ARTICLES LABELLED WITH TAG Czech Republic

Demolition is underway at the corner of Wenceslas Square and Opletalova Street in Central Prague, where a new mixed-used scheme will be developed by UK-owned Flow East. The new building, designed by Chapman Taylor, is to be called Květinový dům (Flower House, also known as VN47) and will comprise 19,500 sqm of office and retail space across nine floors. It will be constructed with the aim of achieving BREEAM ‘Excellent’ status. Flow East is expected to invest app. €37 million (CZK1 billion) into the project. 

The Czech Republic has long been one of the favourite destinations of investors looking for opportunities in CEE and their unwavering confidence is proof that the market’s outlook for the future remains positive. Jaroslav Kaizr MRICS, CTP’s Business Director talked to us about the office and industrial markets in the Czech Republic. 

Colliers International has announced the completion of its advisory role in helping Chassix, a global automotive supplier of precision casting and machining solutions, to establish a greenfield plant in the metropolis of the Moravian-Silesian region of the Czech Republic. 

Česká pojišťovna property fund is reportedly buying the Euro and Astra palaces at the bottom of Wenceslas Square, in the heart of Prague, from Czech investor Tomáš Fiala, owner of the Ukrainian group Dragon Capital, E15 reports. 

On 25th April 2017 the first edition of Prague Property Summit, organized by Property Forum in partnership with the Royal Institution of Chartered Surveyors (RICS) will gather leading real estate professionals and top executives from Central and Eastern Europe to analyse the potential of the Czech real estate market from a global perspective. 25 speakers and more than 100 visitors will come together in Prague, creating a unique networking opportunity. 

M7 Real Estate announced that its first Central European fund for third party investors, M7 Central European Real Estate Fund I (M7 CEREF I), has now completed its final close, reaching its target raise of €60 million of investor capital. This follows investor commitments of more than €35 million at its first close in October 2016.

Caerus Investment Management has announced that on behalf of a private separate account client, it has advised and structured the acquisition of Phase 1 of the Futurama Office Park located in Prague 8, Czech Republic adjacent to the Invalidovna metro station.

In Q1 2017, industrial space totalling 162,400 sqm was completed within 10 industrial parks across the Czech Republic, bringing the total stock of modern industrial and logistics space to 6.47 million sqm. The Industrial Research Forum announced its preliminary industrial market figures for Q1 2017.

€1280 million was invested in commercial real estate in the Czech Republic in the first quarter of 2017. This is the largest ever amount of investment registered for a first quarter. The result is mainly attributed to three major transactions: the sale of the Letňany Shopping Centre the CBRE GI portfolio and the change of the Olympia Brno owner. The Czech National Bank’s exit from currency interventions should not slow the strong demand for commercial real estate down.  

2016’s record-breaking €12.2 billion investment in the real estate sector in the CEE region is likely to be surpassed in 2017 – this is according to CEE Real Estate Investment Compass 2017 published by Colliers International and CMS. The sources of investment flows into the CEE region are also expected to remain diverse in 2017, with Asian and CEE investors becoming increasingly active in the real estate market.