18
Dec 2018

New Construction at the Eastgate Park Prague Area Has Just Started

The limited possibility of new constructions has been one of the main problems for the industrial property market development for the last years. This problem multiplies dramatically with regard to urban industrial zones. The solution lies in the revitalization of brownfield areas and the filling out free spaces near existing buildings. A palmary example is the area of the Eastgate Park Prague and the construction of a new hall of approximately 5,000 square meters within it.

The development company, The Charnwood Company, which owns the Eastgate Park Prague warehouses and administration buildings in the industrial Prague district of Štěrboholy, along the Průmyslová street, takes just the decision mentioned above. In 2018, 12,000 square meters of commercial space, tailored for selected companies, were rented. One of the tenant company is the logistics company Transconsult International, which will occupy a space of about 5,000 square meters in a new warehouse from the next year. The new building, which now is under construction, will be incorporated into the gap between existing warehouses. Thus, it will increase the capacity of the entire area originally used to distribute the paper products by 12%.

„New industrial construction within Prague is exceptional. We are pleased that the extension of Eastgate Park Prague will enable Transconsult International to develop its logistics activities in this modern space with excellent transport services“, says Matěj Indra, consultant of the the real estate consultancy company 108 AGENCY, which mediated the transaction.

Prague 10 - Štěrboholy is one of the few possibilities where warehouse and logistics projects can be developed within the Capital City of Prague. Other areas, that can be suitable for the industrial development, relinquish a territory to residential projects. It can complicate so-called city logistics in the future, when it will be difficult to reconcile the requirements for the city's high-speed supply with the transport accessibility of industrial areas on the periphery.

In addition to the completion of the Eastgate Park Prague, the construction of the City Park Hostivař has started within the same site. It will replace the brownfield between Průmyslová and U Továren streets. After its completion in Q4 2019, City Park Hostivař will offer numerous flexible commercial units.

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