Tesco’s department store next to Brno’s main railway station has been sold to British developer Crestyl for an undisclosed sum. The supermarket will continue to operate at its current location.
According to aktualne.cz, the value of the transaction is in the range of €31-33 million (CZK 830-850 million).
“Our goal is to improve the overall environment of the department store, attract other tenants and revitalize it by opening new businesses,” Omar Koleilat, CEO of Crestyl commented.
This is Crestyl’s first asset in Brno. The company has completed several residential developments in the Prague region and Most. Cresty has built shopping centres in Jablonec, Prague and Kladno. It also owns one office building in Prague.
