Penta proceeds with revitalisation of Masaryk area

06
Feb
2025
News - Penta proceeds with revitalisation of Masaryk area #Czech Republic #hotel #Penta Real Estate #Prague

by Property Forum | Hotel

The revitalisation of the surroundings of Masaryk station by Penta Real Estate is moving to the next stage. The focus of action is now directed to the south side, to Hybernská Street. 


Completed last year, The Cloud One Prague hotel with 382 rooms, now with a BREEAM Outstanding Certificate, is fully booked, and all business spaces in the atrium of the hotel have new tenants. In the autumn of last year, a new fitness centre of the Max Fitness franchise, which is rapidly expanding throughout Prague, opened here. The Asian restaurant Sumi Garden will also open a new branch here this year. The next tenant will be Edison Filmhub, a concept that combines a cinema with a cafe. It will focus on events related to film festivals, but will also be available for conferences and other public events.

The shopping arcade of Masaryk station along Hybernská Street has undergone sensitive reconstruction. New or renovated shops have gradually opened here, for example, a new branch of the Knihy Dobrovský bookstore before Christmas, and a new branch of the Paul cafe chain will open in the main hall of the railway station this year.

The conversion of the partially protected building of the former post office will also have a positive effect on the events in Hybernská street. "This is a technically demanding construction - in addition to the requirements for heritage protection, we also have to deal with the underground collectors or the former castle drainage. If everything goes well, we would like to start work on the building at the end of this year," says Luboš Bóga, Project Manager at Penta Real Estate.

Hybernská Street is heavily loaded with car traffic, at the same time it leads to one of the most complex and traffic-dangerous intersections in the city – U Bulhara. After the completion of the Masaryk station roof, a much stronger pedestrian movement can be expected between the Main Railway Station, Opletalová and Hybernská streets and Florenc. "We are part of working groups that deal with, or have dealt with, options for calming traffic. A wide sidewalk with a new line of trees was created along The Cloud One hotel. There is a new public parking lot behind the hotel building and under the highway, including the possibility to charge electric cars," adds Rudolf Vacek, Development Director at Penta Real Estate.




Latest news


New leases

  • 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.
  • Yareal Polska has expanded the commercial offering at its flagship SOHO mixed-use development in Warsaw’s Praga-Południe district, securing three new lease agreements totaling nearly 500 sqm of ground-floor retail space. The developer has strengthened its tenant roster by signing pet supplies retailer Maxi Zoo, ceramics workshop Alike Pottery Studio, and coffee distributor Unroasted.

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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