Panattoni Europe and AEW Europe on behalf of Logistis Opens a New Development Park in Prague West

Panattoni Europe and the project partner LOGISTIS - a fund managed by AEW EUROPE, have started new infrastructural works on a new park near Pavlov municipality, based in Prague-west, Panattoni Park Prague Airport II. The Panattoni Park Prague Airport II will consist of six buildings totalling 123 000 sqm of potential development space, planning to be built in several phases.  The developer has already started to build a bypass to avoid the village Pavlov, which is a necessary step to begin a construction of the first built to suit premises. This is the first project together with Amazon Fulfilment Centre acquired by AEW Europe on behalf of LOGISTIS in the Czech Republic. 

´Panattoni Park Prague Airport II is a unique development thanks to its strategic connection not only to International Prague Airport and the centre itself but also the close connection to R6 speedway leading to Karlovy Vary and Germany´ states Pavel Sovička, Managing Director for the Czech Republic and Slovakia said ´We are currently negotiating the potential first terms and conditions with a number of clients and I can confirm that this location is of great interest for both logistics and production companies´.

Rémy Vertupier, LOGISTIS Fund manager at AEW Europe added "Amazon Fulfilment Center was the first milestone of a larger project consisting in building a high quality logistics portfolio in Greater Prague with Panattoni, one of our historical development partner. Greater Prague is a strategically located within European distribution networks and we see further growth potential for the region and its operators."

´One of the advantages for the park is the flexibility because of the minimum size requirement, for example we can build an industrial unit of 3 000 sqm. The second important aspect is the possibility for the client to either lease the premises, which is a market standard, and/or sign the contract with the developer for built to own option,' indicated Klára Fritsch, Commercial Director for the Czech Republic and Slovakia. 

The infrastructural construction of the bypass has started earlier this month and is expected to be finished by the end of this year. The completion of the bypass will then enable to start  the construction of the premises   for the first clients without any negative impact on the village Pavlov and the citizens within that particular area.

The Panattoni Park Prague Airport II, as the name suggests, is closely linked to successful Panattoni Park Prague Airport I, which is located only few kilometers away from the Novel park, and is fully let since the beginning of last August. Amazon the giant e-commerce was the last client to sign a long term lease. Panattoni Europe has constructed 133 000 sqm logistic hall, which is the largest ever built industrial premises in the history of the Czech Republic. The Amazon Fulfillment Centre has also been awarded ´the Warehouse BTS Project´ at the upcoming 5th annual Europa Property CEE Investment & Green Building Awards held in Warsaw and nominated for the award the ´Best Warehouse´ for the year 2015 competition, known as ´Best of Realty´- nejlepší z realit.