News Article asset management Czech Republic KGAL office Prague Savills
by Property Forum | Office

From July 2020, KGAL Investment Management Group GmbH, based in Germany, has appointed Savills as local asset manager for DRN, an office complex on Národní St., Prague 1.

Strategically located in the city centre, the 12,500 sqm building of leasable area combines 9,800 sqm of office space with over 1,750 sqm of retail space and modern food and beverage outlets. The asset raises the bar regarding modern technical specifications for offices and expects to receive a BREEAM ‘Very Good’ rating shortly. It offers a roof terrace with 360-degree view of Prague and two-level underground car park with 227 parking spaces. It is almost fully let, with the first Czech WeWork operation being the largest tenant.

KGAL, a leading Munich-based investment and asset management company with assets under management of more than €20 billion, acquired DRN in August 2019, its first property acquisition in the Czech Republic, with Savills advising the seller.

Michaela Semanová, Director of Property Management at Savills CZ&SK, says: “There are a handful of modern iconic commercial buildings in Prague in terms of design and use, and DRN is definitely on that list. It is fantastic to have been appointed to provide local asset management services at DRN.“