ARTICLES LABELLED WITH TAG Brno

CTP has signed a lease agreement with PKV BUILD, a leading player in energy consulting. Leased premises are currently being built by CTP at its Vlněna office complex in Brno, Czech Republic.

According to 2023 reports, PSN has booked 23 purchase contracts with a total value of over CZK 1.3 billion (€52 million). The largest part is represented by 15 apartment buildings.

The Regional Research Forum has presented Brno and Ostrava office market data for H2 2023. Renegotiations are the main driver, however headline rents are staying unchanged.

The residential segment in Brno has booked rather not a positive record. Data from the real estate company Trikaya, as e15.cz reports, are speaking clearly: while 1,192 apartments in new buildings were sold on the Brno market in 2021, last year it was only 492. This is the least in the last 10 years.

A record number of new brands entered the Czech retail market last year. In the past ten years, since Cushman & Wakefield has been closely monitoring this activity, none equalled the 2023 list of 39 new retail brands.

More and more companies are considering expanding into Czech regions, but a lack of suitable office space is preventing them from doing so. In regions outside of Prague or Brno, there is not only a shortage of modern space for rent, but also a lack of flex operators. Those types of businesses could benefit from the growing interest of international companies in the Hub & Spoke or Flex & Core model, reports Colliers. 

The construction of the Pod Hády quarter in the Maloměřice and Obřany districts of Brno has officially started. Real estate group Trikaya began preparing the large-scale project on the brownfield site of the dilapidated Ergon factory. According to the development company, the total investment in the project will exceed CZK 4 billion (€163 million). The first residents will be able to move in in 2025.

In the first half of 2023, a total of 24,600 sqm of new office space was delivered to the Brno office market. Ostrava saw the delivery of no new office space, but the one that is under construction should be completed by the end of the year. The vacancy rate in the Brno office market in H1 2023 increased to 14.6% and in the Ostrava office market up to 7.8%, reports the Regional Research Forum (RRF).

Prague is the second most attractive market in CEE for hotel operators with a presence or interest in the region. Its popularity is backed up by H1 2023 being a period of healthy recovery for Prague hotels which achieved the second highest (after Budapest) RevPAR (revenue per available room) among the region’s capitals. In this year’s first six months, it reached €69, which is an increase of 57 percent versus H1 2022, and already a 5 percent increase versus the pre-Covid H1 2019. This was primarily driven by the strong ADR (average daily rate) growth, which surpassed 2019 levels by over 20 percent. Hotel operators are optimistic about the industry’s outlook and keen to expand across the CEE region. However, 28 percent of planned hotel projects in the region are facing delays or put on hold, mainly due to the increased development costs, reports Cushman & Wakefield in the Hotel Operator Beat survey.

PSN is opening up the brownfield site in Plynárenská Street in Brno to the public, which is being transformed into the "Brno Jedna" project. The company plans to organise small cultural and social events in the area, as well as the possibility of private renting of space. The developer is also leasing the existing office space, which is currently 60% occupied. Construction, which will include both apartments and new commercial units, will begin after all necessary permits have been processed. The approval process is expected to start this year. The company's goal is to revitalize the site overall so that it can offer a pleasant place to work, live and gather not only for local residents but also for the general public.