Business divisions

This business division brings together the development, utilisation and management of Pannova Group’s own real estate portfolio. For undeveloped sites, we assess the conditions for constructing buildings suited to the intended use and establishing utility connections. For existing properties, investment decisions focus on the condition of buildings and utility connections, as well as the possibilities for their conversion or redevelopment.

These decisions have direct implications for capital requirements and project timelines. The development schedule affects when a site or building can be put into use, leased or sold, and under what conditions. We therefore assess technical preparations in conjunction with ownership objectives and the intended use of the property.

The real estate development and management business division brings together the ownership, investment and operational responsibilities associated with Pannova Group’s own portfolio. Preparatory and coordination services provided for partners’ property projects are described on the real estate project management page.

The Business Fundamentals of Development

The development potential of a property is determined by its intended use and the economic conditions involved. In addition to plot size and zoning classification, we assess the expected costs of site access, utility infrastructure development, conversion of existing buildings and permitting. The costs and time required for these activities also influence the investment schedule.

Different business calculations underpin the development of a manufacturing facility for own use, an industrial building intended for lease or a mixed-use urban development. During the preparation phase, we therefore distinguish between existing site characteristics and the conditions requiring further investment. We also identify the issues that need to be clarified before a development decision can be made.

The technical decisions involved in property development have contractual, financial and operational implications. For example, the approach to plot subdivision can affect utility routes and the conditions for future sales. The condition of an existing industrial building can also influence renovation costs and the date on which it can be put into use.

As a corporate group, Pannova Group can draw on expertise across several fields to assess these interrelated aspects. The scope of legal, financial, insurance and operational support is always tailored to the specific property and investment programme.

Back-Office Support for Investment and Operations

Putting a new site or redeveloped property into operation requires not only technical property management but also the organisation of corporate support processes. Contract management, financial administration, lessee relations and the implementation of digital systems are particularly important when an investment also involves the establishment of a new operational unit.

Depending on the project requirements, Pannova Group's back-office support may cover the following areas:

1. coordination of contractual, legal and regulatory matters;
2. support with financial administration, accounting, taxation and payroll;
3. assessment of financing and grant opportunities;
4. review of insurance and risk management matters;
5. organisation of lessee relations and operational tasks;
6. development and digitalisation of HR, IT and administrative processes.

Coordinated Decisions, Clear Responsibilities

The various requirements of an investment determine the sequence of subsequent steps. For example, we need to establish the energy requirements of a planned industrial facility before assessing the necessary utility infrastructure upgrades. Similarly, an assessment of an existing building’s technical condition must precede decisions on renovation costs and scheduling.

During the preparation phase, we identify the issues requiring further investigation, the specialists needed and the key investment decisions to be made. This allows the development programme to proceed on the basis of clearly established conditions.

For properties we own, the implications of development decisions are also felt from the ownership perspective. We need to assess the investment required to adapt an existing building for a new use, when improvements to the internal infrastructure are justified, and what maintenance costs the chosen solution will entail.

We also apply this approach in partnership projects. The ownership mindset is reflected in the preparation of decisions:

• we assess the potential uses of existing buildings based on their condition, the cost of conversion and the intended function;
• we coordinate improvements to internal roads and utility infrastructure with plot subdivision and anticipated use;
• we consider lessee and user requirements alongside the property’s maintenance and operational needs;
• we organise technical and property management tasks with the involvement of the necessary specialist service providers.

Decades of Experience in Complex Investments

Pannova Group’s activities in the real estate market began with estate agency and privatisation consultancy. The group later expanded into industrial park development, industrial, commercial and residential property investments, property management, as well as business and back-office services.

The real estate market, investment, real estate management and business operations expertise gained over the years informs both the development of our own portfolio and our work with partners.