Logistics property developer CTP has added 69,000 m2 of buildings and development land to its CTPark Brno Líšen in the Czech Republic through a sale-and-leaseback transaction with Zetor Tractors, a Czech agricultural machinery producer.
The acquisition marks a major step in the overall €125 mln transformation of the former Zetor brownfield industrial site into a modern new park for light manufacturing, retail, research, and inner city logistics which CTP embarked on in 2019.
The transaction sees CTP consolidating its ownership in the Líšen district, increasing the total land size to 29 hectares. Upon completion, CTPark Brno Líšen will provide some 150,000 m2 of lettable area with over 2,500 jobs.
David Chládek, country head, CTP Czech Republic said: ‘We have worked with Zetor for the past three years and this transaction represents an important milestone in the project for CTP, having agreed several deals leading to the creation of the largest brownfield industrial / logistics redevelopment by GLA in Brno. We have already developed 30,000 m2 of facilities at this location and continue to see strong demand for new space in our pipeline.’
Zetor Tractors will continue to occupy the buildings that CTP has acquired in the latest transaction for its production activities.
CTP aims to complete the 80,000 m2 of space currently under construction at CTPark Brno Líšen by 2024/2025, transforming a previously derelict area of Brno into a thriving urban business park. All the properties are built to BREEAM Excellent standards and solar energy is being used as a secondary source of electricity.