ARTICLES LABELLED WITH TAG Czech Republic

Some 75% of modern office stock in Prague is located within a 10-minute walk from a metro station, making the underground network a crucial feature of successful office projects in the Czech capital, according to Prague Office Metro Map,  the latest research from Colliers International.

In 2017, 151,000 sqm of new office premises will be added to the Prague Market. This represents an increase of 13% above ten-year average. JLL listed the most important players on the office development market in Prague.

Investment flows into the CEE region rose 70% year-on-year in Q1 2017. The level of €2.8 billion is some €0.5 billion higher than the preliminary estimate of €2.3 billion Colliers International published at the beginning of April. Money invested into the Czech Republic  (56% share) and Hungary (19% share) contributed particularly to the significant jump. Looking within the numbers, the retail sector accounted for nearly half (47%) of the flows, leaving the office sector trailing with a 21% share. Of interest and also a sign of buoyant economic growth, the fastest growth was seen in the hotel sector with a portfolio transaction contributing to the €415mn total (a 15% share). 

The Czech property market saw exceptionally strong investment flows into commercial real estate in Q1 2017 worth €1.57 billion, which was almost double the transaction value compared with the same period of last year, according to Colliers International.

CTP is launching a new mural art competition for illustrators, visual artists, painters and graphic designers – CTP Art Wall. For this project, CTP will provide enormous space – the walls of their own industrial buildings. In doing so, selected CTParks will create an outdoor art gallery.

On behalf of its clients, CBRE Global Investors has bought Prologis Park Ostrava from Prologis for an undisclosed sum. The 65,910 sqm complex, comprising two buildings, on the D1 motorway has now been renamed Ostrava Logistics Park. It is fully leased to five tenants.

Extensions to established shopping centres will be a significant driver of new floor space across Europe in the next two years, according to Cushman & Wakefield’s latest European Shopping Centre Development Report. 4.5 million sqm is expected to be delivered in 2017 and 2.3 million sqm in 2018. One-quarter of that will be attributable to the extensions of the existing shopping centres. In the Czech Republic extensions will make as much as 80%. 

Retail property investments continue to attract investors´ attention within the EMEA region as well as in the Czech Republic. Due to a lack of quality retail schemes available for purchase in the European core markets, investors´ interest has been broadening in terms of geographies as well as retail asset classes. The latest JLL study summarises the trends on the European retail market from an investors´ perspective. 

CBRE sees continuing strong demand from investors in the Czech Republic across the core sectors of office, retail and industrial with an increased demand for more specialist sectors such as hotels and residential. The retail sector in Q1 clearly dominated with more than €900 million transacted, followed by the office sector with a 20% share of total market volume.

Tenant representation is becoming an increasingly common phenomenon on the office markets of Central Europe, which is without a doubt a sign of a healthy, growing and more educated market. Their activity, however, often raises ethical questions as it’s still often unclear who pays for their services. Conflict of interest in tenant representation has been one of the key topics of two regional events: the Property Forum - RICS Prague Property Summit 2017 and the latest RICS Hungary Tea & Talk in Budapest.