ARTICLES LABELLED WITH TAG Czech Republic

A real estate bond sale in Slovenia worth €9.5 million was announced by Slovak property developer Corwin and Czech investment company Hartenberg operating in CEE.

A CZK 4 billion (€162 million) real estate deal is set to take place in the Czech Republic in 2024, which will undoubtedly be one of the biggest in the next year. Development group Portin is set to sell a set of around ten retail parks whose main tenants include Billa, Penny Market, DM Drogerie and Datart, writes online daily e15.cz. 

The City Point office building in Prague 4 - Pankrác is changing hands. It is being transferred from the hands of the investment company Amundi Czech Republic to the ownership of the domestic operator of coworking spaces and serviced offices WorkLounge. Mint Investments Group was the investment advisor that handled the entire transaction for Amundi. Agents from real estate consultancy Cushman & Wakefield and law firm Havel & Partners also participated in the deal. The transaction was worth more than CZK 450 million (€18.25 million). 

The capital city will buy the Czech Post building in Na Strži Street in Prague 4 for CZK 425 million (€17.3 million). The city wants to sign the contract with the post office as soon as possible, said councillor Adam Zábranský (Piráti). All 57 councillors present supported the purchase. The building is a seven-storey building from 1984 with adjacent land, writes ČTK.

Half of the hotel investors in CEE already address ESG in their transaction due diligence, and 40% are in the process of including it, says Cushman & Wakefield in their newest report.

UBM Development Czechia has sold an apartment building in the Timber Praha residential project to the real estate investment fund Future X1. Building M in the Timber Praha project, which represents the first multi-storey apartment building made of wood in the capital city, comprises 15 apartments with layouts from 1 + kk to 4 + kk and sizes ranging from 39 sqm to 110 sqm. The price of the transaction was not disclosed. 

The Czech Post (Česká pošta) has announced a tender for the main post office building at the corner of Politických vězňů and Jindřišská streets in Prague. The asking price is CZK 1.538 billion (€62.3 million) excluding VAT. The tender was preceded by an offer of the building to state institutions, which was not taken up. This is according to information from the Czech Post on its website, the ČTK news agency reports. 

Q3 2023 did not bring much positive news from the Prague office market. Since Q2 2022, no office buildings have been launched on the Prague real estate market and the future does not look promising either, according to the latest analysis by Prague Research Forum. 

The new Managing Director of MVGM Property Management Czech is Ondřej Fukal, who joined the team at the beginning of October, the company announced on LinkedIn. 

The modern industrial stock reached almost 11.5 million sqm, as nearly 183,000 sqm of new space was delivered to the Czech market in Q3 2023. Demand for industrial space slowed down in Q3 2023 reaching only 181,700 sqm. Speculative development slightly increased to 41% of the over 1.4 million sqm currently under construction, continuing the trend of the previous three quarters. The vacancy rate decreased by 22 basis points compared to the previous quarter, and remained low at 1.5% Prague’s average highest achievable rent has remained stable, reaching around €7.50-7.70 per sqm per month, the Industrial Research Forum (IRF) reports.