Billion investment in industrial development in Pilsen. Accolade Fund invested in new production halls in Přeštice and Ostrov u Stříbra

Development of industry in the Pilsen Region and promoting business producing high added value products. These are the two main reasons why Accolade Fund takes over two production halls in the Pilsen region: in Přeštice and Ostrov u Stříbra. The total investment in new buildings with over 48,000 square meters has in the final phase reached CZK 1 billion crowns.

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“The buildings we bought came with good long-term tenants. Stříbro is leased under contract for seven years; Přeštice for 15 years. In both cases it is a high value-added manufacturer, which shows in the better-paid employment opportunities,” Milan Kratina, Chairman of the Board Accolad Fund, explains the significance of the investment.

At present, the fund has 125,321 square metres of area with a total value exceeding CZK 2.7 billion available in both complexes. In addition to traditional industrial manufacturers, the buildings are also used by high-tech companies that, in addition to products with high added value, have generated a significant increase in skilled jobs bring in the Pilsen region.

“Tenant diversification is important. Each industry has a slightly different economic cycle, and this gives Accolade investors as well as local workers a degree of assurance that industrial zones will be prosperable  thanks to the automotive, electronic manufacturing and engineering.  Our tenants are already the most important local employers; if they do good, the whole region will do good,” Zdeněk Šoustal, member of the Board Accolade Fund. 

Both new buildings are built by Panattoni Europe to meet the requirements of BREEAM certification and offer both sustainability as well as good working conditions for employees. Suppliers appreciate the transport connection: Stříbro is located just off the D5 motorway and Germany is only 20 minutes’ drive away, and Přeštice is 10 minutes off the D5 and right on the road connecting Pilsen and Munich. Tenants enjoy an excellent connection with Western Europe.

"Take, for example, special air-conditioning, rainwater infiltration, or that, before we started building, we moved fertile soil onto the fields of local farmers. Last but not least, both logistics parks are perfectly connected; either with respect to the D5 motorway or the city of Pilsen itself," concludes Pavel Sovička, Managing Director Panattoni Europe for CZ/SK, which built both projects.