Cromwell and Linkcity partnership complete maiden development
Hradec Králové, the first in a pipeline of industrial and logistics assets being developed in a strategic partnership between Linkcity Czech Republic, a property development company of Bouygues Construction Group, and Cromwell Property Group, is now operational eight months since construction began in February 2018.
Occupiers have already started moving into the park, which was 88% pre-let to two leading providers of transportation and logistics services: Dachser and Gebrüder Weiss. Located in the Pouchov Industrial Zone in the Czech Republic, Hradec Králové comprises 8,376 sqm of cross-docking facilities of which only 1,300 sqm remain available to rent. With the construction phase now complete, Cromwell Property Group, Linkcity’s investment and strategic partner, will be responsible for ongoing asset management of the park.
“The construction of the Hradec Králové facility was completed under the umbrella of our sister company, VCES, whose PREFA Division supplied the special precast load-bearing structure that was instrumental in allowing us to achieve such a short construction time. Both the design and the technology used in the construction were selected with the goal of achieving BREEAM’s ‘Very Good’ green certification, thus reducing the building’s impact on the environment and also saving on costs,” comments David Labardin, CEO of Linkcity Czech Republic, adding, “We see the industrial sector as a growing segment for Linkcity in CEE and the successful completion of this project in Hradec Králové demonstrates that we are able to operate in this sector as well as in our traditional market of residential development. Given the interest of our tenants in Hradec Králové, we are considering looking into new opportunities to extend the logistics park. This project is also the maiden development following the announcement of our strategic partnership with Cromwell Property Group. We look forward to exploring more opportunities with them in the future.”
Karol Pilniewicz, Head of CEE at Cromwell Property Group, comments: “This is the first of a pipeline of developments we have planned that will take advantage of future economic, infrastructure and other growth opportunities in the central and eastern European region. The key for us before investing in the development of these opportunities is to have secured significant pre-let commitments from occupiers.”
Hradec Králové was developed in consultation with the tenants to ensure we created a logistics facility that would meet their current and future requirements. For example, the ground plan for Dachser was adapted to incorporate a 30% increase in docking capacity, as well as to include exterior chambers with integrated dock levelers, a first for Dachser in the Czech Republic.