Europa Capital, represented by Savills, has concluded the sale of Hadovka Office Park in Prague to Wood & Company, a leading investment bank in Emerging Europe.
Hadovka Office Park is an office building in the Prague 6 submarket, located on the main road which connects the CBD with Prague’s international airport. The building, comprising 22,265 sqm of office space, is arranged over four floors above ground and a further two underground parking levels. The property is split into four parts with individual reception areas and can provide flexible office space ranging from 100 to 4,500 sqm to suit both larger and smaller businesses. The office space is further complemented by an in-house café, canteen and gym facilities.
Following implementation of Europa Capital’s asset management initiatives, the property is now 100% let with significant occupiers including CapGemini, MSD (Merck & Company), Otis and Carrier (both part of the United Technologies Corporation).
Since owning the building, Europa Capital has maintained substantially full occupancy while carrying out a refurbishment of the common areas and achieving an excellent BREEAM in use rating. Hadovka Office Park is now placed into Wood & Company Czechoslovak High-Yield Real Estate subfund, the open-end fund of qualified investors managed by Wood & Company.
Vladimír Jaroš, CEO of Wood & Company commented: ‘We are pleased to be adding Hadovka Office Park into our portfolio within Wood & Company Czechoslovak High-Yield Real Estate subfund, which already consists of three recently acquired office projects in Bratislava. Our goal now is to focus primarily on Prague office market, while Hadovka fits well into our plans and strategy. Hadovka is a Class A office building in a unique location with a well-diversified tenant mix and we are dedicated to further improve services for our tenants.’