Garbe enters Czech market with a 65 000 sqm acquisition of brownfield development land in Chomutov.

News 20/10/2020

GARBE Industrial Real Estate GmbH will develop an industrial real estate Asset comprising 32 000 sqm in Chomutov. Development of the newly acquired plot includes demolition, revitalisation, and construction of sustainable industrial real estate in line with the surrounding landscape.

CHOMUTOV, 19 th October 2020 – GARBE Industrial Real Estate GmbH, one of the leading specialists in logistics and industrial real estate in Germany and the Netherlands has acquired as part of its European expansion strategy into the CEE market, a first class development opportunity in Chomutov, The land plot compromises 65000 m2 is directly located on highway exit D7. Demolition of the current properties will begin by the end of this
year and construction of the new, 32000 m2 state of the art logistics real estate facilities is scheduled to begin in summer 2021.

Garbe entered the Czech market to provide modern and sustainable logistics and industrial space for it’s customers which include production, logistics, and e-commerce companies. Ústecký kraj provides additional attractiveness for customers focused on the German market. Garbe’s key priority is creating value through real estate and this includes sustainable development protecting the surrounding area and utilizing environmental solutions for its developments.

The new property in Chomutov will not use any greenfield land and the development will include revitalisation of the current site with its derelict properties. This ensures that original paved areas will be incorporated into new paths, parking spaces, and roads. The area, previously a construction yard, will provide new valuable jobs in a region with one of the country’s highest unemployment rates. Tenants will benefit from a sustainable environment and the asset will generate eco friendly energy by using photovoltaic panels for power generation.

“We are proud to complete this purchase in the midst of challenging times. We are excited to partner with companies, which share a similar set of values and we want to assist our customers with their product and their operations to be most successful. All our properties will be constructed according to the latest technologies and comply with the latest environmental standards to minimize the impact on the environment,” said Martin Polak,
Managing Director Garbe CEE.

The newly acquired plot also offers extensive capacity for gas and electricity connections. The industrial warehouse can easily be adjusted to various needs of its future tenants.

The transaction was facilitated by the 108 AGENCY real estate consultancy.

“We are happy that Garbe has acquired this plot for its future development. The location is very unique as it is located directly in Chomutov, right next to a trolleybus stop. We see much potential for development and business growth in the CEE with connections to North and Northwest Bohemia. It is positive to see that Garbe shares this opinion. We are already in negotiation with the first tenants,” said Jakub Holec, CEO 108 AGENCY.