Cushman & Wakefield assisted Generali Real Estate in the acquisition of Palác Špork, a unique scheme in Prague 1. The seller is SEBRE, a.s. The price remains undisclosed. The agreement was signed on 11 March.
With an area of ca.10,000 sqm, Palác Špork is located directly in the centre of Prague, not far from the Powder Tower and the Municipal House. It connects Hybernská and V Celnici streets. Among its tenants are the law firm Dentons and the popular Asian restaurant, SIA. The property is fully occupied.
The building features a unique design. It combines original historical elements with the modern appearance of current schemes. Originally a baroque palace, the building underwent a major remodelling in the early 20th century, leaving only the façade with the new Anglobanka facility developed behind it. Its main building was designed by the prominent Czech architect Josef Gočár. SEBRE, a.s., a development company, remodelled it into its current form.
Generali Real Estate is one of the world’s leading real estate asset managers, with around €30 billion of property assets across the globe as of yearend 2018. It leverages on the expertise of more than 450 professionals, with operating units located in the main European cities through four macro areas (Southern Europe, Western Europe, Central Northern Europe and Central Eastern Europe). The company operates with an integrated business model providing the full scope of asset management