Panattoni Europe plans brownfield in old Czech glassworks

Panattoni Europe is preparing to develop a new industrial zone in a former glassworks located south of Teplice. The Hostomice brownfield site has undergone demolition but the developer will have to undertake a clean-up of the land, following decades of continual contamination. Panattoni Europe general director Pavel Sovička says the area will see only benefits from the investment. "Once the area is back in business, part of this land will be in better ecological shape than it has been in the past 150 years." Panattoni is working with Accolade investment group on the project. "We believe that our cooperation will continue even in the investment phase," says Accolade's CEO Milan Kratina. "The level of investment needed to complete the buildings will exceed CZK 500m. The location is ideal for tenants to use for e-shops, small-scale logistics or light manufacturing."