The Myslbek office and retail complex on Prague’s centrally located Na Příkopě Street has been purchased by Max Realitní Fund.
The property was acquired from Anatol Invest Holding B.V., a holding entity whose asset management services were provided by AEW. Savills and iO Partners jointly represented the seller in a co-exclusive agency capacity and provided commercial advisory services. The buyer and the seller agreed not to publish details of the final transaction price or yield.
The Myslbek shopping gallery and office centre offer 16,940 sqm of office rental space and 7,736 sqm of retail space. Completed in 1996, the building consists of seven above-ground and four underground floors, providing 326 parking spaces. Named after a prominent artistic association that exhibited here in the first half of the 20th century, Myslbek is a vibrant space in the city centre.
Fraser Watson, Head of Investment at Savills, said: “It was an honour to be involved in this significant transaction. I wish the new owner, Max Realitní Fund, all the best as they take over ownership and begin the next chapter of this iconic building’s journey.”
"Myslbek is a landmark property that reflects the exceptional work and vision of its previous owner. This transaction highlights the sustained demand for prime assets in Prague,“ adds Petr Strýček MRICS, Head of Capital Markets at iO Partners.
Richard Morávek, one of the founders of Max Realitní Fund, revealed the plans for the building: “We believe Myslbek has significant growth and value appreciation potential. As with our other properties, we plan to improve the building and its offerings. We intend to revive the interiors with respect to the original architecture, diversify the tenant portfolio, and consider the creation of a stylish destination dining zone."
