News Article Cushman&Wakefield Czech Republic office Prague property management
by Property Forum | Office

Cushman & Wakefield have newly become the manager of two Class A office buildings: Keystone in Prague 8 and Smíchov Gate in Prague 5. Both properties are situated in locations popular on the office market where lease volumes have been the highest this year. Prague 5 accounted for 16% of the total volume and Prague 8 for 15%.

Cushman & Wakefield have been providing facility management for the Keystone since this August. It is the first property managed for Amundi. Cushman & Wakefield provide a comprehensive set of services to Amundi, including the purchase of properties, strategic asset management, property management, project management and leasing. At this moment, 100% of the offices in this Art Deco building with a floor area of approximately 6 500 sqm have been taken up.

“Formerly an industrial quarter, Prague 8 – Karlín is becoming a popular location where new and modern office properties have been built in recent years. I am happy that, as well as the new scheme, we can also manage other interesting projects there such as the River Garden, Corso Court, Corso IIa and Palác Karlín,” says Lenka Vodrážková, Partner and Head of the Property Management Team at Cushman & Wakefield.
Smíchov Gate was entrusted to Cushman & Wakefield by its owner, Redside, the manager of the NOVA Real Estate open-ended fund. Cushman & Wakefield facilitated the sale of the property in 2016. Smíchov Gate has a floor area of 13 300 sqm and is a Class A office building located in Prague 5 – Anděl, one of the most sought-after office locations in Prague. The property is situated close to the Nový Smíchov shopping centre and its occupiers include Hochtief, Cardiff pojišťovna and Notino. Cushman & Wakefield also manage the Anděl Park and Zlatý Anděl properties in Prague 5, a quarter with a high concentration of companies. The company has also arranged for both buildings to obtain the BREEAM In Use environmental certificate.

This year, Cushman & Wakefield’s Property Management Team has already taken over six new projects, three of which are office schemes. A local team of 110 people provides commercial property management. In addition to 19 office buildings, the company also manages 16 shopping centres and 24 retail parks.