ARTICLES LABELLED WITH TAG Czech Republic

CTP has added 69,000 sqm of buildings and development land to its CTPark Brno Líšeň in the Czech Republic through a sale-and-leaseback transaction with Zetor Tractors, the Czech agricultural machinery producer. The acquisition marks a major step in the overall €125 million transformation of the former Zetor brownfield industrial site into a modern new park for light manufacturing, retail, research and inner-city logistics which CTP embarked on in 2019. The transaction sees CTP consolidating its ownership in the Líšeň district, increasing the total land size to 29 hectares. Upon completion, CTPark Brno Líšeň will provide some 150,000 sqm of lettable area with over 2,500 jobs.

In Q3 2021, the Czech Republic registered the strongest house price growth within the EU, both in a year-on-year (22%) and a quarter-on-quarter (7.3%) comparison, well above the EU average of 9.2% and 3.1%, respectively, according to Eurostat’s House price index.

B+N Referencia Zrt, as the winner of a tender announced last year, has been awarded with a contract for the provision of cleaning services at the Václav Havel Airport in Prague for another 4 years, starting on 1st January 2022. There were another 12 competitor in the tender, B+N was the only Hungarian headquaterd company.

2021 was a year of unprecedented activity of Czech investors and developers on the Polish real estate market. Czech entities are competing with major German, American and Israeli players and so far they are performing very well in the race for the best assets.   

CTP has appointed Harry Bannatyne as Group Head of Client Relations based in the company’s headquarters in Prague. Bannatyne was previously a Partner and Regional Director Industrial at Colliers in the Czech capital. Prior to that he was National Director, Head of Industrial Agency for the Czech Republic and Slovakia at JLL.

The Czech retail market and physical retail segment remain attractive for retail brands, as the arrival of 38 new international brands last year confirms: this is the highest number in the last three years. This means a 52% year-on-year increase over the 25 new brands arriving in 2020, according to Cushman & Wakefield.

AFI Europe has completed the rough construction of an apartment building in the newly built AFI City district in Prague 9 - Vysočany. A total of 640 apartments are being built on a brownfield site near the Kolbenova metro station, exclusively for rental housing in two separate buildings, which will also include commercial space for shops, services and a restaurant. The construction of the first of them, with 313 units, has just moved towards completion and is successfully heading towards completion in Q4 2022.

Garbe Institutional Capital has launched a pan-European residential real estate fund with a total target investment volume (GAV) of around €800 million. The Garbe European Residential Fund (Garbe EUResi) invests in real estate developments and selectively also in properties undergoing energy rehabilitation. The investment strategy follows a "boots on the ground" approach: the fund only invests in locations where Garbe can act as a local investor through a local presence. The fund’s launch is a milestone in Garbe Institutional Capital’s move to expand into a European residential real estate platform. Garbe EUResi has already received equity commitments of €82.5 million.

Property Forum is looking for a part-time editor covering the Czech and Slovak real estate markets to help expand its CEE intelligence platform. 

UBM Development Czechia has completed the reconstruction of the more than 100-year-old former Cukrovarnicky Palace on Senovážné Square in the centre of Prague. The 176-room five-star Andaz Prague hotel will open in the historic building, marking the Hyatt chain’s entry into the Czech Republic. The hotel will be put into trial operation in early 2022.