ARTICLES LABELLED WITH TAG Prague

In response to growing demand in the Czech property market for specialist asset and market analysis, Cushman & Wakefield has expanded its Advisory service line with a newly established team of 3 dedicated professionals headed by Richard Hogg MRICS. In conjunction, Michal Naskos MRICS, a veteran of the valuation industry, becomes Head of Valuation Czech Republic.

Transactions in the logistics sector have been dominating the Prague market this year. In the first half of 2018 alone, the take-up was 24% higher than in the full year 2017, precisely 226,600 sqm. During the same period, the overall gross take-up reached in Prague 408,000 sqm, showing an increase of 56 %. Besides the logistics sector, more than 90,000 sqm was taken by production and 76,000 sqm by distribution. The biggest new deal in Prague in the logistics sector was done by cargo-partner ČR, which signed a lease agreement for 12,450 sqm located in a stand-alone industrial building in the Logicor Prague Airport logistic park. The company will start operating from the new premises at the beginning of 2019. Cushman & Wakefield facilitated the lease of the premises.

JLL has successfully rented out the Albatros Business Centre in Prague 1. Almost 3,500 sqm of space on Národní třída will be occupied from spring 2019 by Spaces, a global coworking giant of Dutch origin, which will become a major tenant of the building next to Česká spořitelna. This opening of the first branch in the Czech Republic indicates a growing interest in this type of office.

Penta, Sudop and Czech Railways are planning a new real estate project next to Prague's main railway station. The project would involve covering the railroad tracks between Španělská, Legerova and Vinohradská streets at the southern tip of the station, local daily E15 learned.

M7 Real Estate has recently sold three assets, Innovations Business Park in Budapest, Hungary and Sanitas Industrial Park and Uhrineves Industrial Park both located in Prague, Czech Republic, for a total of circa €24 million, delivering investors a strong increase in value.

Cushman & Wakefield has become the manager of three buildings of TRIUVA, a PATRIZIA company, including the Five office centre in Smíchov, Wenceslas Square 9 and Lindner Hotel Prague, as well as the new acquisitions of funds managed by Amundi Immobilier Paris and Amundi Czech Republic - Praha City Center in Prague 1 and the Polygon House in Pankrác.

JLL has appointed David Vais as head of its Industrial Agency in the Czech Republic. Vais joins JLL from CTP Invest, where he worked for over 4 years as Senior Business Development Manager for the Czech and Slovak Republics.

Skanska is commencing the construction of its Parkview office building, designed by architectural studio Richard Meier & Partners. The nine-storey building, that will offer nearly 16,000 sqm of office space is scheduled for completion in Q1 2020.

Accolade Group will invest €8.6 million in the construction of a new industrial park near Zdice, right at exit 28 from the D5 motorway from Prague to Plzeň. The project will offer 12,100 sqm of leasable space and might start operating by 2020 or earlier.

Ikea will open a new pop-up store on Wenceslas Square in Prague’s heart on 20 September. The 800 sqm shop will focus on showing customers a range of options they have for their living rooms.