P3 Logistics Parks will significantly expand its portfolio in the Czech Republic this year

"P3 is a long-term investor, owner, manager, and developer of industrial real estate. We rely on the financial strength of our shareholder to allow us to focus on new investment opportunities for our future growth. We are now focusing mainly on land around Prague and Brno of at least 30,000 sqm, and at least 50,000 sqm in other locations," comments Peter Jánoši, who heads P3 in the Czech Republic and Slovakia.

The intention of the European developer may be interesting for owners who have capital tied up in real estate and need to release it through a sale & leaseback transaction. P3 is particularly looking for sites that have a suitable use according to the zoning plan (light manufacturing and warehousing) and are well accessible by transport. "We are prepared to buy not only land for future development but also existing buildings that are either vacant or occupied by tenants. We are interested in buildings not only of A or A+ quality, which will be close to our standard but also of a lower standard suitable for redevelopment," said Ondřej Vodička, who is in charge of acquisitions at P3.

The key parameter for new acquisitions is location. P3 has always prided itself on excellent transport accessibility. In addition to good connections to motorway routes and first-class roads, the route to the park should not lead through populated areas of the villages in order to limit the impact on the quality of housing around the parks. More broadly, the developer is also considering the employment potential of the site. In total, the P3 portfolio could expand by tens of thousands of square metres of land in the Czech Republic this year.