ARTICLES LABELLED WITH TAG Prague

Upvest from Komerční banka Group together with the American real estate firm Lincoln Property Company has bought the Zirkon office centre in Prague 8 from Českomoravská nemovitostní (ČMN). The price of the transaction has not been disclosed.

AFI Europe Czech Republic, a developer that has been focusing on the construction of rental housing in recent years, has already achieved 50% occupancy in its two newly completed buildings: the AFI Home Karlín at the corner of Thámova and Pernerova streets and the first phase of AFI Home Kolbenova in Vysočanská street.

The largest transaction on the Czech office market this year took place in Prague. A listed building in one of Prague's most expensive streets, Na Příkopě, was bought from Commerzbank Group by Trinity Bank. The price of the transaction has not been officially disclosed, but it is likely to exceed CZK 2 billion (€82 million), making it this year's largest transaction on the office building market, writes online daily newstream.cz.

More and more companies are considering expanding into Czech regions, but a lack of suitable office space is preventing them from doing so. In regions outside of Prague or Brno, there is not only a shortage of modern space for rent, but also a lack of flex operators. Those types of businesses could benefit from the growing interest of international companies in the Hub & Spoke or Flex & Core model, reports Colliers. 

UBM Development Czechia has completed the rough construction of the Timber Prague project of wooden apartment buildings, which are being built as part of the Arcus City residential complex in Prague-Reporyje. These modern chamber buildings made of solid CLT panels express the first multi-storey apartment buildings made of wood in the modern history of the capital city. They comprise a total of 62 units with layouts from 1 + kk to 4 + kk, ranging in size from 39 sqm to 110 sqm and each of them has its own cellar, parking space in the underground garages and a balcony, terrace or front garden. To date, a quarter of the apartments have been sold. The project is being built to BREEAM Excellent standard.

České dráhy (ČD) sold the remaining part of the land at the Smíchov railway station in Prague for just under CZK 2 billion (€82 million). Over 126,000 sqm of land will be bought by the Sekyra Group. According to the Czech news agency (ČTK) Czech Railways said that it had received a total of CZK 2.4 billion (almost €98.6 million) for the Smíchov land. A new district of Smíchov City is to be built on the land.

State-owned Czech Post (Česká pošta) has sold three unneeded properties in Prague's Krč district in an electronic auction. Together they will fetch almost CZK 400 million (€16.4 million). The winner must pay the price within 30 days, writes E15.cz.

Thirty interested parties are bidding for the Jindřiška Tower in the centre of Prague, which was offered for sale by the Prague Archbishopric at the end of last year. The Prague City Council has also submitted an offer. The price is expected to be €4.09 million. The archbishopric also decided to sell the Clara Futura hotel in Dolní Břežany for €12.6 million to the investment fund Investika, writes the Czech Press Agency ČTK.

There are currently more than 56,000 sqm of office space in Prague available for immediate occupation. These are mainly office spaces that have been vacated by their previous tenants due to relocation to new premises or downsizing because of the transition to a hybrid office model. Companies that want to get up and running quickly in their new offices and make substantial savings on the capital costs required for fit-out have plenty to choose from. This secondary supply is a good complement to the shortage of available office space in new buildings that Prague is currently facing, according to the Cushman & Wakefield report.

A new generous public space has been created on the banks of the Vltava River in Karlin, easily accessible from Holešovice thanks to the HolKa footbridge. The entire area managed by CA Immo is now called Riverside Karlín. Since September, a new kindergarten has been open there, which is also accessible to families from the surrounding area, and the developer is preparing other services that have been lacking in the locality so far. The River Rink, which has been transformed from an ice rink into a place where other cultural and sporting activities take place, is already open all year round.