ARTICLES LABELLED WITH TAG Prague

The Czech Republic made it to the Top 20 countries ranked by the most expensive retail street for the second time in Cushman & Wakefield’s annual Main Streets Across the World 2019 chart. It climbed to No.18 thanks to Na Příkopě, a street where the prime rental value is €235 per sqm per month. The Czech Republic is the only country in the Central and Eastern European region to make it to the Top 20 this year (it appeared in the chart last year for the first time ever), confirming its reigning position on the Central European market.

Gross take-up in the third quarter of 2019 amounted to 85,200 sqm on the Prague office market, representing a 17% decrease on the previous quarter. The Prague Research Forum announced the office market figures for Q3 2019.

The open real estate fund Investika purchased the Galerie Butovice shopping centre located in the popular office area Nové Butovice in Prague 5. CBRE advised Investika on the acquisition.

Flow East, a Czech-based developer which specialises in the high-quality renovations of premium historical buildings, has purchased the historical Dům V Templu building located in the Old Town (Staré Město) of Prague.

Roebuck Asset Management has acquired a logistics warehouse in Dobroviz, Prague, on behalf of a South Korean institutional investor. International real estate advisor Savills advised the buyer.

Mint Investments acquired one of the most prominent buildings in Na Příkopě Street in Prague for its private investors. Mint Investments acted in the transaction as an investment advisor and asset manager supported by Sentient as a technical advisor. The acquisition was debt-financed by Česká spořitelna. The seller was represented in the transaction by CBRE. Mint Investments now plans a major investment in the building's technical equipment which will allow it to execute its value-add programme.

P3 Logistic Parks has signed an exclusive agreement to partner with Virtuplex, Europe’s largest B2B virtual reality laboratory, to explore the application of VR technology in the logistics warehouse space.

Warburg-HIH Invest Real Estate is about to acquire the River Garden 1 in Prague via a share deal. The office building with its gross lettable area of 19,000 square metres and another 1,300 square metres of patio space is earmarked for the individual fund of a German investor. In addition to flexible office accommodation on six floors, the property from 2012 offers around 2,200 square metres of retail area.

CA Immo has begun the construction of two premium office properties in the River City Prague complex, which is located in Prague’s Karlín district. Mississippi House and Missouri Park will complete the office complex, which currently includes three Class A- office buildings (Amazon Court, Nile House and Danube House).

Colliers International announced that Kevin Turpin has been appointed as the new Regional Director of Research for Central and Eastern Europe. He starts his new position on 1 October and will be based in Prague.