DELTA legal helped leading developer CTP buy a modern industrial area of the former spinning mill

DELTA legal advised CTP on the purchase of a 100% share in RENWON, a company operating a storage and production facility in Chrastava in northern Bohemia near the borders with Germany and Poland.   

This project is a breakthrough for us, senior associate Veronika Chrobok said. It is the first time we have used our painstakingly developed in-house automated document generation system in a transaction. It proved to be of great added value, thanks to which the preparation of all contractual documentation, tailored to the needs of the transaction, and its negotiation with the counterparty, was extremely fast and smooth. The talks with the counterparty were substantive, relaxed and professional, and the parties were able to find a balanced solution to the issues in dispute, despite the tight timetable. The speed and success of the transactions is mainly due to the client choosing its projects very carefully in advance and the client’s implementation team responding promptly and constructively to situations as they arise. In the case of long-term clients such as CTP, our knowledge of the client’s preferences also significantly accelerates the transaction process.    

A team led by partner Pavel Fára and senior associate Veronika Chrobok was involved in the preparation and negotiation of the transaction. Other members of the team were Libor VacekJiří AbsolonHenrieta Hovanová and Renata Hurychová.   

Business Park Chrastava was opened in 2019. The site where the current building now stands was since the end of the 19th century home to a yarn spinning factory, which people later knew under names such as Bytex, Mykana or Bremi. In 2017, the site, which had deteriorated over the years, was demolished and replaced by the current modern park. The present logistics and production centre covers an area of 20,000 m² and is strategically located at the German and Polish borders. For CTP, the park is another addition to its extensive property portfolio.  

The CTP Group has long focused on the environmental sustainability of the properties it manages. As the first ever in Central and Eastern Europe, CTP could boast BREEAM In-Use “Excellent” or “Very Good” certification for a portfolio of 292 buildings on approximately 100 sites in six countries as of 1 January 2020. CTP aims to become a carbon neutral company by 2023. 

 

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