At Ostrava Central, P3 is bringing back to life a disused industrial site by repurposing it into a cutting-edge logistic facility fit for the 21st century.
The location in the city of Ostrava in the Czech Republic is on ‘home ground’ for P3, a developer of high-quality logistic facilities, with a track record in the sector which stretches back more than two decades.
Comprising 160,000 m2 of gross leasable area on a plot of 44 hectares, work began on Ostrava Central in the autumn of 2021, on a speculative basis. Already under development are three new buildings comprising a total of more than 30,000 m2, and infrastructure links to the local transport network. When complete, the site will host 16 new high-standard buildings.
An indicator of the demand for industrial facilities in this area is that P3 Ostrava Central already has its first tenant. In early 2022, a supplier of industrial handling equipment signed a lease for 2,400 m2.
As part of P3’s commitment to modern development and decarbonisation, each new construction at Ostrava Central will be built to the highest standards of sustainability, targeting a BREEAM ‘excellent’ rating. This means the assets will also serve the environmental goals of tenants. Ostrava Central is a brownfield site, meaning that repurposing the land will play a role in enabling Europe to achieve its net-zero greenhouse gas emissions goal. In this way, Ostrava Central already offers an environmental benefit because true sustainability starts with the soil itself, not with construction of ‘green’ buildings.
Why Ostrava? The city is a great place for both work and play. It is full of culture, with restaurants, bars and colleges. Located near the Lower Vítkovice complex, P3 Ostrava Central is easily accessible by the local labour force, positioned just 3 kilometres from the city centre, or 5 minutes by car. It is bordered by the Místecká and Rudná roads and the Ostravice river.
Bringing the site up to date and making it future-ready has not been simple. The brownfield location was used for heavy industry as long as 150 years ago, then became a landfill site and later fell into disuse. P3 is revitalising the location and delivering a boost to the local community.
The park will offer facilities for city logistics, e-commerce, showrooms, as well as light manufacturing, offices and even leisure activities. Units between 1,200 m2 and 30,000 m2 will be available for rent. The park retains some original industrial footprints, while adding 130,000 m² of green space. Completion is expected in 2027.
Aleš Zacha, P3’s Head of Development in the Czech Republic, says this ambitious project has been possible thanks to P3’s reputation as a high-quality developer and the expertise knowledge of its local teams.
He explains: “Our team put a lot of work into this site. The previous owner of the plot wanted to see the potential of what can be achieved here, or he wouldn’t sell. He was impressed by our approach and trusts our plan for P3 Ostrava Central.”
With P3’s managing director for the Czech Republic, Tomáš Míček, being born in Ostrava, this project was a perfect fit for the company. “It’s about empathy and understanding the local culture and people. There’s a lot of players in the market, but they might not have that level of local knowledge which is really important,” adds Zacha.
The power of local knowledge to benefit customers is on full display at P3 Ostrava Central, where Zacha has been able to offer price stability to potential occupiers even when construction costs are rising. This is thanks to the speculative nature of the project, meaning costs are fixed. Due to this long-term planning by P3, there have been no sudden rental increases for occupiers to contend with.
Zacha adds: “I’m really excited about the location. Most industrial estates in Ostrava are at the edges of the city, but the advantage of P3 Ostrava Central is that due to the site being old, the city has expanded over time and absorbed it. Today, Ostrava Central is much nearer to the city centre. Customers will certainly benefit from this location.”