement, two years early. IRE-TEX, on the other hand, demanded new premises and given the lack of available warehouse and production space in the Pardubice Region, taking over the hall was a logical solution for both parties. IRE-TEX will move in as early as October this year."

The vacancy rate in the already constructed Class A industrial space in Pardubice has long been zero, and the same was true in the first quarter of 2023. However, there are several buildings currently under construction and scheduled for completion later this year. After a long time, this offers opportunities for potential buyers to consolidate or move into modern space. Over the last five years, net demand for modern space in the region has averaged 14,600 sqm per annum and, due to the unavailability of vacant space, almost all of these have been pre-lettings of future or under-construction projects. 

Pavel Halbrštát, Director of the Fáblovka industrial zone comments: "It is currently very difficult to find vacant space in the industrial halls we lease. It is especially difficult to find units of 1,000 sqm or more. I believe that industrial construction will develop in Pardubice so that we can at least partially meet the demand of our clients."