One of the best industrial parks is changing ownership: Accolade and Conseq bought the Karlovarská Business Park
The Karlovarská Business Park has new owners: it has been bought jointly by the open-ended real-estate fund Conseq Realitní and the commercial real estate investor Accolade Group. The majority interest, accounting for ninety per cent of the transaction value, is held by Conseq Realitní.
The property sold includes four buildings with a leasable area of almost 20,000 square metres, suitable for logistics, e-commerce, offices as well as retail services. Neither the buyer, nor the seller disclosed the actual amount of the transaction; the value of the property is about half a billion crowns. The Park is situated right at the place where the Karlovarská D6 Motorway crosses the Prague Ring Road, just five minutes from the Prague Airport. The location offers good access to both the Prague Centre and the European motorway network.
“Acquisition of the Karlovarská Business Park is a superb investment opportunity for Conseq Realitní. It will help to diversify the Fund’s real estate portfolio, thus further strengthening its stability, security and investors’ earnings”, says Jan Vedral, Chairman of Conseq Board of Directors.
“Karlovarská Business Park is one of the best existing in the Czech Republic. Its location offers good prospects, encouraging long-term leases, as evidenced by developments over the last ten years. And the acquisition also confirms our cooperation with Conseq,” says Milan Kratina, Accolade Group’s CEO. “The place where the Park is located is perfectly visible and accessible to transport; it is a multi-function park suitable for retail, offices and industrial activities,” adds Lukáš Répal, Head of Accolade Group’s Asset Management.
UniCredit Bank provided the funding for the transaction. “We are glad to have been chosen by Accolade and Conseq Realitní to finance the acquisition of the Karlovarská Business Park, giving us the opportunity to take part in buying the properties in one of the most successful industrial parks in the Czech Republic,” says Jan Bohata, Senior Relationship Manager in UniCredit Bank’s Real Estate Finance Division.
The Karlovarská Business Park is located at the site of a former coal depot from where coal was supplied mainly to Prague. The premises are attractive to customers living in the Prague 6 and 5 Districts and those from the newly built Prague-West residential areas as well as to the people travelling via the Václav Havel Airport. The premises are perfectly accessible by car and truck. Buses going to the Metro have a stop in front of the premises. The buildings are very well visible from the Prague Circle Road, from the D6 motorway and from the Karlovarská Street.
The current tenants include EvoBus, selling and servicing Mercedes-Benz and Setra buses, and Lindab, which develops, makes, sells and distributes the products and system solutions that facilitate the construction of buildings and improve the climate inside them. LifeSport, the exclusive representative of the KETTLER brand, also has its operations there, or Fresenius, the world’s leading provider of products and services to people with chronic renal failure.