New large resi project rises by new metro in Prague

11
Jul
2022
News - New large resi project rises by new metro in Prague #Czech Republic #development #hospital #office #Prague #residential #restituent

by Property Forum | Residential

Massive construction worth billions of crowns is being prepared around the route of the new D metro line, which is currently under construction in Prague. The company Reflecta Development will build buildings with apartments and offices on lucrative land near the Thomayer Hospital for restituents, reports the daily E15.cz.


A new residential and office project will be built on 25 hectares of lucrative land near Prague's Thomayer Hospital. The developer Reflecta Development will build it there for a group of restituents and their heirs for billions of crowns. (Restituents are property owners whose properties were nationalized by the previous communist regime and returned to them only after the post-89 coup.) Until recently this land near the Thomayer hospital has the building closure, but Prague councillors lifted it this May.

The developer has been preparing a new construction near the hospital in Prague 4 for several years. In parallel to residential buildings and an office centre, it will also include a polyclinic, a rehabilitation centre and an underground car park for 300 cars. The project originally included a shopping mall, but the district and the old residents strongly objected to it. The entire project will also be connected directly to the vestibule of the new D metro line station. In the vicinity of the future Nádraží Krč metro station, the developer will have to cooperate closely not only with the Prague Transport Company but also with Czech Railways and the Railway Administration, which is planning a new station building there. "There will be a commercial arcade at the exit level of the station. One floor above at street level, restaurants and refreshments are located, along with a supermarket and a connection to the residential development and the park. On the higher floors there are spaces for offices," the developer describes. The first phase of the project alone will cost between three and four billion crowns.

In the next phase, houses with a total of six hundred flats and a pedestrian boulevard leading to the project of the residential developer Central Group will be built towards Zálesí Street. The latter acquired the vacant plots five years ago as part of the purchase of the neighbouring Zálesí office and accommodation complex from the 1970s. 

The restituents of the Nádraží Krč project company, for whom Reflecta is preparing the project, also own Krč castle in the locality, which operates as a five-star hotel with the Chateau St. Havel restaurant. This is to be followed by another hotel with a restaurant. The developer also promises to revitalise the Kunratický brook and restore the ponds and orchards.




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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