Cheb is becoming a center of modern industry. Accolade will breathe new life into old machine works by investing a billion into further development.

Since the First Republic the area of Cheb Machine works has changed several times. After the era of production of war aircraft and technological components, it will now change into the modern area in the field of e-commerce. Accolade Group will invest 47 million euro (1.2 billion crowns) into the revitalization of this area. The first tenant who signed the contract is an important German player in the field of internet shopping. Revitalization of the area will be in the hands of Panattoni Europe and the first phase of 27 000m2 (total 74 000m2) should be ready by the end of April next year.

Cheb is becoming a center of modern industry. Accolade will breathe new life into old machine works by investing a billion into further development.

The intent of building up a new building for light industry is closely connected to current activities of the group in Cheb and whole region. Except park on the north of Cheb (also common project between Accolade and Panattoni Europe) which was announced as the fastest-growing park in Europe, Accolade wants to revitalize area of Cheb Machine works on the south of the city.

“In Cheb, we invest today for more than five years and in that time there was huge progress not only of the city but of the whole Karlovy Vary region. This progress is also reflected in the preferences of investors. Cheb is one of the most, if not the most attractive locality for modern industrial development in central Europe. The most important factor in this project is to connect with tradition and then transformation of the space into new, modern, with strong genius loci, as no other place in the Czech Republic have,” annotated Milan Kratina, CEO of Accolade. The park is located directly on the A21 road and it is only 15 minutes away from the German market.

“For a long time we are able to build up quality industrial infrastructure and it reflects in all areas of life. People are able to find a well-payed job near their home with no need to commute abroad. This is why we want to continue in this trend and the project of revitalization of the old machine works is beautiful example of how we can continue in long-term industrial tradition of cankered area without seizing other areas and how arrival of new investors can improve life of the people in region,” said about the city development Antonín Jalovec, mayor of Cheb.

“Revitalization of brownfields is our specialization. We always consider environmental, employee and energy intensity friendly factors when building up a project. In this area, we would like to build a BREEAM “Excellent” building. BREEAM “Excellent” is the highest evaluation which can industrial building in central Europe get. This project was also specific due to its long negotiation time with the tenant. It was about the final form of the area and we are sure that the result will be worth it,” added Pavel Sovička, CEO of Panattoni Europe for Czechia and Slovakia.