Flow East tops out Prague mixed-use development

03
Dec
2019
News - Flow East tops out Prague mixed-use development #Czech Republic #development #Flow East #mixed-use #office #Prague #retail

by Property Forum | Retail

Flow East announced the topping out of its landmark project being constructed on Wenceslas Square (Václavské náměstí) as contractor Metrostav placed the last beam atop the structure.


When completed in summer 2020, The Flow Building will provide approximately 15,000 square metres of Class A office space and 6,000 square metres of Class A retail premises in the heart of the city’s central business district.

“We have been working towards this moment for more than 13 years. Today brings our vision of creating a truly iconic contemporary building on one of the world’s most historic squares a step closer to reality. The Flow Building will form an integral part of the urban renewal effort of Wenceslas Square while establishing new standards for future developments in Prague,” says James Woolf, CEO and Founder of Flow East.

The interior of the building will showcase modern sustainable and environmental solutions. Pre-qualified by BREEAM with the rating of ‘Excellent’, the building will benefit from nine flexible floorplates of up to 2,500 square metres and an abundance of natural daylight. The building has been designed to incorporate passive technology to reduce client energy consumption, which will reduce energy demand and CO2 emissions.

Primark, the international retailer has leased 4,700 square metres of retail space over three floors. This will be Primark’s first store in the Czech Republic. Primark is working with Flow East to tailor the space to fit Primark’s exact needs.




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New leases

  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


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