SEGRO European Logistics Partnership acquires fully let park in the Czech Republic’s Sazava, Prague region
SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership (“SELP”) joint venture, today announces that SELP is expanding its Czech portfolio with the acquisition of park in Sazava near Prague, which will be called SEGRO Logistics Park Prague, Sazava
At the same time SELP’s presence in the Czech market grows by almost 30% to over 215 000 sqm in total. The fully let warehouse park in Sazava was purchased from Czech developer UDI Group.
SEGRO Logistics Park Prague, Sazava is situated on a nearly 13-hectare site and comprises four buildings with a total area of 46,500 sq m. The roof structures are designed to accommodate potential photovoltaic installations, and electric vehicle charging stations have been installed throughout the park. This acquisition confirms SEGRO's consistent efforts in championing low-carbon growth.
Daniel Kubizňák, Head of the Czech Republic, SEGRO commented:
"We continue to seek opportunities to acquire high-quality assets that complement our existing portfolio in our core markets. This acquisition aligns with our strategy and helps us build scale in the Czech market. The growing interest from companies in the Czech Republic stems from its advantageous geographic location in the heart of Europe, skilled workforce, and well-developed business infrastructure. SEGRO Logistics Park Prague, Sazava is strategically located in the Central Bohemian Region near Prague adjacent to the busiest motorway D1, ensuring excellent connectivity to both the capital and major transportation networks.”
Located near the Prague ring road, the park boasts excellent visibility and offers direct access to the D1 Prague-Brno-Ostrava motorway. This location allows unparalleled connectivity with the Czech capital, as well as strong links to major transportation networks and the largest metropolitan area in the country. Situated just a 15-minute drive from the Prague ring road, SEGRO Logistics Park Prague, Sazava benefits from direct access to the Greater Prague area and the entire Czech logistics network.
Central Bohemia together with Prague is at the forefront of industrial and logistics expansion, ranking first in market density in the Czech Republic. Thanks to its strategic location, the region is ideal for warehouse and industrial investments.
In addition to the newly acquired park, SELP's portfolio in the Czech Republic includes SEGRO Logistics Park Prague. The 168,800 sq m park is strategically located near the airport, and is directly off the R6 motorway (Prague-Karlovy Vary) and close to the Prague ring road, providing convenient access to the D5 (Prague-Pilsen) and D1 (Prague-Brno) motorways, as well as the City centre.
Advice on the transaction was provided by iO Partners, Dentons, KPMG and Gleeds.
About SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, asset manager and developer of modern warehouses and industrial property. It owns or manages 10.3 million square metres of space (111 million square feet) valued at £20.3 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in seven other European countries.
For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive. A commitment to be a force for societal and environmental good is integral to SEGRO’s purpose and strategy.
Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing low-carbon growth, Investing in local communities and environments and Nurturing talent.
See www.SEGRO.com for further information.
About SELP
The SEGRO European Logistics Partnership (SELP) was created in October 2013 as a 50:50 joint venture between SEGRO and PSP Investments, the Canadian pension fund. At its inception, the portfolio injected by SEGRO comprised approximately €1 billion of grade A standing logistics investments and development land. The objective of the venture was to create a leading Continental European logistics platform, initially focused on six geographies, namely France, Germany, Poland, Czech Republic, Belgium and Netherlands.
Since then, SELP has also invested in big box warehouses in Italy and Spain and a combination of acquisitions, development and capital value growth means that, at 31 December 2023, the portfolio was valued at €6.7 billion and generated €342 million of annualised headline rent across 5.8 million square metres of lettable area.
SEGRO acts as asset, property and development manager for SELP.