ARTICLES LABELLED WITH TAG Czech Republic

Investment market momentum is still firmly positive across Central and Eastern Europe but an increasing share of market players feel that commercial property has become expensive in the countries surveyed by the RICS Commercial Property Monitor. Although the majority of the survey’s contributors believe that the market is in the peak phase of the property cycle, growth is set to continue in the coming year.

Avenir E, a Class A office building located in the established office hub of Nové Butovice, Prague 5 has been acquired by Investika. The seller, Redside, was represented by JLL.

JLL introduced a new workplace consulting service in the Czech Republic. It focuses on the planning and quality of the work environment. In the cooperation with the activities in CEE and EMEA regions, Lucie Malá will be in charge of the workplace strategy with the support of the research, project management and design departments. By integrating this service, JLL will expand its portfolio and meet the needs of clients in the right setting of the work environment. New service based on real-world experience and analysis will help clients with the effectivity of their offices.

Prologis announced that Martin Baláž has been promoted to Vice President, Country Manager, Prologis Czech Republic and Slovakia.

Prologis announced the acquisition of 2.4 hectares in the highly sought-after Prague logistics market. The site is next to the D1 highway, the Czech Republic’s main arterial route.

Cushman & Wakefield in collaboration with Hodges Ward & Elliott represented Mornington Capital, an international hotel investment fund manager in the sale of Prague’s iconic Don Giovanni Hotel in Prague. The deal was signed on 20 February with the transaction price undisclosed. The new owner is a leading family-owned fund from Scandinavia. Czech-based Czech Inn Hotels remains the hotel’s operator.

Tesco has sold its department store in central Prague to Amadeus Real. Formerly named Máj, it is currently known as My. The new owner is planning a general reconstruction of the building which is planned to start in H2 2020 and last two years, local media reports.

CTP has recently announced new leases and development completions, in addition to ambitious plans for future expansion, in the Budapest region of Hungary and Northwest Bohemia and Moravia in the Czech Republic.

One of the newest industrial parks in the portfolio of the developer and manager of industrial properties, P3 Logistic Parks, will launch an expansion this spring. Warehouse A will be enlarged from its present size of 30,000 sqm by an additional 60,000 sqm. The extra capacity will be available to prospective customers at the end of the year. It will be the largest building in P3’s portfolio in the Czech Republic.

Cushman & Wakefield has become the new property manager for Myslbek, the iconic multi-purpose building owned by AEW. As part of Cushman & Wakefield’s international collaboration, its Polish office has become the manager of two major shopping and office centres in Poland, Klif in Gdynia, Klif House of Fashion and Klif Tower in Warsaw from the same owners. Both offices assume their property management duties in February 2019.