Dutch owned industrial park developer CTP continues its accelerated growth in Romania by acquiring a logistics park near Bucharest – Chitila Logistic Park (CLP). The transaction was concluded in September and the value of the investment reaches EUR 17.3 million, a press release informs.
CLP has been purchased from UBM Development, the leading European real estate developer. This acquisition is part of CTP’s strategy of reaching a total leasable area of approximately 1 million sqm in Romania by the end of 2018.
”The decision to buy Chitila Logistic Park is in line with our continuous investments made in the last couple of months. We aim to grow our stock of industrial and logistics spaces, both nearby Bucharest and at a national level, in order to respond to the increased new demands from the market and to satisfy our clients need to expand their businesses. Other reasons were the existing long-term lease contracts, the current tenants from this park that are well-known and important companies and the strategic area where CLP is located”, explained Ana Dumitrache, Country Head of CTP Romania.
Currently, CLP has a total surface of 93,000 sqm, out of which 45,000 sqm lettable area and 48.000 sqm surplus land for further development. The rentable areas span from 1,750 sqm to up to 45,000 sqm and can be used for storage, distribution and light industry activities. CLP is fully leased at the moment and has among its tenants important names such as: the international logistics company, Havi Logistics, the pharmaceutical distributor Europharma and the newspaper typography Ringier Print, part of the Ringier media corporation.
CTP’s plans for the new acquired property include an expansion and the first phase of development is programmed to start at the end of this year and will consist in building circa 13,000 sqm of new warehouses.