Cromwell Partnership, Prague, Czech Republic

Cromwell Property Group, has entered into a strategic partnership with Linkcity to invest in the rollout of a portfolio of premium logistics and light industrial assets in Central and Eastern Europe – for which there is high demand from transport and ecommerce related occupiers.

The first asset, LiNK Hradec Kralove, is an 8,000 sqm logistics building. Located just over 100 kilometres east of Prague (Czech Republic) it was completed in 2018. LiNK Hradec Kralove is just the beginning with further projects located in close proximity to the main cities in the Czech Republic, Slovakia and Poland.

The larger second and third assets, covering a combined 180,000 sqm, are currently also seeking pre-let commitments.

Linkcity and VCES (Bouygues’ local construction arm) will be responsible for the project development, design and construction of the portfolio, while Cromwell will source investment funding and subsequently provide asset management services upon the completion of each project.

Status: First asset completed in 2018 – further phases in progress