Cushman & Wakefield takes over Prague shopping centre

31
Jan
2023
News - Cushman & Wakefield takes over Prague shopping centre #Cushman & Wakefield #Czech Republic #Prague #retail #shopping centres #takeover

by Property Forum | Retail

Cushman & Wakefield has taken over the management of the Atrium Flora shopping centre in Prague Vinohrady, owned by G City Europe (formerly Atrium European Real Estate), as of 1 January 2023.


The 20,000 sqm OC Atrium Flora shopping centre in Prague is part of a multifunctional project including a large and modern office space of 18,000 sqm. Last year, an extensive reconstruction of the interior of the entire shopping centre took place, including a generous extension of the food court. During this year, the overall renovation should be completed with the replacement of navigation signage and digital surfaces with new ones. Built in 2003, the centre is located at a major Prague intersection directly above the Flora metro station.

Martin Šimek, Partner and Head of Shopping Centre Management at Cushman & Wakefield says: "Atrium Flora is a project in the very centre of the city, which is a place for its customers to shop and meet on a daily basis. Extensive office space, on-site parking and desirable retail tenants make the project one of Prague's best shopping centres. We very much appreciate the decision of the owner G City Europe to start cooperation with our company in its further management and commercial development. I am convinced that thanks to our long experience in this area we will be able to use the potential of this complex project to the maximum."

The main tenants of the centre include Cinema City with IMAX and the brands Attractivo, Bushman, Butlers, Calzedonia, Ecco shoes, Flying Tiger, H&M, Intimissimi, Lindex, Manufaktura, Sizeer and Tatuum. The largest retail tenant is the Albert supermarket, whose store will undergo a major refurbishment in February and will reopen to customers at the end of the month. Office tenants include Marsh McLennan, Reckitt Benckiser and Scott Weber workspace, among others.




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New leases

  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.
  • Yareal Polska has expanded the commercial offering at its flagship SOHO mixed-use development in Warsaw’s Praga-Południe district, securing three new lease agreements totaling nearly 500 sqm of ground-floor retail space. The developer has strengthened its tenant roster by signing pet supplies retailer Maxi Zoo, ceramics workshop Alike Pottery Studio, and coffee distributor Unroasted.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • 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.


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