GARTNER INTERTRANS MOVES INTO 9,900 SQM OF LOGISTICS SPACE AT CTPARK BUDAPEST VECSES IN HUNGARY

Amsterdam, 10 October 2024 – CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has leased 9,900 sqm of logistics space to Gartner Intertrans Hungaria Kft, one of Hungary’s largest international transport companies with operations across Europe at CTPark Budapest Vecsés.

CTPark Budapest Vecsés is located to the south-east of Budapest, with the park also offering Gartner Intertrans the opportunity to expand into more space there in the future. 600,000 sqm of additional land is available for development at the park, providing the option for CTP to deliver a further 260,000 sqm GLA of logistics space to support new or existing clients looking to expand there. The total GLA at CTPark Budapest Vecsés is expected to grow to around 350,000 sqm in the future.

The deal with Gartner Intertrans provides further evidence that the rapidly growing economies in Hungary and across Central and Eastern Europe (CEE) are continuing to drive demand from third party logistics (3PL) occupiers such as Gartner Intertrans that handle supply chain functions for businesses.

CEE nations have become robust manufacturing bases for international businesses driven by a multitude of factors including infrastructure investments from the EU boosting their connectivity to Western Europe and multinationals looking to de-risk their supply chains by ‘nearshoring’ their production from locations such as Asia to be closer to their European customers. In Hungary, demand for industrial and logistics space is also being driven by government policy, with a target in place to increase Hungary’s share of manufacturing to 30% of GDP by 2030.

CTPark Budapest Vecsés is a highly sustainable logistics park, home to Hungary’s second ever BREEAM Outstanding In-Use rated building for its exceptional environmental and energy performance credentials. The park’s sustainability features include heat pumps for all buildings, excellent insulation and building materials that reduce client energy bills, LED lighting and roofs designed for PV panel installation. CTP’s Parkmaker model is also at the heart of CTPark Budapest Vecses design, ensuring it goes far beyond providing logistics space alone to function as a thriving business ecosystem. The park is set to benefit from CTP’s Clubhaus concept – an onsite community hub with features such as restaurants, shops, meeting places, co-working spaces and medical services for both park workers and local people. CTPark Budapest Vecsés substantial size also means a wide range of wellbeing enhancing offerings including a sports pitch, outdoor gyms and cycle paths are planned.

CTPark Budapest Vecsés is located on the Budapest ring road (M0 motorway) near the town of Vecsés, south-east of Budapest. It is 6kms from Hungary’s M5 motorway and 7kms from the M4 motorway, while Budapest International Airport is a few minutes’ drive away providing businesses located at the park with excellent access to the rest of Europe.

Bordering seven countries in the heart of the CEE region, Hungary’s optimal geographic location has attracted significant FDI inflows in recent years.  The country has a tradition of logistics, and one of the highest densities of trans-European transport networks in Europe. Hungary’s low corporate income tax and relatively limited bureaucratic red tape also make it a business-friendly location for investors.

About CTP

CTP is Europe’s largest listed owner, developer, and manager of logistics and industrial real estate by gross lettable area, owning 12.4 million sqm of GLA across 10 countries as of 30 June 2024. CTP certifies all new buildings to BREEAM Very good or better and earned a negligible-risk ESG rating by Sustainalytics, underlining its commitment to being a sustainable business. For more information, visit CTP’s corporate website: www.ctp.eu

CONTACT DETAILS:
CONTACT DETAILS FOR MEDIA ENQUIRIES:
Patryk Statkiewicz, Group Head of Marketing & PR
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Email: patryk.statkiewicz@ctp.eu

SEC Newgate
James Carnegie
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Email: CTP@SECNewgate.co.uk