Building A-Class properties near regional commercial hubs
CTPs first investment in Serbia was CTPark Belgrade West, located on the outskirts of the capital Belgrade. CTPark Belgrade West recently obtained a building permit for our first 14,000 m² building. With half already pre-leased, there remains high demand for the rest of the warehouse space. CTP started construction in the first quarter of 2019 and expects the hand over to tenants in Q3 2019.
The development of the first phase of 25.600 m² in CTPark Belgrade North is also in progress. Eventually the park will offer nearly 65,000 m² in the 15.3 ha park. The permitting process is in progress with the goal to obtain permits mid 2019 so we can start offering the park to the market as soon as possible. Currently, we plan to start construction of phase I in Q3 2019, with possible hand-over to clients in Q4 2019. Next year CTP plans to develop phase II , which will include an additional 39.000 m² of premium industrial space.
The target for CTP Serbia is to reach more than 70,000 m² of GLA at the end of 2019 and to secure more land for new development in 2020 and beyond.
Recently, the vacancy rate around Budapest decreased to a historic low of 2.4%. Out of this, pure logistics space vacancy declined to 1.4%! Meanwhile, rents have increased by 13.3 % in 2018 (due to construction cost increases and low vacancy) and this effectively means that no new warehouse is available around Budapest below 4.6 €, with continued upward pressure on rents.
CTP does not like to rest on its laurels, and has expanded its landbank to accommodate future projects by acquiring various sites totalling nearly 35 ha around Budapest near or on the most strategic city access arteries. We have now over 66,000 m² of new space under development around Budapest at two of our parks: CTPark Budapest West and CTPark Budapest South.
CTP will begin new construction around the capital in 2019 of appx. 60,000m2. Total planned construction in Hungary to be delivered or started in 2019 is planned at 160,000 m². Due to limited new supply and increasing demand, the CTPark Network is on the path to becoming the regional leader located in the right hotspots for businesses across CEE.
One of the best spots in Prague with A-class warehouses, offices and R&D production facilities, CTPark Prague East is a premium locality, strategically 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). It provides excellent connectivity to Prague’s centre, the international airport, and as it is on the major north-south European corridor.
The unique 11,700 m² building at this location is about to become a hot spot for clients. The building’s potential is enhanced due to the high visibility from the tens of thousands of drivers and with its unique glass façade is an ideal spot for retail/warehouse businesses, with units starting from as small as 1,200 m2. The building includes CTP’s top-quality standards such as high thermal capacity 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 m² building in the park will satisfy the demand for modern hi-tech warehouse, light manufacturing or a R&D centre in the near future, while there is still a chance to rent cca 3,500 m² of shell & core space currently available for fit out. Some of our clients are already moving in: CTS recently rented 4,500 m², another client, Backbone, took 1,200 m² of warehouse space and 800 m² of office space.
CTP is finishing a modern e-commerce hub on the crossroads of the D1/R1 motorways in CTPark Trnava near the Slovak capital Bratislava. With 70,000 m2 of floor space and strategic location it offers clients newly-built, high-quality industrial space in the growing region. In Slovakia, CTP is on its way to grow from the current 320,000 m2 of GLA to 500,000 m² in 2020.
CTP Romania is leader on the Romanian market with its 1 million m² of A-class built-up spaces spread around the best locations in Romania in terms of local and foreign investments and good infrastructure.
The western part remains in focus. CTPark Bucharest West which is already 400.000 m2 large is in full speed under construction. We are building other 130,000 m² of A-class, built-to-suit facilities ready to accommodate storage, fast distribution through cross-docking system and production businesses in what is planned to become the largest park in central Europe. The park is ideally located close to city centre (2nd exit from the city) with direct access to the A1 highway – part of the Pan-European corridor through which 80% of goods enter the city. We currently have 5500m² of space available at Bucharest West
CTPark Bucharest is even closer to the city centre – just 13 km with direct access to the ring road and A1 highway. We have 60.000 m² spaces for warehouse/distribution operations, light or heavy industrial use, & manufacturing of all types with onsite best quality services.