Asian investors dominated the Czech market in 2016

25
Jan
2017
News - Asian investors dominated the Czech market in 2016 #CBRE #Czech Republic #investment #Prague #report

by Ákos Budai | Report

Total real estate investment volume in the Czech Republic exceeded €3.7 billion in 2016, CBRE revealed. The most notable transactions in 2016 were the sale of P3 Logistics Parks, the Park and Florentinum, with 67 transactions being mediated on the Czech market in total. 

The market was dominated by investments in office properties accounting for 43% of all transactions, while industrial investment made up 28% and the retail sector constituted only 17%, compared to 2015, when it dominated the market. The largest number of transactions in the office sector took place in Prague, at 97%.

“Asian investors that are active in the CEE market tend to be focussed on larger transactions, such as dominant properties, portfolios or even by taking an ownership interest in a real estate operating platform itself, such as the recent acquisition of P3 Logistics Parks by GIC, the Singaporean Sovereign Wealth fund”, Chris Sheils, Head of Investment Properties at CBRE commented.
 
Investments by Asian investors in 2016 accounted for 36% of total investment, followed by investors from the Czech Republic (32%), with Germany coming in third (12%).

CBRE predicts continued downward pressure on prime yields in the investment sector; however, this decline will be slower than in previous years. Currently, they monitor more than 50 ongoing transactions on the market with a total investment volume of over €3.3 billion, which could be closed by the end of 2017. CBRE further predicts that more than 50% of the total investment in 2017 will be regional.

CBRE Czech Republic investment Prague report


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New leases

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  • Sirowa Poland has relocated its office in the revitalised mixed-use Centrum Praskie Koneser complex. The international distributor of cosmetic and pharmaceutical brands leased 958 sqm in Building P at the development, in a deal brokered by Savills.
  • International fashion retailer Primark has opened its fifth Romanian store, spanning 3,185 sqm, at ElectroPutere Mall in Craiova, marking its debut in the country's south-west region. The launch follows a €10 million investment.

New appointments

  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.
  • BNP Paribas Real Estate Poland has expanded its Industrial and Logistics Agency team with the appointments of Joanna Choromańska, formerly of JLL, and Bartosz Wilczyński, previously with CBRE. The new hires bring a combined 34 years of experience in sector sales, lease negotiations, and build-to-suit project delivery to support the division's ongoing growth.
  • Speedwell has expanded its industrial and logistics team with the appointment of Valentin Achim as Leasing and Property Manager for Industrial Developments. Achim brings extensive experience in coordinating commercial and operational activities within the logistics and industrial sectors. In his new role, he will oversee the development and expansion of the company's Spaceplus platform.


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