News Article CBRE Czech Republic KGAL office Prague reconstruction Savills
by Property Forum | Office

The office and business centre Karlák Shopping Square (formerly Charles Square Center) owned by KGAL is getting a new face. The complete rebranding, architectural modifications and reconstruction of retail and office spaces, including a modernised logo are all included in the reconstruction plan.

Office tenants in the building include Phillip Morris, Cisco, DIOR, Commerzbank and Moët Hennesy. McDonald's and Fruitisimo are newly arrived retail tenants. The building is owned by the German company KGAL, focusing on asset and investment management and is also the initiator of the entire project. The leasing of office space and the building management is managed by Savills, which also carried it through the certification process at the BREEAM In-Use Excellent level in 2021. CBRE, also redeveloping the Karlák Shopping Square building, takes care of the retail space leasing and project management.

"As part of the reconstruction, the owner plans facade modification. The design of the logos of individual tenants and the one of the department store will be unified, and large-scale advertising and colourful stickers will be removed," explains Anna Pospíchalová, Architect in the Building Consultancy department at CBRE.

„We are very happy with the way the project is developing. Matching the requirements of the tenants and enhancing the quality of the building at the same time is a challenging process. Each party involved is passionate and working at a most professional level. The very high degree of collaboration between all parties involved is key to success. In the end it is very rewarding to see how the final pieces add up to the last matching piece in a game of Tetris,” comments Jessica Zeitler, Asset Manager at KGAL. 

The reconstruction costs were not specified.