Accolade expands into South Bohemia. Accolade buys GARBE Park České Budějovice for more than CZK 2.5 billion

Accolade Group expands into South Bohemia. It has purchased the GARBE Park České Budějovice project from GARBE Industrial Real Estate (GARBE) - the first completed and fully leased Hall 4, the new Hall 5, recently handed over to the tenant, as well as the prepared land for future construction in the area. This will be provided by a joint venture between Accolade and GARBE. The total volume of the transaction exceeded 100 million euros, i.e. nearly 2.5 billion crowns. It is one of the largest transactions on the commercial real estate market this year and ranks second in the industrial real estate segment.

GARBE Park České Budějovice, which started to be built in Boršov nad Vltavou in 2023, will cover an area of approximately 490 thousand square metres. The total leasable area will exceed 230 thousand square metres. The construction of the park, which includes a mix of logistics, manufacturing, office and retail space, is divided into two phases: the first is already underway and work on the second will commence depending on market demand.

Accolade has acquired both the land for further development and the completed halls 4 and 5 from GARBE. "Our partnership with GARBE marks another important milestone in our journey towards greater regional diversity. We are expanding into the South Bohemia region for the first time and we are going big - the park in České Budějovice will be one of the largest in our portfolio when completed. We have long believed that investing in regions and their natural centres, such as regional cities, makes perfect sense. They help create new opportunities and give people a reason to stay in places where they have quality facilities to work and live. This is crucial for the balanced development and prosperity of the whole country and the European economy," said Milan Kratina, CEO of Accolade.

A sought-after location with strong tenants

Hall 4 comprises almost 20,000 sqm and the space there has been leased by manufacturing companies Taconova and HAUSER. Swiss-based Taconova has operations in nearby Velešín and has located production and logistics for heating, sanitary and solar systems in the new building. HAUSER's main plant is located in nearby Kaplice. The premises in Boršov serve as additional warehouses for refrigeration equipment, such as freezers for the LIDL chain. Hall 5 occupies an area of nearly 30,000 square metres and was handed over to tenant NOBO AUTOMOTIVE this spring. It is a well-known supplier of interiors, exteriors and electronics for cars, which produces seat sets for premium BMW cars in its technologically advanced plant in České Budějovice.

Both completed buildings have been awarded BREEAM certification at the Excellent level. The emphasis on environmental friendliness is evident in many ways. Rainwater is used for flushing and watering, and the roofs and facades are covered in greenery. The premises are heated by heat pumps. LED lighting and heating are individually controlled, which contributes to lower energy consumption.

"Our long-term vision at GARBE is to create modern and attractive industrial parks that appeal to both investors and tenants. GARBE Park České Budějovice is proof that we are succeeding in this strategy. At the same time, I am very pleased that we have gained a strong and reliable partner for further development. I believe that a place with exceptional parameters - excellent transport accessibility, cutting-edge technologies and emphasis on sustainability - is being created here, which will be a sought-after address for companies," says Martin Polák, GARBE's Director for Central and Eastern Europe.

Accolade's own management for the growing park

As part of the first phase of the park's construction, two more buildings will be completed shortly. The main tenant of the first of these will be BILLA, which will open a supermarket directly on the site for both its employees and the public. The second building will be leased by TERA Systems and Gebrüder Weiss. The first phase also includes two other buildings with construction scheduled to start this year. In addition, approximately 160,000 square metres of the park is currently available for interested parties for further construction.

Along with the acquisition, Accolade will also take over the asset management of the entire site. GARBE will continue to provide property management. "We are taking over an exceptionally high-quality project from GARBE, whose high standards organically complement our existing portfolio. With a diverse mix of current and future tenants, we can apply our comprehensive asset management expertise here and bring the highest level of service and satisfaction to our clients. We look forward to all the new partnerships that will enable us to enter the new regional market," added Lukáš Répal, COO of Accolade.

On Accolade's side, legal advice was provided by Kinstellar, tax and financial advisory services were provided by TPA and technical due diligence was carried out by Savills. The seller was represented by CMS and tax and financial advisory services were provided by ASB. Technical due diligence was performed by RotaGroup.

GARBE Park České Budějovice has an excellent location. It is located just 2 km from the D3 motorway, which connects Prague via Tábor and České Budějovice to the Czech-Austrian border. It is 90 km from Linz, 300 km from Munich, 400 km from Budapest and 500 km from Berlin. In addition to its proximity to key motorway routes, the site also benefits from the Czech-Budejovice airport, three kilometres away.

Source: Accolade press release.