Czech developer P3 builds three warehouses in Romania

Czech group P3 is currently building two warehouses and is preparing to start the work on the third deposit in the P3 Bucharest industrial park. The company took over this park last year from the Austrian group CA Immo. The three deposits cover in total some 90,000 sqm.

The new building will have a rentable area of 42,800 sqm.

P3 has contracted a loan from Raiffeisen Bank to develop this warehouse.

“We haven’t signed any contract yet, but we have talked with three, four tenants who plan to expand,” said Peter Becar, CEE managing director within P3.

The other two deposits, covering 47,100 sqm, are part of a deal with French retailer Carrefour for setting up a logistics hub. The total investment in the three warehouses amounts to EUR 65 million.

With these new developments, the P3 Bucharest park will reach a total leasable surface of 305,000 sqm.

P3 took over the Europolis Logistic Park, the largest logistic park in Romania, in early 2015. The deal was around EUR 120 million.

The Czech developer also plans to expand its operations outside Bucharest.

“We are interested in Timisoara, Arad, Sibiu, and Cluj-Napoca, or their surroundings,” said Blake Horsley, the new country director of P3 in Romania.