Prime BREEAM certified light industrial facility
Cushman & Wakefield are pleased to announce that they have advised Portland Trust - a real estate developer based in Prague, and ARES Property Partners - a leading international real estate fund manager on the sale of Karlovarská Business Park – Unit F in Prague 6. This property was bought at a net yield of 8.1% for approx. €8.5 million by a Czech private investor.
Unit F is an 11,450 m² light industrial unit, forming part of an industrial cluster of seven buildings known as the Karlovarská Business Park. The industrial facility is fully leased to Lindab, a leading international manufacturing company listed on the NASDAQ Nordic Exchange in Stockholm. The long term triple net lease is secured by the parent company, Lindab AB.
Robert Neale, the Managing Director of Portland Trust says: “It is a new and institutional building and was the first industrial unit in Prague to obtain a BREEAM rating back in 2012 and an award from the Czech Green Building Council. It is the final building out of the 60,000m2 Karlovarska Business Park to be sold and with a 12 year unexpired lease to a great tenant should prove to be a good investment.”
“This transaction provides further evidence that domestic capital is able to complete institutional type of deals and is ready to pay a premium for the best product in the top locations,” says Ivo Suchomel from Cushman & Wakefield’s Capital Markets Group.