Published 1. 7. 2011

Kühne + Nagel sign lease agreement at Tulipan Park

The logistic company Kühne + Nagel, spol. s r.o. has extended its lease of certain industrial areas at Tulipan Park Praha at Hostivice u Prahy. The company has leased roughly 9,100 square metres of storage space and further 700 square metres of offices, for the term of at least five years. The headquarters of Kühne + Nagel’s logistic operations for the Czech Republic is situated at the Tulipan Park; however, the warehouse serves its clients all over the Central European region.

This is the largest transaction on the industrial property market west of Prague since the beginning of 2009. The extension of the lease agreement confirms that the region situated west of Prague has a strategic position for logistic companies.
The transaction has been arranged by the industrial team of Cushman & Wakefield, which represented the park owner, the British developer SEGRO.

“As regards Tulipan Park, we appreciate most of all its potential for our strategic growth within a single location, therefore we have decided to remain on the existing premises,” says Mr František Pazdera, Logistic Manager, Kühne + Nagel.

“Tulipan Park Praha benefits from its location and outstanding traffic connections. The park has been fully leased out and we have registered interest among other potential customers as well. Currently, we are planning further expansion of the park, which will offer as much as 28,000 square metres of new storage space,” says Ms Katarína Bogthálová, Letting and Property Manager, SEGRO.

“The vacancy rate in this part of Prague is higher than the average for the whole republic. Therefore, we consider the fact that Tulipan Park has been fully leased out as evidence of its outstanding placement, functionality, and flexibility,” says Mr Jaroslav Kaizr, Head of the leeting Industrial Team, C&W.

At the moment, Tulipan Park Praha comprises in total 71,000 square metres of space available for rent. SEGRO plans to expand it further to the north of the existing premises, namely, next to the R6 expressway offering a direct access to the park. At the final stage, the new premises will cover roughly 50 hectares of industrial plots.

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