by Property Forum | Industrial

VGP has signed two lease agreements with OKAY, the Czech electronics and furniture retailer. The company has leased more than 50,000 sqm of warehouse space in VGP parks Vyškov and Prostějov. The new hall in Vyškov is already under construction and will be handed over in September this year, at which point the park will reach 100% occupancy. The building in Prostějov will be ready for use from January 2022. Both projects are being carried out under BREEAM Sustainable certification, level Very Good.

“The two parks are about 30 minutes drive from one another and are located close to the D1 and D46 motorways, thus enabling rapid connection to Prague, Brno and Olomouc, as well as to neighbouring countries. Moreover, both Prostějov and Vyškov are on an important railway line. I can therefore highlight the strategic position in the centre of Moravia of both locations. This is advantageous for OKAY not only because of the transport accessibility but also because of the qualified workforce building upon its long-standing industrial tradition,” comments Šárka Havlíčková, VGP Commercial Officer.

OKAY is a Czech company focused on selling electronics and furniture and stands among the top names in these segments within the Czech Republic as well as Slovakia. It currently operates a total of 140 brick-and-mortar stores and its own e-commerce platform. The company has been operating on the domestic market already for 27 years and has more than 1500 employees, franchisees and trained specialists working for it.  

“We see a great market opportunity for further growth, and strengthening our warehousing and logistics capacities is key to this growth. We don’t want any marginal and technically obsolete storage but the best and most modern premises and technologies so that we can accelerate warehouse processes and delivery to shops and to end clients. Thanks to the strategic locations of the warehouses in Vyškov and Prostějov, we will be able to cover the entire Czech and Slovak republics significantly faster than before,” states Jindřich Životský, owner of OKAY.

“These transactions confirm the current trend of rapidly growing companies focused on retail, and including e-commerce, needing more warehouse premises to develop their activities. VGP offered high-quality logistic halls in superb locations that will further support OKAY’s business activities,” explains Vít Zdráhal, the head of Landlord and Tenant Representation in the Industrial team of the company Cushman & Wakefield which intermediated the leases. Jiří Kristek, the head of Industrial and Retail Warehousing in the same company adds: “We are happy that such an important transaction was carried out successfully thanks to excellent co-operation with both companies.”

VGP Park Vyškov is situated in the northern part of the South Moravian Region, about 40 kilometres from Brno in the industrial location of Marchanice. It is spread across approximately 5.4 hectares and has lettable area of 28,199 sqm that presently is fully occupied.

VGP Park Prostějov is being built on a vast brownfield on the site of the former Oděvní podnik Prostějov with an area of more than 13.9 hectares. VGP is planning to develop here more than 46,000 sqm of lettable area suitable for logistics and light manufacturing. At the moment, about 30,000 sqm is still available. Among future tenants are ITAB Shop Concept CZ, twd CZ, and OKAY.