ARTICLES LABELLED WITH TAG Czech Republic

Hines Global Income Trust has acquired Eastgate Park. This property is the 17th industrial asset in the Hines Global portfolio and is 99% leased.

The figures describing the performance of shopping centres that Cushman & Wakefield has available (primarily for small to medium-sized centres in Czech regions) show a positive trend. Following the full reopening of shops in shopping centres this May and June, both revenue and footfall were higher than the figures from the same period last year and the trend carried over to the summer holidays. Compared with 2020, July revenue grew by 3% and August revenue by 11%. Compared with the pre-crisis year 2019, July revenue was 2% lower, but in August it was almost 7% higher.

Cushman & Wakefield’s sales team managed the sale of approximately 45,000 sqm of land in the area of Borská pole in Plzeň for its client, Precision Castparts Corp. The purchaser, Arete, is aiming to redevelop the area.

In October 2021, Hotel Astral became the second hotel in Fidurock's residential portfolio. On an area of ​​2,689 sqm, it offers its visitors a total of 60 comfortably furnished rooms, a modern conference room with a capacity of up to 100 seats and a summer terrace for quiet outdoor seating.  

Patria Logistics-Retail Fund, managed by Patria Investment Company, successfully finalised the purchase of the Plana Logistics Park (PLP), located in Plana nad Luznici, Southern Bohemia. PLP is the third property acquired to the Fund and increases the total number of real estate assets owned and controlled by PIC to eight.

Prime headline rents have increased slightly to a new level of €5.20 sqm/month in the Czech Republic and €5.50 sqm/month in the Greater Prague region during Q3 2021. The Industrial Research Forum published its fresh industrial market figures.

As part of the restructuring of the Avestus Real Estate business, a new residential development entity, SHD Real Estate (SHD) has been established. The new company will continue to work on residential opportunities with a remit to develop across all residential sectors, including residential for rent and student accommodation. SHD will be operated and managed by the original Avestus Real Estate residential team based in Prague and they will be investing in opportunities across the country. Avestus will continue to focus on its existing commercial development portfolio, the latest project under construction being the Infinity office complex in Wroclaw.

Local investor Českomoravská Nemovitostní has expanded its portfolio with three properties in Prague's Karlín district with a total area of more than 30,000 sqm. The company bought the Zirkon, Apeiron (Ruby) and Corso Karlín office buildings.

Online food sales have been growing at a rapid pace in recent years in the Czech Republic, the revenue in this segment has grown by 106% on average per year during the past three years. Growth rates were strong elsewhere in Europe as well, averaging 37.3%. Cushman & Wakefield has analysed data from 24 European countries.

CA Immo records strong tenant demand for its Prague office buildings. With two new leases signed in the newly built Mississippi House and Missouri Park office buildings in the River City Prague campus, only 40% of the office space in these buildings remains available – and letters of intent have been signed with three additional tenants who will potentially lease another 30% of the total office space.