The industrial developer P3 has signed an agreement with Vítkovice, a.s. and VTK NCA a.s. to buy 40 hectares of land in the Vítkovice area in Ostrava.
Formerly known as Aglomerace, the area will be used by P3 to build an industrial and commercial district that will include production and storage warehouses, stores, showrooms, offices, and various other facilities. Construction work is expected to begin at the end of this year, which means the park will be completed in the middle of the decade.
"We have a unique opportunity to breathe life back into a place that is an integral part of the magnificent history of Ostrava, the industrial heart of the Czech Republic. The project will be an extraordinary endeavour in the field of industrial development. I am confident that we will be able to restore the industrial zone in a sustainable fashion, while providing a seamless visual connection to the nearby city centre," explained Tomáš Míček, P3 Country Head for the Czech Republic who hails from the Silesia Region where Ostrava is the regional capital.
Built-up area will account for 160,000 sq m of the 40-hectare property. The size of units for lease will range from 1,500 sq m to 35,000 sq m. Their configuration will be flexible.